Benchmark Issues Positive Forecast for Gray Media (NYSE:GTN) Stock Price

Gray Media (NYSE:GTN) had its target price increased by equities researchers at Benchmark from $9.00 to $10.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s target price indicates a potential upside of 106.83% from the stock’s previous close.

Several other equities analysts also recently issued reports on GTN. Wall Street Zen raised shares of Gray Media from a “sell” rating to a “hold” rating in a report on Saturday. Barrington Research reissued an “outperform” rating and set a $6.50 target price on shares of Gray Media in a report on Tuesday, September 23rd. Guggenheim lifted their price target on Gray Media from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, August 14th. Wells Fargo & Company increased their price objective on Gray Media from $5.00 to $5.50 and gave the company an “equal weight” rating in a research note on Monday. Finally, Weiss Ratings upgraded Gray Media from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.25.

Gray Media Stock Performance

NYSE:GTN traded up $0.02 during trading hours on Monday, reaching $4.84. The company had a trading volume of 321,698 shares, compared to its average volume of 1,405,374. The firm has a market cap of $493.59 million, a PE ratio of 3.20 and a beta of 1.15. Gray Media has a 1-year low of $2.91 and a 1-year high of $6.30. The business’s 50 day moving average price is $5.28 and its 200-day moving average price is $4.84. The company has a debt-to-equity ratio of 2.56, a current ratio of 0.87 and a quick ratio of 0.87.

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

Insider Buying and Selling at Gray Media

In other 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 completion of the sale, the director owned 61,343 shares in the company, valued at $357,016.26. This trade represents a 24.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.22% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Capital Management Corp VA raised its position in Gray Media by 19.2% in the first quarter. Capital Management Corp VA now owns 6,867,026 shares of the company’s stock valued at $29,666,000 after purchasing an additional 1,103,690 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in 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. Nuveen LLC acquired a new position in Gray Media in the first quarter valued at about $2,876,000. AQR Capital Management LLC boosted its stake in Gray Media by 76.6% during the second quarter. AQR Capital Management LLC now owns 1,361,807 shares of the company’s stock worth $6,169,000 after buying an additional 590,704 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in Gray Media by 36.7% during the third quarter. New York State Common Retirement Fund now owns 1,881,087 shares of the company’s stock worth $10,873,000 after buying an additional 504,780 shares during the period. 78.64% of the stock is currently 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.