FIL Ltd Acquires New Holdings in Gray Television, Inc. (NYSE:GTN)

FIL Ltd acquired a new position in Gray Television, Inc. (NYSE:GTN - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 118,580 shares of the company's stock, valued at approximately $374,000. FIL Ltd owned approximately 0.12% of Gray Television at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Federated Hermes Inc. boosted its holdings in Gray Television by 214,100.0% during the fourth quarter. Federated Hermes Inc. now owns 12,852 shares of the company's stock valued at $40,000 after acquiring an additional 12,846 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Gray Television in the 4th quarter worth about $43,000. RPO LLC acquired a new stake in shares of Gray Television during the fourth quarter worth approximately $46,000. Pitcairn Co. bought a new position in Gray Television in the 4th quarter valued at $50,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Gray Television during the third quarter valued at approximately $59,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Gray Television Trading Up 0.1 %

Shares of GTN stock traded up $0.01 during trading hours on Friday, reaching $3.35. The company had a trading volume of 645,192 shares, compared to its average volume of 1,412,149. Gray Television, Inc. has a 1-year low of $2.91 and a 1-year high of $7.41. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $339.66 million, a price-to-earnings ratio of 2.23 and a beta of 1.08. The company has a 50 day moving average of $4.00 and a 200 day moving average of $4.21.

Gray Television (NYSE:GTN - Get Free Report) last released its 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 firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. On average, equities research analysts anticipate that Gray Television, Inc. will post 3.32 EPS for the current 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 issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 9.57%. The ex-dividend date of this dividend was Friday, March 14th. Gray Television's dividend payout ratio is currently 9.61%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GTN shares. Guggenheim dropped their target price on Gray Television from $8.00 to $7.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Wells Fargo & Company raised Gray Television from an "underweight" rating to an "equal weight" rating and set a $4.00 price objective for the company in a report on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $6.33.

Insider Buying and Selling at Gray Television

In other news, Director Richard Lee Boger sold 16,000 shares of the business's stock in a transaction 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 completion of the transaction, the director now owns 55,347 shares of the company's stock, valued at $213,085.95. The trade was a 22.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 15.22% of the company's stock.

Gray Television Company Profile

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.