Gray Media (NYSE:GTN) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Gray Media (NYSE:GTN) from a hold rating to a sell rating in a research note released on Sunday.

A number of other research analysts have also recently commented on GTN. Benchmark boosted their target price on shares of Gray Media from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Weiss Ratings lowered shares of Gray Media from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday. Wells Fargo & Company raised their target price on Gray Media from $5.00 to $5.50 and gave the company an “equal weight” rating in a research note on Monday, November 10th. Guggenheim boosted 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. Finally, Barrington Research restated an “outperform” rating and set a $6.50 price objective on shares of Gray Media in a report on Tuesday, September 23rd. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $7.25.

Gray Media Stock Down 4.4%

Shares of NYSE GTN opened at $4.63 on Friday. Gray Media has a 12-month low of $2.91 and a 12-month high of $6.30. The company has a market cap of $472.46 million, a P/E ratio of 3.06 and a beta of 1.15. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.56. The stock has a fifty day moving average price of $5.17 and a 200 day moving average price of $4.89.

Gray Media (NYSE:GTN) last issued its quarterly earnings data on Friday, November 7th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.17. The company had revenue of $749.00 million for the quarter, compared to analysts’ expectations of $745.25 million. Gray Media had a return on equity of 10.31% and a net margin of 5.64%.The firm’s quarterly revenue was down 21.2% on a year-over-year basis. During the same quarter in the previous 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 anticipate that Gray Media will post 3.32 EPS for the current fiscal year.

Gray Media Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend is Monday, December 15th. Gray Media’s payout ratio is currently 78.05%.

Insiders Place Their Bets

In other Gray Media news, Director Richard Lee Boger sold 20,000 shares of the stock in a transaction 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 directly owned 61,343 shares of the company’s stock, valued at approximately $357,016.26. This represents a 24.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 15.22% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gray Media

Several institutional investors and hedge funds have recently bought and sold shares of GTN. Acadian Asset Management LLC acquired a new position in Gray Media in the first quarter valued at approximately $28,000. CWM LLC increased its position in Gray Media by 638.5% in 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 bought a new stake in Gray Media in the second quarter valued at $55,000. Banco BTG Pactual S.A. bought a new stake in Gray Media in the first quarter valued at $57,000. Finally, Merit Financial Group LLC acquired a new position in shares of Gray Media during the third quarter valued at $59,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

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.