Political ad strength is now fueling Gray's debt reduction push.
GTN Gray Media, Inc.
XNYS
5.60
Delayed
Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
GTN
$5.60
—
What changed
Recent filings, trades and movesKey stats
$5.60
- 52-Week Range
- $3.55 – $6.43
- YTD
- +16.67%
- IV Rank (30D)
- 0.61
- Straddle Price
- $0.82
- P/C Vol Ratio
- 0.03
- Market Cap
- $0.5B
- Open
- $5.21
- Day Range
- $5.13 – $5.60
- Volume
- 3,134,970
- Prev Close
- $4.92
Fair Value
+50.0% vs price
A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.
- DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
- Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
- DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
- P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
- Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
- Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
- Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
- Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
| 10-yr Treasury (rf) | 4.90% |
| Beta vs SPY | 0.91 |
| Cost of Equity (CAPM) | 9.45% (VRP-adj) |
| WACC | 5.44% |
| Volatility Risk Premium | +106.3pp (IV − HV30) |
| Effective Tax Rate | 21.0% |
| Rev. Growth (YoY, DCF input) | -0.5% |
| DCF Horizon | 5 years explicit + fade |
| Free Cash Flow (TTM) | $0.1B |
| Return on Equity (TTM) | -2.7% |
| Book / Price | 442.8% — banking bias active (P/B is primary) |
| Gross Margin (TTM) | 24.7% |
| FCF Margin (TTM) | 4.7% |
| Debt / Equity | 2.72 |
| Quality Score | 1/6 — cyclical/struggling (5y DCF) |
| Market-Implied Growth | +6.0% (reverse-DCF on current price) |
| SMA 50 | $4.65 (Market Anchor value) |
| SMA 20 / Bollinger Mid | $4.56 |
| Bollinger Width / SMA20 | 17.3% (drives anchor stability) |
| Net Debt | $5.5B |
| Market Cap | $0B |
Peers used for multiples: AROC, AVT, CALM, CRC, VCTR, WLY
(filtered from 8 ETF-co-members; sector bias active)
Blended Fair Value
$14.71
Deviation
+50.0%
| Method | Implied Price | Weight | Detail |
|---|---|---|---|
| DCF | $-11.03 | 0% | |
| DDM (Gordon) | $3.99 | 25% | |
| Peer P/E | n/a | 0% | median 18.8× · 5 peers |
| Peer EV/EBITDA | $7.36 | 10% | median 9.4× · 6 peers |
| Peer P/B | $46.29 | 12% | median 2.1× · 6 peers |
| Peer P/S | $43.67 | 12% | median 1.4× · 6 peers |
| Market Anchor (SMA50) | $4.65 | 40% | stability 64% (BB-width) |
| Options Expected (B-L 30d) | n/a | 0% |
As of 2026-11-09 · updated
Related
About
- Industry (SIC)
- TELEVISION BROADCASTING STATIONS (4833) · industry map
- Exchange
- XNYS
- Market Cap
- $0.5B
- Employees
- 9,582
- List Date
- 1996-09-24
- CIK
- 0000043196
- Last Earnings
- Nov 6 before open · +0.8% vs ±14.3% expected
- Next Earnings
- ~Feb 25, 2027 (estimated)
- Headquarters
- Atlanta, GA
- Homepage
- https://www.graymedia.com
Gray Media Inc is a multimedia company. The company owns and operates local television stations and digital assets. It also owns Gray Digital Media, a full-service digital agency offering national and local clients digital marketing strategies with digital products and services. Its additional media properties include video production companies Raycom Sports, Tupelo Media Group, and PowerNation Studios, and studio production facilities Assembly Atlanta and Third Rail Studios. The company's segments include Broadcasting and Production Companies. The majority of revenue is derived from broadcast…
Summary
—
composite
—
No summary data available for this symbol yet.
Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | -3.13% | -3.70% | 16.97% | 4.60% | 11.64% | -6.04% | 3.39% |
| Feb | 0.00% | 10.78% | -13.59% | -39.42% | 1.62% | 14.32% | -4.38% |
| Mar | -3.41% | -7.54% | -24.17% | 10.49% | 17.07% | -17.65% | -4.20% |
| Apr | 7.40% | -16.58% | -9.19% | -4.49% | -22.45% | 28.18% | -2.85% |
| May | 4.92% | 5.79% | -11.01% | 4.00% | 18.86% | -29.15% | -1.10% |
| Jun | -0.30% | -13.21% | 13.87% | -18.24% | 17.36% | -2.46% | -0.50% |
| Jul | -7.82% | 5.63% | 18.23% | 24.13% | -2.80% | -0.62% | 6.12% |
| Aug | 2.43% | 1.81% | -12.39% | -16.12% | 37.44% | 15.64% | 4.80% |
| Sep | -0.39% | -24.31% | -11.40% | 7.85% | -1.03% | -5.06% | -5.72% |
| Oct | 1.38% | -4.39% | -3.12% | 5.94% | -18.68% | -0.44% | -3.22% |
| Nov | -14.76% | -22.16% | 23.09% | -26.25% | 6.96% | 20.43%* | -2.12% |
| Dec | -1.27% | -3.28% | 9.27% | -27.92% | 2.33% | -- | -4.17% |
| Total | -15.65% | -55.73% | -15.66% | -64.04% | 69.08% | 2.51% | -13.25% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $4.62
SMA 50: $4.66
SMA 200: $4.61
Current: $5.60
EMA 12: $4.83
EMA 26: $4.70
MACD: 0.1286 | Signal: 0.1027
BULLISH
ADX (14): 15.59
RANGE
+DI: 38.66
−DI: 21.89
Momentum Oscillators
RSI (14): 74.16
OVERBOUGHT
Stoch %K: 78.00
Stoch %D: 75.47
Williams %R: 0.00
Volume & Volatility
BB Upper: $5.21
BB Lower: $4.02
OVERBOUGHT
OBV: 20,154,078
Vol SMA 20: 1,033,463
Vol ROC: 304.30%
ATR: $0.28
True Range: $0.68
HV 20: 62.1%
HV 30: 56.3%
HV 60: 47.7%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-11-11T00:00:00 – 2026-11-09T00:00:00
AI Analysis
Written before GTN’s Nov 6 earnings report, so it doesn’t reflect the results.
LLM Stock Analysis Report
Executive Summary
BULLISH (Confidence Level: 7/10)
Key drivers: Earnings beats, positive news sentiment, and moderate volatility.
Primary risks: High IV premium, potential for mean reversion, and risk of a short-term pullback.
Investment thesis: GTN's recent earnings beat, combined with positive news sentiment, suggests the stock is likely to continue its upward trend. However, high IV premiums and moderate volatility pose some risk to this upside potential.
Recent news sentiment impact: The overall news sentiment has been neutral, but there are a few positive headlines that have contributed to the stock's recent price movement.
Technical Analysis
Trend Direction: Short-term (1-4 weeks) - Uptrend; Medium-term (1-3 months) - Consolidation; Long-term (3-12 months) - Bullish
Support/Resistance Levels:
- SMA 20: $4.13 (key support)
- SMA 50: $4.01 (key resistance)
- Upper Bollinger Band: $4.64 (resistance)
Momentum Signals:
- RSI interpretation: Overbought (>70) - potential sell signal
- MACD signal: Bullish momentum (above signal line)
- Bollinger Bands position: Squeeze (price approaching upper band)
Volume Analysis: Volume trends suggest institutional interest, with a high volume rate of change and an increasing volume SMA 20.
News & Sentiment Analysis
Recent Headlines Summary: The past 10 news articles have been mostly neutral, with a few positive headlines contributing to the stock's recent price movement. The most recent headline about Scripps completing its acquisition of WTVQ in Lexington has had little impact on the stock's price.
Sentiment Assessment: Aggregate news sentiment is NEUTRAL, but there are some positive sentiments that have contributed to the stock's recent price movement.
Catalyst Identification: Upcoming earnings release and potential mean reversion from current overbought levels.
Market Narrative: The news headlines do not contradict the technical signals, as the overall trend remains bullish. However, the high IV premium suggests some risk of a short-term pullback.
Risk & Volatility Assessment
Beta Interpretation: Beta is 0.97, indicating moderate volatility and a relatively low risk compared to the market.
Volatility Regime: Current volatility is moderate (0.64), with historical volatility ranging from 52.8% to 56.3%.
