XTX Topco Ltd Decreases Holdings in Gray Media Inc. $GTN

XTX Topco Ltd trimmed its stake in Gray Media Inc. (NYSE:GTN) by 74.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,673 shares of the company’s stock after selling 176,456 shares during the period. XTX Topco Ltd’s holdings in Gray Media were worth $270,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GTN. Acadian Asset Management LLC bought a new position in Gray Media in the 1st quarter worth approximately $28,000. Pallas Capital Advisors LLC bought a new stake in shares of Gray Media during the second quarter valued at approximately $55,000. Banco BTG Pactual S.A. bought a new stake in shares of Gray Media in the 1st quarter valued at about $57,000. FORA Capital LLC purchased a new stake in shares of Gray Media in the 1st quarter worth approximately $85,000. Finally, Ieq Capital LLC purchased a new position in Gray Media during the first quarter valued at approximately $85,000. 78.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GTN has been the subject of a number of analyst reports. Benchmark upped 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. Barrington Research reissued an “outperform” rating and set a $6.50 price target on shares of Gray Media in a research report on Tuesday, September 23rd. Guggenheim boosted their price objective on shares of Gray Media from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, August 14th. Weiss Ratings reissued a “sell (d+)” rating on shares of Gray Media in a research report on Monday, December 1st. Finally, Wells Fargo & Company lifted their price target on shares of Gray Media from $5.00 to $5.50 and gave the stock an “equal weight” rating in a report on Monday, November 10th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Gray Media currently has a consensus rating of “Hold” and a consensus price target of $7.25.

Gray Media Stock Up 5.1%

Shares of GTN stock opened at $4.83 on Tuesday. 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 50 day moving average of $4.86 and a 200 day moving average of $4.97. Gray Media Inc. has a twelve month low of $2.91 and a twelve month high of $6.30. The stock has a market cap of $492.58 million, a P/E ratio of 11.77 and a beta of 0.89.

Gray Media (NYSE:GTN) last posted its quarterly earnings data on Friday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.17. Gray Media had a return on equity of 5.50% and a net margin of 2.81%.The company had revenue of $749.00 million for the quarter, compared to analysts’ expectations of $745.25 million. During the same period in the previous year, the firm posted $0.86 EPS. Gray Media’s revenue was down 21.2% compared to the same quarter last year. As a group, sell-side analysts expect that Gray Media Inc. will post 3.32 EPS for the current year.

Gray Media Announces Dividend

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 issued a dividend of $0.08 per share. The ex-dividend date is Monday, December 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 6.6%. Gray Media’s dividend payout ratio (DPR) is currently 78.05%.

Gray Media Profile

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.