Gray Television, Inc. (NYSE:GTN) Given Average Rating of "Moderate Buy" by Analysts

Shares of Gray Television, Inc. (NYSE:GTN - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the five brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $6.67.

Several research firms recently issued reports on GTN. StockNews.com raised Gray Television from a "sell" rating to a "hold" rating in a research report on Monday, November 11th. Guggenheim reduced their price target on shares of Gray Television from $10.00 to $8.00 and set a "buy" rating on the stock in a research report on Tuesday, November 12th. Barrington Research raised shares of Gray Television to a "hold" rating in a research report on Thursday, November 14th. Finally, Benchmark cut their target price on shares of Gray Television from $11.00 to $8.00 and set a "buy" rating on the stock in a report on Monday, November 11th.

Insider Buying and Selling at Gray Television

In other Gray Television news, EVP Kevin Paul Latek sold 150,216 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $4.37, for a total transaction of $656,443.92. Following the transaction, the executive vice president now owns 509,212 shares of the company's stock, valued at approximately $2,225,256.44. This trade represents a 22.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Gray Television by 1.1% during the 3rd 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 purchasing an additional 2,654 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Gray Television by 27.4% in the third quarter. Quadrature Capital Ltd now owns 19,006 shares of the company's stock valued at $102,000 after buying an additional 4,083 shares during the period. Hsbc Holdings PLC boosted its stake in Gray Television by 17.0% during the second quarter. Hsbc Holdings PLC now owns 35,649 shares of the company's stock valued at $187,000 after buying an additional 5,177 shares in the last quarter. HighTower Advisors LLC grew its holdings in Gray Television by 10.2% during 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, Versor Investments LP raised its position in Gray Television by 40.7% in the third quarter. Versor Investments LP now owns 22,800 shares of the company's stock worth $122,000 after acquiring an additional 6,600 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors.

Gray Television Stock Down 4.4 %

Shares of GTN traded down $0.16 during midday trading on Tuesday, hitting $3.59. The company had a trading volume of 1,043,470 shares, compared to its average volume of 1,108,459. The stock has a market cap of $357.42 million, a price-to-earnings ratio of 2.39 and a beta of 1.39. The company's 50 day moving average price is $3.66 and its 200 day moving average price is $4.69. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.76. Gray Television has a 52 week low of $2.91 and a 52 week high of $9.95.

Gray Television (NYSE:GTN - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.08). Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The firm had revenue of $950.00 million during the quarter, compared to the consensus estimate of $967.49 million. During the same period in the prior year, the firm earned ($0.57) earnings per share. The firm's quarterly revenue was up 18.3% compared to the same quarter last year. On average, equities research analysts predict that Gray Television will post 3.06 EPS for the current year.

Gray Television Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 8.92%. The ex-dividend date was Friday, December 13th. Gray Television's dividend payout ratio is currently 21.33%.

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.