Options Market Signals: IV rank is 58.4%, indicating medium-high volatility. The put/call volume ratio suggests bullish sentiment, while the options market expectation is for a $0.80 move by expiration.
Downside Protection: Support levels include SMA 20 and the lower Bollinger Band ($3.62).
Market Context & Positioning
Sector Performance: GTN's performance has been relatively strong compared to its sector peers.
Institutional Activity: Volume trends suggest institutional interest, with a high volume rate of change and an increasing volume SMA 20.
Correlation Analysis: The stock has a moderate correlation (0.19) with the market, indicating some independence from broader market movements.
Relative Valuation: GTN's price is relatively strong compared to its historical trading range.
Key Levels & Action Items
Critical Price Levels:
- SMA 20: $4.13 (key support)
- SMA 50: $4.01 (key resistance)
- Upper Bollinger Band: $4.64 (resistance)
Breakout/Breakdown Levels: The lower Bollinger Band ($3.62) is the nearest level of significant support, with potential for a breakout above the upper Bollinger Band.
Time-Sensitive Catalysts: Upcoming earnings release and potential mean reversion from current overbought levels.
Risk Management: Consider setting stop-loss levels around SMA 20 and the lower Bollinger Band to manage risk.
Generated
News
All GTN news →
Earnings History
18 of 23 under expected move
Avg Expected Move
15.37%
Avg Actual Move
9.56%
| Earnings Date | Timing | Expected Move | Actual Move | Ratio | Outcome |
|---|---|---|---|---|---|
| 2021-02-25 | Pre-Market | 11.81% | 6.44% | 0.55x | Within |
| 2021-08-05 | Pre-Market | 4.07% | 1.90% | 0.47x | Within |
| 2021-10-20 | Pre-Market | 5.34% | 2.41% | 0.45x | Within |
| 2022-02-25 | Pre-Market | 5.43% | 9.43% | 1.74x | Exceeded |
| 2022-05-06 | Pre-Market | 10.09% | 1.86% | 0.18x | Within |
| 2022-08-05 | Pre-Market | 8.66% | 0.97% | 0.11x | Within |
| 2022-11-04 | Pre-Market | 3.33% | 33.65% | 10.11x | Exceeded |
| 2023-02-24 | Pre-Market | 11.08% | 4.16% | 0.38x | Within |
| 2023-05-05 | Pre-Market | 16.27% | 4.63% | 0.28x | Within |
| 2023-08-04 | Pre-Market | 15.23% | 20.27% | 1.33x | Exceeded |
| 2023-11-08 | Pre-Market | 11.83% | 7.66% | 0.65x | Within |
| 2024-01-30 | Pre-Market | 9.56% | 0.41% | 0.04x | Within |
| 2024-05-07 | Pre-Market | 16.82% | 0.60% | 0.04x | Within |
| 2024-08-08 | Pre-Market | 12.36% | 14.64% | 1.18x | Exceeded |
| 2024-11-08 | Pre-Market | 15.11% | 26.08% | 1.73x | Exceeded |
| 2025-02-27 | Pre-Market | 30.36% | 0.52% | 0.02x | Within |
| 2025-05-08 | Pre-Market | 38.31% | 16.94% | 0.44x | Within |
| 2025-08-08 | After-Close | 23.61% | 22.52% | 0.95x | Within |
| 2025-11-07 | Pre-Market | 18.48% | 4.78% | 0.26x | Within |
| 2026-02-26 | After-Close | 19.56% | 11.73% | 0.60x | Within |
| 2026-05-07 | After-Close | 24.89% | 2.04% | 0.08x | Within |
| 2026-08-07 | Pre-Market | 26.87% | 25.47% | 0.95x | Within |
| 2026-11-06 | Pre-Market | 14.34% | 0.82% | 0.06x | Within |
Earnings calendar: this week’s reports with expected vs actual moves →
GTN Options Activity & IV Rank
GTN IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 46.2%
7-DTE IV: 64.5%
Expected Move: $0.82
7-DTE Move: $0.70
Days to Exp: 39 (2026-12-18)
Options Flow · All expiries
Call Volume: 2,353
Put Volume: 70
P/C Volume: 0.03
BULLISH
Call OI: 5,755
Put OI: 3,146
P/C OI: 0.547
Total OI: 8,901
ATM Options Pricing
ATM Call: $0.60
ATM Put: $0.23
Call %: 10.7%
Put %: 4.0%
Chain Summary
Chain Volume: 2,423
Chain OI: 8,901
Last Updated: 11/9/2026
Spread Scanner
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Calendars: the long leg is valued at the short leg’s expiration (Black-Scholes at its current IV) across the range of prices the short leg’s IV implies, giving the best-case profit (R/R = that over the debit) and P(profit).
