Gray Media (NYSE:GTN) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

Shares of Gray Media Inc. (NYSE:GTN - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.88 and traded as high as $4.93. Gray Media shares last traded at $4.73, with a volume of 1,727,262 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GTN shares. Wall Street Zen lowered Gray Media from a "hold" rating to a "sell" rating in a research report on Sunday, June 29th. Benchmark dropped their price target on Gray Media from $8.00 to $7.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company upped their price objective on Gray Media from $4.00 to $4.50 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Gray Media currently has an average rating of "Hold" and an average price target of $6.17.

Gray Media Stock Performance

The stock has a market capitalization of $571.16 million, a P/E ratio of 2.44 and a beta of 1.19. The stock has a 50 day moving average of $4.24 and a 200 day moving average of $3.91. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.91 and a current ratio of 0.91.

Gray Media (NYSE:GTN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.23) EPS for the quarter, topping analysts' consensus estimates of ($0.49) by $0.26. Gray Media had a return on equity of 12.75% and a net margin of 7.72%. The firm had revenue of $782.00 million during the quarter, compared to the consensus estimate of $772.71 million. During the same period in the prior year, the business earned $0.79 EPS. The firm's revenue was down 5.0% on a year-over-year basis. Equities analysts predict that Gray Media Inc. will post 3.32 EPS for the current year.

Gray Media Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.08 per share. The ex-dividend date was Friday, June 13th. This represents a $0.32 dividend on an annualized basis and a yield of 5.69%. Gray Media's dividend payout ratio (DPR) is presently 13.85%.

Insider Transactions at Gray Media

In other Gray Media news, CFO Jeffrey R. Gignac purchased 12,500 shares of Gray Media stock in a transaction on Thursday, June 5th. The stock was bought at an average price of $3.68 per share, for a total transaction of $46,000.00. Following the transaction, the chief financial officer owned 644,599 shares of the company's stock, valued at $2,372,124.32. The trade was a 1.98% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 15.22% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new position in Gray Media during the 1st quarter worth $28,000. Voleon Capital Management LP acquired a new stake in shares of Gray Media in the fourth quarter valued at $32,000. Ameriprise Financial Inc. acquired a new stake in shares of Gray Media in the fourth quarter valued at $33,000. Boothbay Fund Management LLC acquired a new stake in shares of Gray Media in the fourth quarter valued at $34,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Gray Media by 157.6% in the first quarter. Harbor Capital Advisors Inc. now owns 8,752 shares of the company's stock valued at $38,000 after buying an additional 5,355 shares during the period. Institutional investors and hedge funds own 78.64% of the company's stock.

About Gray Media

Gray Television, Inc, a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It also broadcasts secondary digital channels affiliated to ABC, CBS, NBC, and FOX, as well as various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Circle, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.