Gray Media (NYSE:GTN.A) Shares Down 10.6% – Here’s What Happened

Shares of Gray Media Inc. (NYSE:GTN.A) dropped 10.6% during mid-day trading on Thursday . The company traded as low as $7.59 and last traded at $7.59. Approximately 131 shares changed hands during trading, a decline of 99% from the average daily volume of 11,603 shares. The stock had previously closed at $8.49.

Gray Media Price Performance

The stock’s 50-day moving average is $10.09 and its 200-day moving average is $10.82. The firm has a market cap of $811.65 million, a P/E ratio of -5.16 and a beta of 0.51. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 2.72.

Gray Media (NYSE:GTN.A) last announced its 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.