What is the 13F Pro Quality Score for GTN?

13F Pro ranks GRAY MEDIA, INC (GTN) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View GTN's current score at https://13fpro.ai/research/GTN (free sign-up required for the full ranking).

Which hedge funds own the most GTN stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of GTN include BlackRock,, CAPITAL MANAGEMENT /VA, MILLER VALUE PARTNERS,. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/GTN as soon as new 13F filings post.

Where does 13F Pro source GTN data?

All GRAY MEDIA, INC fundamentals and ownership data come directly from SEC EDGAR. GRAY MEDIA, INC files with the SEC under CIK 43196. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is GTN in?

GRAY MEDIA, INC (GTN) is classified in the Communication Services sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/communication-services.

How often is GTN research updated on 13F Pro?

GTN's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

GRAY MEDIA, INC(GTN)Stock Analysis

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Communication Services →NYSE

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13F Pro Quality Score

37.9/100

Rank #2,033 of 2,879 stocks

View Communication Services peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

24.3/100

Profitability

24.3/100

Balance Sheet

32.3/100

Earnings Quality

30.0/100

Free Cash Flow

44.5/100

Institutional Flow

26.4/100

Revenue Scale

70.1/100

Dilution Risk

66.7/100

GTN Stock Analysis & AI Quality Score

AI stock analysis and institutional research for GRAY MEDIA, INC (GTN), a Communication Services sector company. 13F Pro's AI-powered ranking engine scores GTN at 37.9/100 on a 32-signal composite quality model, placing it at rank #2,033 of 2,879 stocks — the bottom half of the AI-ranked universe. Areas of concern include revenue growth (24.3) and profitability (24.3), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q1 2026), GRAY MEDIA, INC reports quarterly revenue of $768.0M, net income of $-20.0M, an operating margin of 10.5%. Top institutional holders of GTN by reported 13-F value include BlackRock,, CAPITAL MANAGEMENT /VA, MILLER VALUE PARTNERS,, based on the most recent SEC filings. GTN trades on the NYSE exchange and files with the SEC under CIK 43196. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate GTN daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for GRAY MEDIA, INC directly from SEC EDGAR. GRAY MEDIA, INC's 13F Pro composite quality score has ranged between 38 and 60 since 2024, currently 37.9 — a declining long-term trajectory across 15 quarterly and live scoring snapshots.

Revenue

Q1 2026

$768.0M

Net Income

Q1 2026

$-20.0M

Free Cash Flow

Q1 2026

$-18.0M

Operating Margin

Q1 2026

10.5%

ROIC

Q1 2026

1.0%

D/E Ratio

Q1 2026

2.72

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

-15.1% YoY

$3.10BFY 2025

FY22 $3.68BFY23 $3.28BFY24 $3.64BFY25 $3.10B

Net Income

-122.7% YoY

$-85.0MFY 2025

FY22 $455.0MFY23 $-76.0MFY24 $375.0MFY25 $-85.0M

Operating Income

-53.9% YoY

$392.0MFY 2025

FY22 $990.0MFY23 $383.0MFY24 $851.0MFY25 $392.0M

EPS (Diluted)

-142.0% YoY

$-1.41FY 2025

FY22 $4.33FY23 $-1.39FY24 $3.36FY25 $-1.41

Total Assets

-1.0% YoY

$10.44BFY 2025

FY22 $11.15BFY23 $10.64BFY24 $10.54BFY25 $10.44B

Total Debt

+2.2% YoY

$5.74BFY 2025

FY22 $6.51BFY23 $6.21BFY24 $5.62BFY25 $5.74B

Op. Cash Flow

-61.5% YoY

$289.0MFY 2025

FY22 $829.0MFY23 $648.0MFY24 $751.0MFY25 $289.0M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$3.10B -15.1%	$3.64B +11.1%	$3.28B -10.7%	$3.68B +52.3%	$2.41B +1.3%	$2.38B
Net Income	$-85.0M -122.7%	$375.0M +593.4%	$-76.0M -116.7%	$455.0M +405.6%	$90.0M -78.0%	$410.0M
Operating Income	$392.0M -53.9%	$851.0M +122.2%	$383.0M -61.3%	$990.0M +159.8%	$381.0M -49.3%	$752.0M
EPS (Diluted)	$-1.41 -142.0%	$3.36 +341.7%	$-1.39 -132.1%	$4.33 +982.5%	$0.40 -89.2%	$3.69
Total Assets	$10.44B -1.0%	$10.54B -0.9%	$10.64B -4.6%	$11.15B +0.4%	$11.11B +45.3%	$7.64B
Total Debt	$5.74B +2.2%	$5.62B -9.6%	$6.21B -4.6%	$6.51B -4.4%	$6.82B +70.4%	$4.00B
Operating Cash Flow	$289.0M -61.5%	$751.0M +15.9%	$648.0M -21.8%	$829.0M +176.3%	$300.0M -54.0%	$652.0M

AI Insight: GTN Financial Trends

Gray Media's revenue has contracted year-over-year for four consecutive quarters while net losses persist and operating cash flow collapsed to just $1M in Q1 2026.