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Scanning bull put, bear call, iron condor and calendar spreads…
Dealer Positioning
HIGH γ vs HISTORY
Estimated net dealer gamma is at the 96th percentile of this name's own daily history, near the high end of its range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
96%
vs own history
GEX tilt
+0.92
OI-weighted, today
Vanna tilt
-0.93
δ-sensitivity to IV
Charm tilt
+0.94
δ-decay vs time
Vanna tilt -0.93: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt +0.94: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 6 ATM contracts, 4k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
No data
30 DTE / 10d
—
—
pts
EXTREME
No data
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Loading the implied volatility surface…
Volatility Smile
Loading the implied volatility smile…
IV Rank (7 DTE)5.7LowNov 9
IV Rank (30 DTE)0.6LowNov 9
Straddle Price (30 DTE)$0.82Nov 9
Beta Analysis
Risk Metrics
Beta: 1.0740
Alpha: 21.90%
Correlation: 0.2287
R-Squared: 5.2%
Stock Volatility: 64.6%
Market Volatility: 13.8%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Above average volatility - stock moves with market amplification
Above average volatility - stock moves with market amplification
Beta & Alpha Over Time
Notable investors who own GTN
3 of 37 tracked investors
| Investor | Value | Share of their portfolio | Rank | Q/Q shares | Source |
|---|---|---|---|---|---|
| Citadel Hedge fund Ken Griffin | $1.7M | #3100 of 6285 | +111.3% | 13F | |
| Millennium Management Hedge fund Izzy Englander | $111K | #3599 of 3716 | -5.8% | 13F | |
| Rockefeller Capital Management Family office Rockefeller family | $11K | #3959 of 4729 | -54.0% | 13F |
Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions
GTN Institutional Ownership (13F)
Filings for 2026-06-30 · 66 already for 2026-09-30
? 13F Guide
Diluted shares outstanding: 97,000,000 (as of 2026-03-31)
Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
7 filers$1.09M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Jane Street Group, LLC Custodian | $377.55K | 34.64% | 2026-06-30 |
| 2 | Walleye Capital LLC | $209.22K | 19.19% | 2026-06-30 |
| 3 | Citadel Advisors LLC Custodian | $197.71K | 18.14% | 2026-06-30 |
| 4 | Susquehanna International Group, LLP Custodian | $130.61K | 11.98% | 2026-06-30 |
| 5 | Simplex Trading, LLC Custodian | $90.45K | 8.30% | 2026-09-30 |
| 6 | WOLVERINE ASSET MANAGEMENT LLC | $53.10K | 4.87% | 2026-09-30 |
| 7 | GROUP ONE TRADING LLC Custodian | $31.36K | 2.88% | 2026-06-30 |
5 filers$1.44M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | WOLVERINE ASSET MANAGEMENT LLC | $1.20M | 83.30% | 2026-09-30 |
| 2 | Citadel Advisors LLC Custodian | $107.19K | 7.45% | 2026-06-30 |
| 3 | Susquehanna International Group, LLP Custodian | $82.58K | 5.74% | 2026-06-30 |
| 4 | Jane Street Group, LLC Custodian | $49.62K | 3.45% | 2026-06-30 |
| 5 | Walleye Capital LLC | $794 | 0.06% | 2026-06-30 |
GTN Board & Officers
As of SEC filings through May 21, 2026Directors 10
- Hilton H Howell Jr · on file since 2006
- Howell Newton · on file since 2006
- Richard Lee Boger · on file since 2006
- Robin Robinson Howell · since May 30, 2012
- Luis A. Garcia · since Jun 30, 2016
- Richard B Hare · since Sep 30, 2016
- D Patrick LaPlatney · since Jan 2, 2019
- Paul McTear · since Jan 2, 2019
- Sterling A Spainhour Jr. · since Feb 25, 2021
- Lorri McClain · since Mar 1, 2022
Officers 5
- Hilton H Howell Jr · Chairman, President & CEO · listed since Jan 2017
