Gray Media Inc. $GTN Holdings Lifted by Allianz Asset Management GmbH

Allianz Asset Management GmbH raised its stake in shares of Gray Media Inc. (NYSE:GTN) by 155.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 370,758 shares of the company’s stock after buying an additional 225,843 shares during the period. Allianz Asset Management GmbH owned about 0.36% of Gray Media worth $2,143,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in GTN. Empowered Funds LLC increased its holdings in shares of Gray Media by 7.4% during the 1st quarter. Empowered Funds LLC now owns 464,859 shares of the company’s stock valued at $2,008,000 after acquiring an additional 32,173 shares during the last quarter. Acadian Asset Management LLC bought a new position in Gray Media in the first quarter worth $28,000. CWM LLC boosted its position in shares of Gray Media by 310.1% during the 2nd quarter. CWM LLC now owns 39,435 shares of the company’s stock valued at $179,000 after acquiring an additional 29,820 shares in the last quarter. MQS Management LLC acquired a new position in Gray Media in the second quarter worth about $87,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of Gray Media by 215.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 49,280 shares of the company’s stock worth $223,000 after buying an additional 33,672 shares during the period. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Gray Media in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Gray Media from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Benchmark lifted their price objective on Gray Media from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, November 10th. Zacks Research raised Gray Media from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. Finally, Wells Fargo & Company increased their price objective on shares of Gray Media from $5.00 to $5.50 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Gray Media presently has a consensus rating of “Moderate Buy” and an average target price of $7.25.

Gray Media Stock Performance

NYSE GTN opened at $4.64 on Friday. The firm has a 50-day moving average price of $4.69 and a two-hundred day moving average price of $5.02. Gray Media Inc. has a 12-month low of $3.13 and a 12-month high of $6.30. The company has a market capitalization of $473.19 million, a P/E ratio of 11.30 and a beta of 0.89. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 2.60.

Gray Media Profile

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.