Segall Bryant & Hamill LLC Buys Shares of 285,944 Gray Media Inc. $GTN

Segall Bryant & Hamill LLC bought a new position in Gray Media Inc. (NYSE:GTN) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 285,944 shares of the company’s stock, valued at approximately $1,241,000.

Several other institutional investors have also modified their holdings of GTN. Cetera Investment Advisers boosted its position in shares of Gray Media by 3.7% during the 1st quarter. Cetera Investment Advisers now owns 69,392 shares of the company’s stock valued at $301,000 after acquiring an additional 2,477 shares during the last quarter. Parallel Advisors LLC raised its stake in Gray Media by 57.1% during the first quarter. Parallel Advisors LLC now owns 7,901 shares of the company’s stock worth $34,000 after purchasing an additional 2,873 shares during the period. Deutsche Bank AG raised its stake in Gray Media by 6.0% during the fourth quarter. Deutsche Bank AG now owns 54,507 shares of the company’s stock worth $264,000 after purchasing an additional 3,066 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Gray Media by 68.2% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 10,401 shares of the company’s stock valued at $50,000 after purchasing an additional 4,217 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of Gray Media by 24.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 21,437 shares of the company’s stock valued at $104,000 after buying an additional 4,278 shares during the period. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Insider Activity at Gray Media

In related news, Director Richard Lee Boger sold 57,000 shares of Gray Media stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $4.40, for a total value of $250,800.00. Following the completion of the transaction, the director owned 4,591 shares in the company, valued at approximately $20,200.40. The trade was a 92.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 8.95% of the company’s stock.

Gray Media Trading Up 1.3%

Shares of NYSE GTN opened at $4.34 on Thursday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 2.72. The stock has a market capitalization of $446.30 million, a PE ratio of -2.84 and a beta of 0.94. Gray Media Inc. has a twelve month low of $3.50 and a twelve month high of $6.43. The stock has a fifty day simple moving average of $3.98 and a 200-day simple moving average of $4.52.

Gray Media (NYSE:GTN) last announced its earnings results on Thursday, May 7th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.02). The firm had revenue of $768.00 million for the quarter, compared to analysts’ expectations of $768.05 million. Gray Media had a negative net margin of 3.12% and a negative return on equity of 3.07%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.23) earnings per share. On average, equities analysts forecast that Gray Media Inc. will post 1.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GTN shares. Wall Street Zen raised shares of Gray Media from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Barrington Research restated an “outperform” rating and issued a $6.50 target price on shares of Gray Media in a research report on Tuesday, April 28th. Guggenheim lowered their price target on Gray Media from $8.00 to $7.00 and set a “buy” rating for the company in a report on Friday, May 15th. Finally, Weiss Ratings lowered shares of Gray Media from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 15th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Gray Media currently has a consensus rating of “Hold” and an average price target of $7.88.

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.