New York State Common Retirement Fund Purchases 504,780 Shares of Gray Media Inc. $GTN

New York State Common Retirement Fund increased its holdings in shares of Gray Media Inc. (NYSE:GTN) by 36.7% during the third quarter, Holdings Channel reports. The fund owned 1,881,087 shares of the company’s stock after purchasing an additional 504,780 shares during the period. New York State Common Retirement Fund’s holdings in Gray Media were worth $10,873,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC raised its position in Gray Media by 7.4% in the 1st quarter. Empowered Funds LLC now owns 464,859 shares of the company’s stock valued at $2,008,000 after purchasing an additional 32,173 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Gray Media in the first quarter valued at about $28,000. Public Employees Retirement System of Ohio raised its holdings in shares of Gray Media by 80.2% in the second quarter. Public Employees Retirement System of Ohio now owns 31,633 shares of the company’s stock valued at $143,000 after buying an additional 14,079 shares during the last quarter. CWM LLC lifted its position in Gray Media by 310.1% during the 2nd quarter. CWM LLC now owns 39,435 shares of the company’s stock worth $179,000 after buying an additional 29,820 shares in the last quarter. Finally, MQS Management LLC bought a new stake in Gray Media during the 2nd quarter worth about $87,000. 78.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GTN has been the subject of several research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Gray Media in a research report on Monday, December 29th. Wells Fargo & Company raised their price target on shares of Gray Media from $5.00 to $5.50 and gave the company an “equal weight” rating in a report on Monday, November 10th. Zacks Research upgraded shares of Gray Media from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. Wall Street Zen downgraded Gray Media from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Benchmark lifted their target price on Gray Media from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, November 10th. One 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 given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.25.

Gray Media Price Performance

GTN opened at $4.45 on Wednesday. The company has a fifty day moving average price of $4.72 and a two-hundred day moving average price of $5.05. The firm has a market capitalization of $453.79 million, a PE ratio of 10.84 and a beta of 0.89. Gray Media Inc. has a 52 week low of $3.13 and a 52 week high of $6.30. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.93 and a current ratio of 0.93.

Gray Media (NYSE:GTN) last posted its quarterly earnings results on Friday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.17. Gray Media had a return on equity of 5.50% and a net margin of 2.81%.The business had revenue of $749.00 million for the quarter, compared to analyst estimates of $745.25 million. During the same period last year, the company earned $0.86 EPS. The firm’s revenue was down 21.2% on a year-over-year basis. As a group, analysts anticipate that Gray Media Inc. will post 3.32 earnings per share for the current year.

Gray Media Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a dividend of $0.08 per share. The ex-dividend date was Monday, December 15th. This represents a $0.32 dividend on an annualized basis and a yield of 7.2%. Gray Media’s dividend payout ratio (DPR) is 78.05%.

Gray Media Company 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.