Gray Media (NYSE:GTN) Stock Rating Upgraded by Zacks Research

Gray Media (NYSE:GTN) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday, Zacks reports.

GTN has been the topic of several other research reports. Weiss Ratings upgraded Gray Media from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, September 25th. Wall Street Zen lowered Gray Media from a “buy” rating to a “hold” rating in a research report on Saturday, September 5th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Gray Media currently has an average rating of “Moderate Buy” and a consensus price target of $7.88.

Gray Media Trading Down 0.3%

Shares of GTN opened at $4.50 on Tuesday. Gray Media has a fifty-two week low of $3.55 and a fifty-two week high of $6.43. The firm has a market cap of $462.90 million, a price-to-earnings ratio of -7.37, a PEG ratio of 0.09 and a beta of 0.96. The firm has a 50 day moving average price of $4.68 and a 200-day moving average price of $4.53. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.95 and a current ratio of 0.95.

Gray Media (NYSE:GTN) last issued its earnings results on Friday, August 7th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.29. The company had revenue of $839.00 million for the quarter, compared to analysts’ expectations of $795.13 million. Gray Media had a negative net margin of 0.83% and a negative return on equity of 1.12%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.71) EPS. As a group, equities research analysts forecast that Gray Media will post 2.31 earnings per share for the current year.

Hedge Funds Weigh In On Gray Media

Hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc bought a new stake in shares of Gray Media in the second quarter worth about $32,000. Parallel Advisors LLC raised its position in Gray Media by 57.1% during the 1st quarter. Parallel Advisors LLC now owns 7,901 shares of the company’s stock valued at $34,000 after purchasing an additional 2,873 shares during the last quarter. Abel Hall LLC bought a new position in Gray Media during the 1st quarter valued at approximately $49,000. PDT Partners LLC bought a new position in Gray Media during the 2nd quarter valued at approximately $49,000. Finally, AXQ Capital LP purchased a new stake in Gray Media in the 4th quarter worth approximately $54,000. 78.64% of the stock is owned by institutional investors.

About Gray Media

Gray Media, Inc (NYSE: GTN) is a media company that owns and operates local television stations and digital media properties across the United States. Its stations provide local news, weather, sports, investigative reporting and community programming, while also carrying programming from major broadcast networks, including ABC, CBS, NBC, FOX and The CW.

The company’s operations include television broadcasting, digital publishing, video production and related media services. Gray Media also produces and distributes original content through its local stations and other media platforms, serving audiences in a range of metropolitan and regional markets.

Founded as Gray Television in 1946, the company expanded through acquisitions and organic growth before adopting the Gray Media name.