Wall Street Zen Upgrades Gray Media (NYSE:GTN) to Hold

Gray Media (NYSE:GTN) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company increased their price objective on Gray Media from $4.50 to $5.00 and gave the stock an “equal weight” rating in a report on Monday, August 11th. Benchmark reissued a “buy” rating and set a $9.00 price objective (up previously from $7.00) on shares of Gray Media in a research report on Monday, August 11th. Guggenheim raised their price target on shares of Gray Media from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, August 14th. Barrington Research restated an “outperform” rating and set a $6.50 price objective on shares of Gray Media in a research report on Tuesday, September 23rd. Finally, Weiss Ratings cut shares of Gray Media from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Gray Media has an average rating of “Hold” and a consensus price target of $6.88.

Gray Media Price Performance

GTN opened at $4.85 on Friday. The stock has a fifty day moving average of $5.28 and a 200-day moving average of $4.82. The firm has a market capitalization of $494.61 million, a P/E ratio of 3.21 and a beta of 1.15. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.56. Gray Media has a 12-month low of $2.91 and a 12-month high of $6.30.

Gray Media (NYSE:GTN) last released its 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 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 business’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 EPS. Gray Media has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities analysts forecast that Gray Media will post 3.32 EPS for the current fiscal year.

Insider Activity

In related news, Director Richard Lee Boger sold 20,000 shares of Gray Media stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $5.82, for a total transaction of $116,400.00. Following the completion of the sale, the director directly owned 61,343 shares of the company’s stock, valued at $357,016.26. The trade was 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 this link. 15.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Gray Media

Several large investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its position in shares of Gray Media by 42.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 451,435 shares of the company’s stock valued at $1,950,000 after buying an additional 133,632 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of Gray Media in the first quarter valued at approximately $93,000. CWM LLC boosted its holdings in Gray Media by 638.5% during the first quarter. CWM LLC now owns 9,615 shares of the company’s stock worth $42,000 after purchasing an additional 8,313 shares during the last quarter. Bailard Inc. acquired a new position in shares of Gray Media during the 1st quarter worth approximately $359,000. Finally, Capital Management Corp VA increased its holdings in Gray Media by 19.2% during the first quarter. Capital Management Corp VA now owns 6,867,026 shares of the company’s stock worth $29,666,000 after buying an additional 1,103,690 shares during the last quarter. Institutional investors 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.