QuarterHawk — Equity ResearchQuarterHawk — Equity Research

Gray Media, Inc. (GTN)

Communication Services

No action
Fundamental
3
Sentiment
2
Technical
2

Do Nothing: qualitativeScore 2 is below the required floor of 3 (upstream qualitative screen found no actionable setup; SHADOW branch inactive) and the 20-day average dollar volume (~$4.46M) is below the $5M liquidity floor. No pullback limit qualifies - price sits under a flat-to-declining SMA200 with the SMA50 below it and MACD still negative (a countertrend catch, not a support pullback) - and no breakout stop qualifies: nearest settled swing high 5.01 (09-14) is ~8.4% above with ADX 18.4 and a fading rebound.

Analysis as of 2026-09-21· more than 2 trading days ago

Company overview

Gray Media, Inc. operates a large portfolio of television stations and digital networks across the United States, reaching 113 markets. The company is affiliated with major networks like ABC, CBS, NBC, and FOX, and offers a variety of specialized digital channels. Based in Atlanta, Georgia, it was founded in 1891 and rebranded as Gray Television, Inc. in 2002.

Fundamental

fair
Fundamental3
Mixed fundamentals

Gray Media shows cheap equity valuation but high leverage risk and cyclical revenue exposure.

Mixed fundamentals: GTN offers very cheap equity valuation signals (high free-cash-flow yield and low price-to-book) and SEC filings show covenant compliance plus sizable revolver availability, but the business is cyclical (political-ad-driven swings) and leverage is high, with a distress-zone Altman Z-Score. Better suited for a watchlist/contrarian value thesis than a low-risk core holding.

Sentiment

weak
Sentiment2
Flat sentiment

Sentiment is weakly positive but stable, with no significant retail or media activity.

No short-term-actionable catalyst is present — September PR flow was limited to non-material sports-broadcast partnerships, programming launches, and station-level promotions, with no earnings, M&A, or capital-structure event in the window. The sentiment delta is determinate and flat (baseline +0.096 → scoring +0.10, weakly positive throughout), the Red-Flag Screen is clean, and retail is silent, leaving an absent setup with nothing to price over the next 1–30 trading days.

Technical

weak
Technical2
Bounce-only rebound

The stock is in a short-term downtrend with a weak technical setup and low trading volume.

Chart is a bounce-only rebound inside a short-term downtrend: price holds above the SMA50 but below the SMA20, EMA9, EMA21, SMA200 and daily VWAP, with MACD negative (-0.01/-0.06), ADX weak (18.4) and RSI merely neutral (46.2). The 09-18 low at 4.44 has no momentum confirmation yet. This is a 2/5 chart, and independent of chart quality the trade is blocked by the qualitative floor (2 < 3) and the sub-$5M 20-day dollar-volume average.

You’re looking at 2026-09-21 — more than 2 trading days ago.

Subscribers saw this then, and see today’s score, verdict and trade plan now.

Not financial advice. For informational and educational purposes only.