Dynamic Technology Lab Private Ltd bought a new stake in Gray Television, Inc. (NYSE:GTN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 134,767 shares of the company's stock, valued at approximately $425,000. Dynamic Technology Lab Private Ltd owned approximately 0.14% of Gray Television as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of GTN. BNP Paribas Financial Markets grew its stake in Gray Television by 109.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 127,497 shares of the company's stock valued at $683,000 after purchasing an additional 66,578 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Gray Television by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,371 shares of the company's stock valued at $1,283,000 after buying an additional 2,654 shares during the period. Verition Fund Management LLC increased its holdings in Gray Television by 64.0% during the third quarter. Verition Fund Management LLC now owns 17,480 shares of the company's stock worth $94,000 after buying an additional 6,824 shares during the last quarter. HighTower Advisors LLC raised its position in Gray Television by 10.2% in the third quarter. HighTower Advisors LLC now owns 70,031 shares of the company's stock worth $374,000 after acquiring an additional 6,480 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in Gray Television in the third quarter valued at about $460,000. 78.64% of the stock is owned by hedge funds and other institutional investors.
Gray Television Stock Performance
Gray Television stock traded up $0.08 during mid-day trading on Monday, reaching $3.43. The company's stock had a trading volume of 178,935 shares, compared to its average volume of 1,410,787. The firm's fifty day moving average price is $4.06 and its two-hundred day moving average price is $4.25. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.13 and a current ratio of 1.13. Gray Television, Inc. has a 12-month low of $2.91 and a 12-month high of $7.41. The company has a market capitalization of $348.29 million, a P/E ratio of 2.29 and a beta of 1.08.
Gray Television (NYSE:GTN - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $1.59 earnings per share for the quarter, meeting the consensus estimate of $1.59. The company had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.04 billion. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. Sell-side analysts predict that Gray Television, Inc. will post 3.32 EPS for the current fiscal year.
Gray Television Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, March 14th. This represents a $0.32 annualized dividend and a yield of 9.33%. Gray Television's dividend payout ratio is currently 9.61%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. Guggenheim decreased their price target on shares of Gray Television from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Monday, March 10th. Wells Fargo & Company upgraded Gray Television from an "underweight" rating to an "equal weight" rating and set a $4.00 target price on the stock in a research note on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $6.33.
Get Our Latest Stock Analysis on Gray Television
Insider Buying and Selling
In related news, Director Richard Lee Boger sold 16,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $3.85, for a total value of $61,600.00. Following the sale, the director now directly owns 55,347 shares of the company's stock, valued at $213,085.95. This trade represents a 22.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.80% of the stock is currently owned by insiders.
Gray Television Company Profile
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Free Report)
Gray Television, Inc, a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It also broadcasts secondary digital channels affiliated to ABC, CBS, NBC, and FOX, as well as various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Circle, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.
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