- D Patrick LaPlatney · President and Co-CEO · listed since Dec 2023
- Sandra Breland McNamara · Executive Vice President, COO · since May 22, 2023
- Jeffrey R Gignac · Executive Vice President, CFO · listed since Feb 2025
- Kevin Paul Latek · EVP Chief L & D Officer · listed since Dec 2025
Changes in the last 10 years (19)
| Dec 3, 2025 | Kevin Paul Latek first listed as EVP Chief L & D Officer in an SEC filing |
| Feb 24, 2025 | Jeffrey R Gignac listed as Executive Vice President, CFO (previously EVP, Finance) in SEC filings |
| Dec 3, 2024 | Kevin Paul Latek reported in an SEC filing no longer being EVP Chief L & D Officer |
| Jul 2, 2024 | James C Ryan reported in an SEC filing no longer being EVP & Chief Financial Officer |
| Apr 1, 2024 | Jeffrey R Gignac became EVP, Finance |
| Dec 8, 2023 | D Patrick LaPlatney first listed as President and Co-CEO in an SEC filing |
| May 22, 2023 | Sandra Breland McNamara became Executive Vice President, COO |
| May 17, 2023 | T L Elder reported in an SEC filing no longer being a director |
| Apr 13, 2023 | Robert Lawrence Smith left as SVP & COO, per their own SEC filing |
| Mar 1, 2022 | Lorri McClain became a director |
| Feb 25, 2021 | Sterling A Spainhour Jr. became a director |
| Nov 26, 2019 | BANKERS FIDELITY LIFE INSURANCE CO became a 10% owner |
| Jan 2, 2019 | Paul McTear became a director |
| Jan 2, 2019 | D Patrick LaPlatney became a director |
| Jan 1, 2019 | Robert Lawrence Smith became SVP & COO |
| Jan 1, 2019 | Kevin Nichols Waller became SVP & CAO |
| Mar 16, 2018 | Harriett J Robinson no longer listed as a director in SEC filings |
| Jan 19, 2017 | Kevin Paul Latek listed as EVP Chief L & D Officer (previously Senior V.P., Business Affairs) in SEC filings |
| Jan 19, 2017 | Hilton H Howell Jr listed as Chairman, President & CEO (previously Vice Chairman, President & CEO) in SEC filings |
Not reported recently (7)
- Jackson S Cowart IV · Last reported as Chief Accounting Officer in an SEC filing dated Mar 4, 2025
- Harriett J Robinson · Last reported as a 10% owner in an SEC filing dated Dec 21, 2022
- Kevin Nichols Waller · Last reported as SVP & CAO in an SEC filing dated Mar 3, 2020
- Atlantic American Corp · Last reported as a 10% owner in an SEC filing dated Dec 18, 2019
- BANKERS FIDELITY LIFE INSURANCE CO · Last reported as a 10% owner in an SEC filing dated Dec 18, 2019
- Hugh Norton · Last reported as a director in an SEC filing dated Jun 3, 2019
- Elizabeth R. Neuhoff · Last reported as a director in an SEC filing dated Jun 3, 2019
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.
GTN Proposed Insider Sales (Form 144)
Latest: 2026-05-15
? Form 144 Guide
Last 30d:
0 filings
· Last 90d:
0 filings
What is Form 144? A notice of intent to sell restricted or control stock under Rule 144. Affiliates (officers, directors, 10%+ owners) and holders of restricted shares must file Form 144 when planning to sell more than 5,000 shares or $50,000 in any 3-month rolling window.
How it relates to Form 4: Form 144 is filed before the trade (up to 90 days in advance); Form 4 is filed within 2 business days after the trade executes. Not every Form 144 results in a sale — the filer may cancel or delay. Look for the corresponding Form 4 on the Insider Activity card to confirm a sale actually happened.
10b5-1 plans: Trades made under a pre-scheduled Rule 10b5-1 plan are not discretionary — they execute automatically on dates set months earlier, regardless of news. High 10b5-1 percentages mean less per-filing signal value, though cumulative selling volume still matters.
