Gray Media (NYSE:GTN) Upgraded at Zacks Research

Gray Media (NYSE:GTN) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Other analysts have also issued research reports about the stock. Wall Street Zen raised shares of Gray Media from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Benchmark lifted their price objective on Gray Media from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Wells Fargo & Company increased their target price on Gray Media from $5.00 to $5.50 and gave the company an “equal weight” rating in a research note on Monday, November 10th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Gray Media in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.25.

Gray Media Price Performance

Shares of GTN stock opened at $4.28 on Wednesday. The firm has a market cap of $436.43 million, a price-to-earnings ratio of 10.43 and a beta of 0.89. Gray Media has a 12 month low of $3.13 and a 12 month high of $6.30. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 2.60. The stock has a 50-day moving average price of $4.73 and a 200 day moving average price of $5.07.

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

Institutional Trading of Gray Media

Large investors have recently bought and sold shares of the business. M&T Bank Corp acquired a new stake in Gray Media during the 4th quarter worth approximately $51,000. State of Alaska Department of Revenue acquired a new stake in shares of Gray Media during the fourth quarter worth $102,000. FNY Investment Advisers LLC lifted its position in Gray Media by 27.4% in the 4th quarter. FNY Investment Advisers LLC now owns 13,000 shares of the company’s stock valued at $62,000 after acquiring an additional 2,799 shares in the last quarter. SG Americas Securities LLC increased its holdings in Gray Media by 25.0% during the 4th quarter. SG Americas Securities LLC now owns 94,570 shares of the company’s stock worth $458,000 after purchasing an additional 18,928 shares in the last quarter. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Gray Media in the 3rd quarter valued at about $80,000. 78.64% of the stock is owned by institutional investors.

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.