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

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

GTN has been the topic of several other research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Gray Media in a research note on Monday, December 29th. Wells Fargo & Company boosted their price target on Gray Media from $5.00 to $5.50 and gave the company an “equal weight” rating in a report on Monday, November 10th. Benchmark raised their price objective on Gray Media from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Finally, Zacks Research raised Gray Media from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $7.25.

Gray Media Stock Up 5.0%

GTN opened at $4.51 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 2.60. The firm has a market cap of $459.92 million, a P/E ratio of 10.99 and a beta of 0.89. Gray Media has a 52 week low of $3.13 and a 52 week high of $6.30. The business’s fifty day simple moving average is $4.73 and its 200 day simple moving average is $5.06.

Gray Media (NYSE:GTN) last announced 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. Gray Media had a net margin of 2.81% and a return on equity of 5.50%. The firm had revenue of $749.00 million during the quarter, compared to the consensus estimate of $745.25 million. During the same quarter in the previous year, the company posted $0.86 EPS. The firm’s revenue for the quarter was down 21.2% on a year-over-year basis. As a group, equities research analysts anticipate that Gray Media will post 3.32 EPS for the current fiscal year.

Institutional Trading of Gray Media

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in Gray Media in the first quarter valued at $28,000. M&T Bank Corp purchased a new position in shares of Gray Media in the 4th quarter worth about $51,000. Merit Financial Group LLC acquired a new position in shares of Gray Media in the 3rd quarter valued at about $59,000. FNY Investment Advisers LLC grew its holdings in shares of Gray Media by 27.4% during the 4th quarter. FNY Investment Advisers LLC now owns 13,000 shares of the company’s stock worth $62,000 after purchasing an additional 2,799 shares during the period. Finally, Wealth Alliance LLC acquired a new stake in Gray Media during the 3rd quarter worth approximately $63,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

About Gray Media

Gray Media (NYSE:GTN) is a U.S.-based broadcasting and digital media company that owns and operates a portfolio of local television stations and associated digital platforms. The company’s core business centers on delivering local news, sports and entertainment programming through its network-affiliated broadcast outlets. In addition to traditional over-the-air distribution, Gray Media supports multi-platform video streaming and on-demand services for audiences across its markets.

Gray Media’s television stations carry network programming from major national broadcasters, including ABC, CBS, NBC, Fox and The CW, and often feature locally produced news and public affairs content.