"Notice value": Aggregate market value the filer wrote into the Form 144 — i.e. the size of the planned sale, not necessarily the executed dollars. An amended notice (Form 144/A) replaces the original it amends, and cancelled notices are dropped, so neither is double-counted above. A filed value that is clearly inconsistent with the share count at the stock's price (a filer typo) shows as a dash and is left out of the totals.
Source & freshness: Sourced from public Form 144 filings. Refreshed daily; new filings typically appear here the morning after they are filed.
| Filed | Filer | Role | Shares | Notice Value | Planned Sale | Broker | Plan | Link |
|---|---|---|---|---|---|---|---|---|
| 2026-05-15 | BOGER RICHARD LEE | Director | 55,000 | $227.2K | 2026-05-15 | The Charles Schwab Corporation | — | EDGAR |
| 2025-09-08 | BOGER RICHARD LEE | Director | 20,000 | $123.6K | 2025-09-08 | Charles Schwab Corp. | — | EDGAR |
| 2025-02-28 | BOGER RICHARD LEE | Director | 16,000 | $61.4K | 2025-02-28 | Charles Schwab Corp. | — | EDGAR |
| 2024-12-11 | McTear Paul | Director | 17,880 | $74.0K | 2024-12-11 | Charles Schwab Corporation | — | EDGAR |
| 2024-12-02 | Latek Kevin Paul | Officer | 150,216 | $650.4K | 2024-12-02 | Charles Schwab Corp | — | EDGAR |
| 2023-05-12 | ELDER T L | Director | 38,942 | $292.8K | 2023-05-12 | Charles Schwab Corp | — | EDGAR |
Notice value is the aggregate market value the filer states they intend to sell — not a confirmed transaction. Compare to Insider Activity (Form 4) to see which planned sales actually executed. Market-wide feed: Planned sales (Form 144).
Recent SEC Filings
Latest: 2026-11-06
Current reports — material events the company must disclose within 4 business days (earnings releases, M&A, executive changes, etc.).
| Filing Date | Event | Link |
|---|---|---|
| 2026-11-06 | Regulation FD disclosure | EDGAR |
| 2026-11-06 | Other events | EDGAR |
| 2026-11-06 | Earnings results | EDGAR |
| 2026-10-09 | Material agreement · New debt obligation · Other events | EDGAR |
| 2026-10-09 | Material agreement · New debt obligation · Other events | EDGAR |
| 2026-09-28 | Earnings results | EDGAR |
| 2026-08-21 | Material agreement · New debt obligation · Other events | EDGAR |
| 2026-08-18 | Other events | EDGAR |
| 2026-08-17 | Other events | EDGAR |
| 2026-08-07 | Regulation FD disclosure | EDGAR |
Annual report — audited financial statements, MD&A, risk factors. Filed 60–90 days after fiscal year-end.
| Filing Date | Accession | Link |
|---|
ETF Holders
58 ETFs hold GTN
25 shown · $75.80M total exposure · 0.01% AUM-weighted avg weight
| # | ETF | Provider | Weight | $ Exposure | ETF AUM | As Of |
|---|---|---|---|---|---|---|
| 1 | VTI Vanguard Morningstar Total Stock Market ETF | Vanguard | 0.00% | $11.9M | — | 2026-09-30 |
| 2 | IWM iShares Russell 2000 ETF | iShares (BlackRock) | 0.02% | $11.6M | $76.6B | 2026-11-06 |
| 3 | FNDA Schwab Fundamental U.S. Small Company ETF | Nport | 0.10% | $9.0M | — | 2026-08-31 |
| 4 | DFSV Dimensional US Small Cap Value ETF | Dimensional | 0.03% | $8.2M | — | 2026-11-05 |
| 5 | IWN iShares Russell 2000 Value ETF | iShares (BlackRock) | 0.03% | $4.2M | $13.9B | 2026-11-06 |
| 6 | VXF Vanguard Extended Market ETF | Vanguard | 0.00% | $4.2M | — | 2026-09-30 |
| 7 | DFAT Dimensional US Targeted Value ETF | Dimensional | 0.01% | $3.7M | — | 2026-11-05 |
| 8 | DFAS Dimensional US Small Cap ETF | Dimensional | 0.01% | $3.5M | — | 2026-11-05 |
