Bank of Montreal Can Makes New $363,000 Investment in Gray Media Inc. $GTN

Bank of Montreal Can acquired a new stake in Gray Media Inc. (NYSE:GTN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 80,200 shares of the company's stock, valued at approximately $363,000. Bank of Montreal Can owned about 0.08% of Gray Media at the end of the most recent reporting period.

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Several other hedge funds also recently modified their holdings of GTN. Charles Schwab Investment Management Inc. grew its holdings in shares of Gray Media by 60.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,956,635 shares of the company's stock worth $8,453,000 after purchasing an additional 734,085 shares during the last quarter. Nuveen LLC bought a new position in shares of Gray Media during the first quarter valued at $2,876,000. Invst LLC acquired a new position in shares of Gray Media during the first quarter worth $2,018,000. Penn Capital Management Company LLC lifted its holdings in shares of Gray Media by 16.2% during the first quarter. Penn Capital Management Company LLC now owns 2,017,748 shares of the company's stock worth $8,740,000 after purchasing an additional 281,566 shares during the period. Finally, Versor Investments LP bought a new stake in shares of Gray Media in the first quarter worth $1,037,000. Institutional investors and hedge funds own 78.64% of the company's stock.

Analyst Ratings Changes

GTN has been the topic of a number of analyst reports. Barrington Research reaffirmed an "outperform" rating and issued a $6.50 price objective on shares of Gray Media in a research note on Tuesday, September 23rd. Guggenheim boosted their target price on shares of Gray Media from $6.00 to $7.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Benchmark upped their price target on shares of Gray Media from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Monday, November 10th. Wells Fargo & Company increased their price target on Gray Media from $5.00 to $5.50 and gave the stock an "equal weight" rating in a report on Monday, November 10th. Finally, Wall Street Zen lowered Gray Media from a "hold" rating to a "sell" rating in a research report on Sunday. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $7.25.

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View Our Latest Stock Report on Gray Media

Insiders Place Their Bets

In other Gray Media news, Director Richard Lee Boger sold 20,000 shares of the business's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $5.82, for a total transaction of $116,400.00. Following the sale, the director owned 61,343 shares of the company's stock, valued at $357,016.26. The trade was a 24.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 15.22% of the company's stock.

Gray Media Trading Down 0.7%

Shares of Gray Media stock opened at $4.84 on Wednesday. The company has a market capitalization of $493.59 million, a P/E ratio of 3.20 and a beta of 1.15. The stock has a fifty day simple moving average of $5.12 and a 200 day simple moving average of $4.91. Gray Media Inc. has a 12-month low of $2.91 and a 12-month high of $6.30. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.56.

Gray Media (NYSE:GTN - Get Free Report) last issued its quarterly earnings data on Friday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.41) by $0.17. The business had revenue of $749.00 million during the quarter, compared to the consensus estimate of $745.25 million. Gray Media had a net margin of 5.64% and a return on equity of 10.31%. The firm's quarterly revenue was down 21.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 EPS. Gray Media has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, sell-side analysts anticipate that Gray Media Inc. will post 3.32 earnings per share for the current fiscal year.

Gray Media Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, December 15th. This represents a $0.32 annualized dividend and a dividend yield of 6.6%. Gray Media's dividend payout ratio is presently 78.05%.

About Gray Media

Gray Television, Inc, a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It also broadcasts secondary digital channels affiliated to ABC, CBS, NBC, and FOX, as well as various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Circle, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.

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