Capital Management Corp VA Has $34.14 Million Holdings in Gray Media Inc. $GTN

Capital Management Corp VA reduced its stake in Gray Media Inc. (NYSE:GTN) by 11.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,906,497 shares of the company’s stock after selling 781,754 shares during the quarter. Gray Media makes up 5.4% of Capital Management Corp VA’s investment portfolio, making the stock its 2nd largest holding. Capital Management Corp VA owned 5.79% of Gray Media worth $34,140,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new stake in shares of Gray Media in the first quarter valued at about $28,000. Merit Financial Group LLC bought a new stake in Gray Media in the 3rd quarter worth about $59,000. MQS Management LLC bought a new stake in Gray Media in the 2nd quarter worth about $87,000. Oxford Asset Management LLP increased its stake in Gray Media by 147.6% in the 2nd quarter. Oxford Asset Management LLP now owns 29,471 shares of the company’s stock valued at $134,000 after buying an additional 17,566 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. bought a new position in shares of Gray Media during the 2nd quarter worth approximately $138,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GTN has been the subject of several recent analyst reports. Benchmark upped their target price on Gray Media from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, November 10th. Wall Street Zen cut Gray Media from a “hold” rating to a “sell” rating in a research report on Saturday. Zacks Research raised Gray Media from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Wells Fargo & Company lifted their target price on Gray Media from $5.00 to $5.50 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Gray Media in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.25.

Gray Media Price Performance

Shares of NYSE GTN opened at $4.51 on Friday. 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 fifty day simple moving average of $4.73 and a two-hundred day simple moving average of $5.06. Gray Media Inc. has a 1-year low of $3.13 and a 1-year high of $6.30. The firm has a market cap of $459.92 million, a price-to-earnings ratio of 10.99 and a beta of 0.89.

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

Gray Media Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a $0.08 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.32 annualized dividend and a dividend yield of 7.1%. Gray Media’s dividend payout ratio (DPR) is presently 78.05%.

About Gray Media

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.