| 9 | VTWO Vanguard Russell 2000 ETF | Vanguard | 0.01% | $2.3M | — | 2026-09-30 |
| 10 | SCHA Schwab U.S. Small-Cap ETF | Nport | 0.01% | $2.0M | — | 2026-08-31 |
| 11 | DES WisdomTree U.S. SmallCap Dividend Fund | Nport | 0.09% | $1.9M | — | 2026-06-30 |
| 12 | BSVO EA Bridgeway Omni Small-Cap Value ETF | Nport | 0.07% | $1.7M | — | 2026-06-30 |
| 13 | DFAC Dimensional US Core Equity 2 ETF | Dimensional | 0.00% | $1.6M | — | 2026-11-05 |
| 14 | VOX Vanguard Communication Services ETF | Vanguard | 0.02% | $1.5M | — | 2026-09-30 |
| 15 | DFMC Dimensional US Micro Cap ETF | Dimensional | 0.02% | $1.3M | — | 2026-11-05 |
| 16 | VFVA Vanguard U.S. Value Factor ETF | Vanguard | 0.12% | $1.1M | — | 2026-11-05 |
| 17 | FESM Fidelity Enhanced Small Cap Core ETF | Fidelity | 0.02% | $1.1M | $6.6B | 2026-11-05 |
| 18 | DGRS WisdomTree U.S. SmallCap Quality Dividend Growth Fund | Nport | 0.23% | $900,761 | — | 2026-06-30 |
| 19 | PSC Principal U.S. Small-Cap ETF | Nport | 0.04% | $882,551 | — | 2026-06-30 |
| 20 | PRFZ Invesco RAFI US 1500 Small-Mid ETF | Nport | 0.03% | $740,423 | — | 2026-07-31 |
| 21 | BSJT Invesco BulletShares 2029 High Yield Corporate Bond ETF | Invesco | 0.10% | $573,386 | — | 2026-11-05 |
| 22 | SMLF iShares U.S. Small-Cap Equity Factor ETF | iShares (BlackRock) | 0.01% | $528,152 | $4.2B | 2026-11-06 |
| 23 | ITOT iShares Core S&P Total U.S. Stock Market ETF | iShares (BlackRock) | 0.00% | $525,682 | $93.2B | 2026-11-06 |
| 24 | DCOR Dimensional US Core Equity 1 ETF | Dimensional | 0.00% | $508,413 | — | 2026-11-05 |
| 25 | JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF | JPMorgan | 0.09% | $487,985 | $560.5M | 2026-11-06 |
Fundamentals
Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.
Metrics
- Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
- Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
- Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
- Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
- Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
- YoY growth — compare to the same quarter a year earlier to remove seasonality.
- Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
- Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.
TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.
Trailing P/E
—
TTM Diluted EPS
$-1.51
TTM Revenue
$3.08B
TTM Net Income
$-148.00M
TTM Op. Cash Flow
$158.00M
Quarterly figures (12 quarters)
| Quarter | Period End | Revenue | Net Income | Diluted EPS | Op. Cash Flow |
|---|---|---|---|---|---|
| Q1 '26 | 2026-03-31 | $768.00M | $-33.00M | $-0.34 | $1.00M |
| Q4 '25 | 2025-12-31 | $792.00M | $-23.00M | $-0.22 | $112.00M |
| Q3 '25 | 2025-09-30 | $749.00M | $-23.00M | $-0.24 | $14.00M |
| Q2 '25 | 2025-06-30 | $772.00M | $-69.00M | $-0.71 | $31.00M |
| Q1 '25 | 2025-03-31 | $782.00M | $-22.00M | $-0.23 | $132.00M |
| Q4 '24 | 2024-12-31 | $1.04B | $156.00M | $1.62 | $368.00M |
| Q3 '24 | 2024-09-30 | $950.00M | $83.00M | $0.86 | $297.00M |
| Q2 '24 | 2024-06-30 | $826.00M | $9.00M | $0.09 | $18.00M |
| Q1 '24 | 2024-03-31 | $823.00M | $75.00M | $0.79 | $68.00M |
| Q4 '23 | 2023-12-31 | $864.00M | $-22.00M | $-0.24 | $83.00M |
| Q3 '23 | 2023-09-30 | $803.00M | $-53.00M | $-0.57 | $106.00M |
| Q2 '23 | 2023-06-30 | $813.00M | $-9.00M | $-0.10 | $47.00M |
Q1 2026 • period ending 2026-03-31 • filed 2026-05-07
Valuation
Ratios derived from TTM financials and the current market price, sampled daily. History chart shows how expensive the stock is today relative to its own recent past.
