Gray Media (NYSE:GTN.A) Shares Down 10.2% – Here’s Why

Gray Media Inc. (NYSE:GTN.A) traded down 10.2% during trading on Thursday . The company traded as low as $7.20 and last traded at $7.20. 2,928 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 12,079 shares. The stock had previously closed at $8.02.

Gray Media Stock Performance

The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 2.72. The stock has a market cap of $812.66 million, a PE ratio of -5.17 and a beta of 0.51. The stock has a fifty day moving average of $10.36 and a 200-day moving average of $10.81.

Gray Media (NYSE:GTN.A) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.34) earnings per share (EPS) for the quarter. Gray Media had a negative return on equity of 3.07% and a negative net margin of 3.12%.

Gray Media Company Profile

Gray Media, doing business as Gray Television, Inc, operates an extensive network of local television stations and digital platforms across the United States. The company’s broadcast portfolio offers a mix of network-affiliated programming—ranging from national news and entertainment from ABC, CBS, NBC and Fox—to locally produced content including news, sports and weather coverage. In addition to traditional broadcast, Gray Media provides digital advertising, streaming and over-the-top solutions through its websites, mobile apps and branded digital marketplaces.

Established in 1946 as Gray Communications Systems, the company went public in 2006 and adopted the Gray Television name in 2010.