Gray Media (NYSE:GTN) Trading Up 6.9% - What's Next?

Key Points

• Gray Media's stock price rose by 6.9% to $5.93, despite a significant decline in trading volume, which was 36% lower than average.
• Analysts have mixed ratings, with price targets ranging from $5.00 to $9.00, and a consensus rating of "Moderate Buy" with a target of $6.88.
• The company announced a quarterly dividend of $0.08 per share, representing an annualized yield of 5.5%, to be paid on September 30th.

Gray Media Inc. (NYSE:GTN - Get Free Report)'s share price shot up 6.9% on Tuesday . The company traded as high as $6.00 and last traded at $5.93. 944,078 shares traded hands during trading, a decline of 36% from the average session volume of 1,473,958 shares. The stock had previously closed at $5.55.

Wall Street Analysts Forecast Growth

GTN has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on shares of Gray Media from $4.50 to $5.00 and gave the stock an "equal weight" rating in a research note on Monday, August 11th. Benchmark reissued a "buy" rating and set a $9.00 price objective (up from $7.00) on shares of Gray Media in a report on Monday, August 11th. Barrington Research reissued an "outperform" rating and set a $6.50 price objective on shares of Gray Media in a report on Tuesday. Wall Street Zen lowered shares of Gray Media from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Guggenheim lifted their price target on shares of Gray Media from $6.00 to $7.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $6.88.

Gray Media Stock Up 5.0%

The firm has a market capitalization of $594.67 million, a price-to-earnings ratio of 3.86 and a beta of 1.21. The company's 50 day moving average price is $5.45 and its 200 day moving average price is $4.58. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.56.

Gray Media (NYSE:GTN - Get Free Report) last posted its earnings results on Friday, August 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.19). The business had revenue of $772.00 million for the quarter, compared to analyst estimates of $765.16 million. Gray Media had a net margin of 5.64% and a return on equity of 10.31%. The company's revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Gray Media has set its Q3 2025 guidance at EPS. As a group, research analysts forecast that Gray Media Inc. will post 3.32 earnings per share for the current fiscal year.

Gray Media Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $0.08 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.5%. Gray Media's dividend payout ratio is 21.19%.

Insider Activity at Gray Media

In other news, Director Richard Lee Boger sold 20,000 shares of the business's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $5.82, for a total transaction of $116,400.00. Following the completion of the sale, the director owned 61,343 shares of the company's stock, valued at $357,016.26. The trade was a 24.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 15.22% of the stock is owned by corporate insiders.

Institutional Trading of Gray Media

Several large investors have recently bought and sold shares of the business. Capital Management Corp VA grew its stake in Gray Media by 19.2% during the 1st quarter. Capital Management Corp VA now owns 6,867,026 shares of the company's stock valued at $29,666,000 after acquiring an additional 1,103,690 shares in the last quarter. Penn Capital Management Company LLC grew its stake in Gray Media by 16.2% during the 1st quarter. Penn Capital Management Company LLC now owns 2,017,748 shares of the company's stock valued at $8,740,000 after acquiring an additional 281,566 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Gray Media by 60.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,956,635 shares of the company's stock valued at $8,453,000 after buying an additional 734,085 shares during the period. New York State Common Retirement Fund grew its stake in shares of Gray Media by 10.8% in the 2nd quarter. New York State Common Retirement Fund now owns 1,376,307 shares of the company's stock valued at $6,235,000 after buying an additional 134,631 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Gray Media by 76.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,361,807 shares of the company's stock valued at $6,169,000 after buying an additional 590,704 shares during the period. Hedge funds and other institutional investors 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.

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