Gray Media (NYSE:GTN) Upgraded at Wall Street Zen

by · The Markets Daily

Gray Media (NYSE:GTN – Get Free Report) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

GTN has been the subject of several other research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Gray Media in a research note on Monday, December 29th. Wells Fargo & Company upped their price objective on shares of Gray Media from $5.00 to $5.50 and gave the stock an “equal weight” rating in a report on Monday, November 10th. Finally, Benchmark increased their price objective on shares of Gray Media from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $7.25.

Get Our Latest Stock Report on GTN

Gray Media Trading Down 4.1%

GTN stock traded down $0.19 during midday trading on Friday, hitting $4.34. 1,201,415 shares of the company’s stock were exchanged, compared to its average volume of 1,030,202. Gray Media has a 1-year low of $3.13 and a 1-year high of $6.30. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 2.60. The stock has a market capitalization of $442.56 million, a PE ratio of 10.57 and a beta of 0.89. The business has a 50-day simple moving average of $4.77 and a two-hundred day simple moving average of $5.10.

Gray Media (NYSE:GTN – Get Free Report) last announced its quarterly earnings results on Friday, November 7th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.17. The business had revenue of $749.00 million for the quarter, compared to analyst estimates of $745.25 million. Gray Media had a return on equity of 5.50% and a net margin of 2.81%.The company’s quarterly revenue was down 21.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.86 EPS. On average, sell-side analysts predict that Gray Media will post 3.32 EPS for the current fiscal year.

Institutional Trading of Gray Media

A number of large investors have recently modified their holdings of GTN. Acadian Asset Management LLC acquired a new stake in shares of Gray Media in the first quarter valued at $28,000. Merit Financial Group LLC purchased a new stake in Gray Media during the 3rd quarter worth about $59,000. FNY Investment Advisers LLC increased its holdings in 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. Wealth Alliance LLC acquired a new stake in Gray Media in the 3rd quarter valued at about $63,000. Finally, Man Group plc acquired a new position in shares of Gray Media during the third quarter worth about $71,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

About Gray Media

(Get Free Report)

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.

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