Price Multiples
- P/E — price / TTM earnings. Rough market rule: 10–15 value, 15–25 market, >30 growth/premium. Negative when earnings are negative.
- P/B — price / book value. Useful for financials and asset-heavy names; meaningless for asset-light software.
- P/S — price / TTM revenue. Useful when earnings are negative or noisy (early-stage growth).
- EV/EBITDA — capital-structure-neutral. <10 cheap, 10–15 reasonable, >20 rich. Good for comparing across leverage profiles.
- EV/Sales — like P/S but accounts for debt + cash. Compare within sector.
Profitability & Yields
- ROE — return on equity. >15% strong, >25% exceptional. Caution: high leverage inflates ROE.
- ROA — return on assets. Leverage-neutral; >5% solid, >10% exceptional.
- Div Yield — annual dividend / price. Compare to 10Y Treasury; sustained yield >6% often signals distress.
- FCF Yield — free cash flow / market cap. >5% is attractive; negative means burning cash.
Balance Sheet
- Debt/Equity — leverage. <1 conservative, >2 aggressive. Sector-dependent (utilities naturally high, tech low).
- Current Ratio — short-term liquidity. >1.5 comfortable, <1 raises short-term solvency flags.
Reading the history chart
- Compare current level to the 3-year band: near the high end = relatively expensive; near the low = relatively cheap.
- Multiples expanding while earnings are flat = sentiment-driven rally.
- Multiples compressing while earnings grow = value coming from fundamentals.
P/E
—
P/B
0.26
P/S
0.18
EV/EBITDA
9.14
EV/Sales
1.96
ROE
-7.0%
ROA
-1.4%
Div Yield
17.17%
FCF Yield
29.09%
Debt/Equity
2.72
Current Ratio
—
Market Cap
$543.20M
as of 2026-11-09
GTN vs Peers
Related companies, largest first| Company | Market cap | P/E | Revenue growth | YTD | IV rank |
|---|---|---|---|---|---|
| GOOGL Alphabet Inc. Class A Common Stock | $3.50T | 15.0 | +22.2% | −8.6% | 46 |
| META Meta Platforms, Inc. Class A Common Stoc | $1.56T | 21.9 | +27.5% | −1.4% | 29 |
| VCTR Victory Capital Holdings, Inc. Class A C | $7.4B | 23.2 | +36.9% | +97.8% | 29 |
| AVT Avnet, Inc. | $6.5B | 32.6 | +12.7% | +71.8% | 55 |
| AROC Archrock Inc | $4.8B | 14.9 | +3.7% | +8.9% | 41 |
| CRC California Resources Corporation | $4.1B | — | +17.6% | +1.1% | 27 |
| CALM Cal-Maine Foods Inc | $3.0B | 58.8 | −42.5% | −12.3% | 63 |
| WLY John Wiley & Sons, Inc. Class A | $2.5B | 13.5 | −0.3% | +71.3% | 53 |
| GTN Gray Media, Inc. | $507M | — | −14.5% | +16.7% | 1 |
| Peer median | $5.7B | 21.9 | +15.2% | +5.0% | 43 |
P/E uses the latest reported trailing-12-month diluted EPS; "—" means no positive earnings or no data.
Short Interest & Float
Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.
Metric definitions
- Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
- SI % of Float — short interest / free float. The key crowding metric.
- Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
- Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
- Free Float — shares available for public trading (total shares minus insider / restricted).
- Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
- SI % of Float < 5% — typical, no particular signal.
- 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
- 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
- >30% — extreme; borrow is likely expensive and squeeze risk is material.
- Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
- Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
- A sudden drop in SI after a rally may indicate a squeeze in progress.
Short interest is reported mid-month and end-of-month; short volume is daily.
Short Interest
4.27M
SI % of Float
4.94%
Days to Cover
4.43
Short Vol Ratio
25.1%
Free Float
86.47M
Float %
92.9%
Short interest 2026-10-15 • Short volume 2026-11-09 • Float 2026-11-02