Gray Media Inc. (NYSE:GTN) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Gray Media Inc. (NYSE:GTN) has received an average recommendation of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $7.88.

A number of equities analysts have issued reports on GTN shares. Zacks Research raised shares of Gray Media from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 29th. Weiss Ratings downgraded Gray Media from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday. Finally, Wall Street Zen raised Gray Media from a “hold” rating to a “buy” rating in a report on Saturday.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Engineers Gate Manager LP boosted its holdings in Gray Media by 142.5% during the second quarter. Engineers Gate Manager LP now owns 38,604 shares of the company’s stock worth $153,000 after buying an additional 22,682 shares in the last quarter. Squarepoint Ops LLC grew its position in Gray Media by 12.3% in the second quarter. Squarepoint Ops LLC now owns 114,909 shares of the company’s stock worth $456,000 after buying an additional 12,610 shares during the last quarter. Odyssean LLC bought a new position in shares of Gray Media in the second quarter valued at $206,000. Secure Asset Management LLC bought a new position in shares of Gray Media in the second quarter valued at $67,000. Finally, Empowered Funds LLC acquired a new stake in shares of Gray Media during the 2nd quarter valued at $1,837,000. 78.64% of the stock is currently owned by institutional investors.

Gray Media Stock Up 0.6%

Shares of Gray Media stock traded up $0.03 during trading hours on Tuesday, hitting $4.46. 73,180 shares of the company’s stock traded hands, compared to its average volume of 1,289,006. The stock has a 50 day simple moving average of $4.76 and a 200-day simple moving average of $4.53. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 2.73. The company has a market cap of $458.78 million, a PE ratio of -7.30, a PEG ratio of 0.09 and a beta of 1.00. Gray Media has a twelve month low of $3.55 and a twelve month high of $6.43.

Gray Media (NYSE:GTN) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.29. Gray Media had a negative net margin of 0.83% and a negative return on equity of 1.12%. The firm had revenue of $839.00 million for the quarter, compared to analysts’ expectations of $795.13 million. During the same period in the prior year, the company posted ($0.71) earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. Equities research analysts anticipate that Gray Media will post 2.35 earnings per share for the current fiscal year.

Gray Media Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend was Tuesday, September 15th. Gray Media’s dividend payout ratio is -52.46%.

About Gray Media

Gray Media, Inc (NYSE:GTN), formerly known as Gray Television, is a multimedia company focused on local television broadcasting and digital media. The company owns and operates local television stations across the United States, providing news, weather, sports, entertainment and other programming to communities in its service areas.

In addition to its broadcast stations, Gray Media operates digital platforms and produces original content for local and national audiences. Its businesses also include production and distribution activities, allowing the company to serve viewers through over-the-air television, cable and satellite providers, websites, mobile applications and streaming platforms.

Gray Media traces its history to 1946, when it began with a single radio station in Albany, Georgia.