Gray Media (NYSE:GTN) Upgraded to Strong-Buy at Barrington Research

Key Points

• Gray Media has been upgraded by Barrington Research from a "market perform" rating to an "outperform" rating, with a new price target of $6.50, suggesting a potential upside of 32.79% from the stock's previous close.
• Wells Fargo increased its target price from $4.50 to $5.00, while Benchmark raised theirs from $7.00 to $9.00, reflecting a mixed outlook among analysts for Gray Media.
• Gray Media reported a loss of $0.42 per share for its most recent quarter, falling short of analysts' expectations, while its revenue slightly exceeded estimates at $772 million.

Gray Media (NYSE:GTN - Get Free Report) was upgraded by research analysts at Barrington Research from a "hold" rating to a "strong-buy" rating in a report issued on Monday, MarketBeat Ratings reports. The brokerage currently has a $6.50 target price on the stock. Barrington Research's price target would suggest a potential upside of 29.12% from the company's current price. Barrington Research also issued estimates for Gray Media's Q4 2026 earnings at $1.57 EPS.

Several other equities analysts have also commented on GTN. Benchmark reiterated a "buy" rating and set a $9.00 price objective (up from $7.00) on shares of Gray Media in a research report on Monday. Wall Street Zen cut shares of Gray Media from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Wells Fargo & Company increased their price target on shares of Gray Media from $4.50 to $5.00 and gave the company an "equal weight" rating in a research report on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $6.88.

Gray Media Price Performance

Shares of NYSE:GTN opened at $5.03 on Monday. The company's fifty day moving average price is $4.60 and its 200-day moving average price is $4.16. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $511.15 million, a price-to-earnings ratio of 3.33 and a beta of 1.20. Gray Media has a one year low of $2.91 and a one year high of $6.16.

Gray Media (NYSE:GTN - Get Free Report) last released its earnings results on Friday, August 8th. The company reported ($0.42) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.19). Gray Media had a net margin of 5.64% and a return on equity of 10.26%. The firm had revenue of $772.00 million during the quarter, compared to the consensus estimate of $765.16 million. During the same period in the prior year, the company earned $0.09 EPS. The firm's revenue was down 6.5% compared to the same quarter last year. On average, equities research analysts anticipate that Gray Media will post 3.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jeffrey R. Gignac acquired 12,500 shares of the stock in a transaction on Thursday, June 5th. The stock was purchased at an average price of $3.68 per share, for a total transaction of $46,000.00. Following the completion of the transaction, the chief financial officer owned 644,599 shares of the company's stock, valued at $2,372,124.32. This trade represents a 1.98% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 15.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Miller Value Partners LLC grew its holdings in Gray Media by 132.1% in the 4th quarter. Miller Value Partners LLC now owns 3,384,450 shares of the company's stock worth $10,661,000 after acquiring an additional 1,926,330 shares during the last quarter. Capital Management Corp VA boosted its holdings in shares of Gray Media by 19.2% during the first quarter. Capital Management Corp VA now owns 6,867,026 shares of the company's stock worth $29,666,000 after purchasing an additional 1,103,690 shares during the period. Millennium Management LLC grew its stake in shares of Gray Media by 903.0% in the fourth quarter. Millennium Management LLC now owns 719,201 shares of the company's stock worth $2,265,000 after purchasing an additional 808,764 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Gray Media by 60.0% during 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 purchasing an additional 734,085 shares during the period. Finally, Nuveen LLC bought a new position in Gray Media during the 1st quarter valued at approximately $2,876,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

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.