Gray Media Inc. (NYSE:GTN) Shares Bought by Choreo LLC

Choreo LLC lifted its position in shares of Gray Media Inc. (NYSE:GTN) by 13.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,374 shares of the company’s stock after buying an additional 3,547 shares during the period. Choreo LLC’s holdings in Gray Media were worth $131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Management Corp VA lifted its holdings in shares of Gray Media by 19.2% in the 1st quarter. Capital Management Corp VA now owns 6,867,026 shares of the company’s stock worth $29,666,000 after acquiring an additional 1,103,690 shares during the last quarter. Miller Value Partners LLC lifted its position in shares of Gray Media by 132.1% during the 4th quarter. Miller Value Partners LLC now owns 3,384,450 shares of the company’s stock worth $10,661,000 after purchasing an additional 1,926,330 shares during the last quarter. Marshall Wace LLP lifted its holdings in Gray Media by 52.6% during the 4th quarter. Marshall Wace LLP now owns 1,161,862 shares of the company’s stock worth $3,660,000 after buying an additional 400,274 shares during the last quarter. Northern Trust Corp boosted its holdings in Gray Media by 7.8% in the fourth quarter. Northern Trust Corp now owns 846,849 shares of the company’s stock valued at $2,668,000 after purchasing an additional 61,562 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Gray Media by 903.0% in the 4th quarter. Millennium Management LLC now owns 719,201 shares of the company’s stock valued at $2,265,000 after buying an additional 808,764 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GTN shares. Benchmark cut their target price on shares of Gray Media from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company upped their price target on shares of Gray Media from $4.00 to $4.50 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. Finally, Wall Street Zen raised Gray Media from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Gray Media currently has an average rating of “Hold” and a consensus price target of $6.17.

Insider Buying and Selling

In related news, CFO Jeffrey R. Gignac acquired 12,500 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were bought at an average cost of $3.68 per share, with a total value of $46,000.00. Following the completion of the transaction, the chief financial officer directly owned 644,599 shares of the company’s stock, valued at $2,372,124.32. This trade represents a 1.98% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.22% of the company’s stock.

Gray Media Price Performance

NYSE:GTN opened at $4.50 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.48. The firm has a market cap of $457.34 million, a price-to-earnings ratio of 1.95 and a beta of 1.19. The company’s 50-day moving average is $4.54 and its two-hundred day moving average is $4.10. Gray Media Inc. has a 12-month low of $2.91 and a 12-month high of $6.56.

Gray Media (NYSE:GTN) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.26. Gray Media had a return on equity of 12.75% and a net margin of 7.72%. The firm had revenue of $782.00 million for the quarter, compared to analyst estimates of $772.71 million. During the same period last year, the company earned $0.79 EPS. The firm’s quarterly revenue was down 5.0% on a year-over-year basis. Research analysts expect that Gray Media Inc. will post 3.32 EPS for the current year.

Gray Media Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.08 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.32 annualized dividend and a yield of 7.1%. Gray Media’s dividend payout ratio (DPR) is presently 13.85%.

Gray Media 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.