• Revenue fell from $826M in Q2 2024 to $768M in Q1 2026, with year-over-year declines in every quarter since Q1 2025.

• Net income turned negative in Q1 2025 and has remained in loss territory through Q1 2026, versus $22M–$169M profits in prior quarters.

• Operating cash flow plunged from $368M in Q4 2024 to just $1M in Q1 2026, the weakest reading in the visible period.

• Total debt ticked up to $5,746M in Q4 2025–Q1 2026 after declining from $6,138M to $5,610M, stalling the deleveraging trend.

⚠ Debt rose to $5,746M in Q1 2026 — first sequential increase after five quarters of decline — while equity eroded to $2,113M.

⚠ Operating income dropped to $81M in Q1 2026 from $92M a year earlier; any further compression pressures debt-service capacity.

⚠ Operating CF of $1M in Q1 2026 vs. $132M in Q1 2025 raises near-term liquidity questions given the $5.7B debt load.

AI Insight: GTN Ratio Trends

Gray Media's profitability has collapsed year-over-year, with Q1 2026 operating margin at 10.5% versus 11.8% in Q1 2025, and net income firmly negative for four consecutive quarters.

• Operating margin fell from a peak of 31.1% in Q4 2024 to 10.5% in Q1 2026, erasing the political-cycle uplift entirely.

• Net profit margin has been negative in every quarter from Q1 2025 through Q1 2026, reaching -7.2% at its worst in Q2 2025.

• ROIC dropped from 16.4% in Q4 2024 to 4.1% in Q1 2026, the lowest level in the observed period.

• D/E ratio ticked back up to 2.72 in Q1 2026 after a trough of 2.46 in Q4 2024, signaling modest re-leveraging.

⚠ D/E has risen three consecutive quarters to 2.72 — with negative net income, debt reduction capacity is severely constrained.

⚠ Whether non-election-year trough margins stabilize above 10% in Q2–Q3 2026 will signal underlying cost structure health.

⚠ Q4 2025 operating margin of 14.6% showed modest sequential improvement but failed to approach Q4 2024's 31.1% political-ad peak.

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Available Research

13F Pro tracks comprehensive data for GRAY MEDIA, INC including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of GTN

BlackRock, Inc.
$29.9M6,899,139 sh
CAPITAL MANAGEMENT CORP /VA
$26.9M6,197,518 sh
MILLER VALUE PARTNERS, LLC
$23.3M5,370,100 sh
DIMENSIONAL FUND ADVISORS LP
$22.9M5,277,893 sh
CHARLES SCHWAB INVESTMENT MANAGEMENT INC
$18.6M4,295,148 sh
Retirement Systems of Alabama
$17.9M4,126,750 sh
VANGUARD CAPITAL MANAGEMENT LLC
$16.1M3,702,234 sh
Penn Capital Management Company, LLC
$15.7M3,616,210 sh
GOLDMAN SACHS GROUP INC
$12.2M2,820,906 sh
NEW YORK STATE COMMON RETIREMENT FUND
$9.2M2,115,710 sh

Fund	Value	Shares
BlackRock, Inc.	$29.9M	6,899,139
CAPITAL MANAGEMENT CORP /VA	$26.9M	6,197,518
MILLER VALUE PARTNERS, LLC	$23.3M	5,370,100
DIMENSIONAL FUND ADVISORS LP	$22.9M	5,277,893
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	$18.6M	4,295,148
Retirement Systems of Alabama	$17.9M	4,126,750
VANGUARD CAPITAL MANAGEMENT LLC	$16.1M	3,702,234
Penn Capital Management Company, LLC	$15.7M	3,616,210
GOLDMAN SACHS GROUP INC	$12.2M	2,820,906
NEW YORK STATE COMMON RETIREMENT FUND	$9.2M	2,115,710

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Is GTN a good stock to buy?

13F Pro's AI-powered analysis of GRAY MEDIA, INC (GTN) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Communication Services sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for GTN are available on the GTN stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own GTN?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling GTN. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of GRAY MEDIA, INC's investment landscape.