Gray Media (NYSE:GTN) Shares Gap Down – Time to Sell?

Gray Media Inc. (NYSE:GTN)’s share price gapped down before the market opened 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.

Wall Street Analysts Forecast Growth

GTN has been the subject of a number of research analyst reports. Benchmark reiterated a “buy” rating and issued a $9.00 target price (up from $7.00) on shares of Gray Media in a report on Monday, August 11th. Wall Street Zen downgraded shares of Gray Media from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Barrington Research reiterated an “outperform” rating and set a $6.50 target price on shares of Gray Media in a research report on Tuesday, September 23rd. Weiss Ratings cut shares of Gray Media from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Finally, Guggenheim lifted their price target on shares of Gray Media from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Gray Media has a consensus rating of “Hold” and a consensus target price of $6.88.

Gray Media Price Performance

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 business’s fifty day moving average price is $5.31 and its 200-day moving average price is $4.80. The stock has a market capitalization of $497.98 million, a price-to-earnings ratio of 3.23 and a beta of 1.15.

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

Insider Transactions at Gray Media

In related news, Director Richard Lee Boger sold 20,000 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $5.82, for a total value of $116,400.00. Following the completion of the sale, the director directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 15.22% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Management Corp VA increased its position 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 valued at $29,666,000 after acquiring an additional 1,103,690 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Gray Media by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 5,998,630 shares of the company’s stock valued at $34,672,000 after purchasing an additional 251,419 shares during the last quarter. Penn Capital Management Company LLC increased its position in shares of 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 purchasing an additional 281,566 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Gray Media by 60.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,956,635 shares of the company’s stock worth $8,453,000 after acquiring an additional 734,085 shares during the period. Finally, New York State Common Retirement Fund increased its stake in shares of Gray Media by 36.7% during the 3rd quarter. New York State Common Retirement Fund now owns 1,881,087 shares of the company’s stock worth $10,873,000 after purchasing an additional 504,780 shares during the last quarter. 78.64% of the stock is currently owned by hedge funds and other 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.