Professional
Added to YB: 2024-07-26
Pitch date: 2024-07-02
GTN [bullish]
Gray Media, Inc.
+15.25%
current return
Author Info
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Company Info
Gray Media, Inc., a multimedia company, owns and/or operates television stations and digital assets in the United States.
Market Cap
$506.1M
Pitch Price
$4.62
Price Target
N/A
Dividend
6.63%
EV/EBITDA
6.21
P/E
3.15
EV/Sales
1.87
Sector
Media
Category
growth
Miller Value Partners Deep Value Strategy Portfolio Holding: Gray Television, Inc.
GTN: Local TV leader (89% #1/#2 in markets) expects $500-700M political ad revenue in 2024. Q2 pressure from debt concerns, but limited near-term maturities. Core biz outpacing peers, digital focus to boost margins. ATSC 3.0 offers new revenue streams. $2.5B FCF potential over 5yrs for deleveraging. 80%+ earnings/FCF yield, 6.2% div yield. Risks: slow political ad ramp, debt leverage.
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