The stock of Gray Television, Inc (NYSE: GTN) has decreased by -3.22 when compared to last closing price of 4.35. Despite this, the company has experienced a -4.32% fall in its stock price over the last five trading sessions. globenewswire.com reported 2024-11-20 that ATLANTA, Nov. 20, 2024 (GLOBE NEWSWIRE) — Gray Television, Inc. (“Gray,” “Gray Media,” the “Company,” “we,” “us” or “our”) (NYSE: GTN) has completed a series of transactions that collectively reduced the Company’s principal amount of debt outstanding by $278 million since October 1, 2024, bringing the Company’s total principal debt reduction to $519 million since January 1, 2024. Accordingly, our Board of Directors today has authorized an increase in our previously announced debt repurchase authorization, replenishing the authorization to a total of $250 million of available liquidity to repurchase our outstanding indebtedness. We anticipate that the meaningful reduction in our outstanding debt this year will result in a significant reduction of cash interest expense going forward.
Is It Worth Investing in Gray Television, Inc (NYSE: GTN) Right Now?
Gray Television, Inc (NYSE: GTN) has a higher price-to-earnings ratio of 2.80x compared to its average ratio. GTN has 36-month beta value of 1.40. Analysts have mixed views on the stock, with 4 analysts rating it as a “buy,” 5 as “overweight,” 2 as “hold,” and 2 as “sell.”
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The public float for GTN is 84.34M, and currently, short sellers hold a 4.97% ratio of that float. The average trading volume of GTN on November 21, 2024 was 1.18M shares.
GTN’s Market Performance
GTN stock saw a decrease of -4.32% in the past week, with a monthly decline of -22.89% and a quarterly a decrease of -13.55%. The volatility ratio for the week is 5.90%, and the volatility levels for the last 30 days are 5.44% for Gray Television, Inc (GTN). The simple moving average for the last 20 days is -18.29% for GTN stock, with a simple moving average of -25.51% for the last 200 days.
Analysts’ Opinion of GTN
Wells Fargo, on the other hand, stated in their research note that they expect to see GTN reach a price target of $7, previously predicting the price at $25. The rating they have provided for GTN stocks is “Underweight” according to the report published on November 09th, 2022.
Wells Fargo gave a rating of “Overweight” to GTN, setting the target price at $26 in the report published on January 03rd of the previous year.
GTN Trading at -19.90% from the 50-Day Moving Average
After a stumble in the market that brought GTN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -58.19% of loss for the given period.
Volatility was left at 5.44%, however, over the last 30 days, the volatility rate increased by 5.90%, as shares sank -22.61% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -5.18% lower at present.
During the last 5 trading sessions, GTN fell by -4.32%, which changed the moving average for the period of 200-days by -52.05% in comparison to the 20-day moving average, which settled at $5.15. In addition, Gray Television, Inc saw -53.01% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at GTN starting from HOWELL HILTON H JR, who purchase 10,000 shares at the price of $8.09 back on Mar 28 ’24. After this action, HOWELL HILTON H JR now owns 2,982,386 shares of Gray Television, Inc, valued at $80,934 using the latest closing price.
Howell Robin Robinson, the Director of Gray Television, Inc, purchase 10,000 shares at $8.09 during a trade that took place back on Mar 28 ’24, which means that Howell Robin Robinson is holding 2,982,386 shares at $80,934 based on the most recent closing price.
Stock Fundamentals for GTN
Current profitability levels for the company are sitting at:
- 0.18 for the present operating margin
- 0.42 for the gross margin
The net margin for Gray Television, Inc stands at 0.06. The total capital return value is set at 0.06. Equity return is now at value 7.25, with 1.84 for asset returns.
Based on Gray Television, Inc (GTN), the company’s capital structure generated 0.74 points at debt to capital in total, while cash flow to debt ratio is standing at 0.08. The debt to equity ratio resting at 2.8. The interest coverage ratio of the stock is 1.33.
Currently, EBITDA for the company is 697.0 million with net debt to EBITDA at 5.64. When we switch over and look at the enterprise to sales, we see a ratio of 1.83. The receivables turnover for the company is 9.51for trailing twelve months and the total asset turnover is 0.33. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.13.
Conclusion
To put it simply, Gray Television, Inc (GTN) has had a bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
