Gray Media Inc. Declares Quarterly Dividend of $0.08 (NYSE:GTN)

Gray Media Inc. (NYSE:GTN) declared a quarterly dividend on Friday, November 7th. Investors of record on Monday, December 15th will be given a dividend of 0.08 per share on Wednesday, December 31st. This represents a c) annualized dividend and a yield of 6.6%. The ex-dividend date is Monday, December 15th.

Gray Media has a payout ratio of 12.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Gray Media to earn ($0.28) per share next year, which means the company may not be able to cover its $0.32 annual dividend with an expected future payout ratio of -114.3%.

Gray Media Stock Up 5.3%

Shares of GTN traded up $0.25 during midday trading on Friday, reaching $4.85. The stock had a trading volume of 2,035,484 shares, compared to its average volume of 1,410,725. The company has a market cap of $494.61 million, a price-to-earnings ratio of 3.21 and a beta of 1.15. The company has a debt-to-equity ratio of 2.56, a current ratio of 0.87 and a quick ratio of 0.87. The company’s fifty day simple moving average is $5.31 and its two-hundred day simple moving average is $4.80. Gray Media has a 1-year low of $2.91 and a 1-year high of $6.30.

Gray Media (NYSE:GTN) last issued 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 analysts’ expectations of $745.25 million. During the same quarter in the prior year, the business posted $0.86 EPS. The company’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. Equities research analysts expect that Gray Media will post 3.32 earnings per share for the current year.

Insider Activity

In related news, Director Richard Lee Boger sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $5.82, for a total transaction of $116,400.00. Following the sale, the director owned 61,343 shares in the company, valued at approximately $357,016.26. This trade represents a 24.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 15.22% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC acquired a new stake in shares of Gray Media during the first quarter worth $28,000. CWM LLC lifted its position in Gray Media by 638.5% during the first quarter. CWM LLC now owns 9,615 shares of the company’s stock worth $42,000 after buying an additional 8,313 shares during the period. Pallas Capital Advisors LLC acquired a new stake in Gray Media in the 2nd quarter worth about $55,000. Banco BTG Pactual S.A. acquired a new stake in Gray Media in the 1st quarter worth about $57,000. Finally, Merit Financial Group LLC purchased a new stake in Gray Media in the 3rd quarter valued at about $59,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

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.