Gray Media (NYSE:GTN) Shares Gap Down – What’s Next?

Gray Media Inc. (NYSE:GTN) shares gapped down prior to trading on Friday . The stock had previously closed at $4.60, but opened at $4.25. Gray Media shares last traded at $4.9240, with a volume of 1,189,646 shares trading hands.

Analyst Upgrades and Downgrades

GTN has been the subject of several research reports. Weiss Ratings downgraded Gray Media from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Barrington Research reiterated an “outperform” rating and issued a $6.50 price objective on shares of Gray Media in a research note on Tuesday, September 23rd. Wells Fargo & Company boosted their target price on shares of Gray Media from $4.50 to $5.00 and gave the company an “equal weight” rating in a report on Monday, August 11th. Wall Street Zen lowered Gray Media from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, Benchmark reissued a “buy” rating and issued a $9.00 price target (up from $7.00) on shares of Gray Media in a report on Monday, August 11th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.88.

Gray Media Trading Up 6.0%

The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $497.98 million, a P/E ratio of 3.23 and a beta of 1.15. The stock has a 50-day moving average price of $5.31 and a 200-day moving average price of $4.80.

Gray Media (NYSE:GTN) last announced its earnings results on Friday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.17. Gray Media had a net margin of 5.64% and a return on equity of 10.31%. The business had revenue of $749.00 million during the quarter, compared to analyst estimates of $745.25 million. During the same period in the previous year, the business posted $0.86 earnings per share. Gray Media’s revenue for the quarter was down 21.2% on a year-over-year basis. Gray Media has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, equities research analysts expect that Gray Media Inc. will post 3.32 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Gray Media

Several hedge funds have recently added to or reduced their stakes in GTN. Acadian Asset Management LLC bought a new position in shares of Gray Media during the first quarter valued at about $28,000. CWM LLC boosted its holdings in Gray Media by 638.5% during the 1st quarter. CWM LLC now owns 9,615 shares of the company’s stock valued at $42,000 after acquiring an additional 8,313 shares during the period. Merit Financial Group LLC bought a new position in Gray Media during the 3rd quarter worth approximately $59,000. Pallas Capital Advisors LLC purchased a new position in Gray Media in the 2nd quarter worth approximately $55,000. Finally, Banco BTG Pactual S.A. purchased a new stake in shares of Gray Media during the first quarter valued at approximately $57,000. 78.64% of the stock is owned by institutional investors.

Gray Media Company Profile

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.