Analysts Set Gray Television, Inc. (NYSE:GTN) PT at $6.33

Gray Television, Inc. (NYSE:GTN - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the five research firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $6.33.

Several research firms have recently commented on GTN. Guggenheim reduced their price target on shares of Gray Television from $8.00 to $7.00 and set a "buy" rating for the company in a 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 target price on the stock in a research report on Monday, March 3rd.

Insider Activity

In related news, Director Richard Lee Boger sold 16,000 shares of the 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 completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Gray Television by 122.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 110,170 shares of the company's stock valued at $347,000 after buying an additional 60,618 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in Gray Television during the 4th quarter worth about $140,000. Public Employees Retirement System of Ohio grew its stake in Gray Television by 30.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 14,146 shares of the company's stock valued at $45,000 after purchasing an additional 3,262 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Gray Television by 49.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 357,198 shares of the company's stock valued at $1,125,000 after purchasing an additional 117,827 shares during the last quarter. Finally, Two Sigma Advisers LP acquired a new position in shares of Gray Television in the fourth quarter valued at about $134,000. Institutional investors and hedge funds own 78.64% of the company's stock.

Gray Television Trading Up 0.1 %

Shares of Gray Television stock traded up $0.01 on Friday, hitting $4.33. 1,581,721 shares of the company traded hands, compared to its average volume of 1,391,240. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.76. The company has a market cap of $439.17 million, a PE ratio of 2.88 and a beta of 1.45. The stock's 50 day moving average price is $4.07 and its 200-day moving average price is $4.34. Gray Television has a 52 week low of $2.91 and a 52 week high of $7.41.

Gray Television (NYSE:GTN - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $1.59 earnings per share for the quarter, hitting the consensus estimate of $1.59. The business 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%. Equities research analysts predict that Gray Television will post 3.32 EPS for the current year.

Gray Television Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 7.40%. The ex-dividend date of this dividend was Friday, March 14th. Gray Television's dividend payout ratio is currently 9.61%.

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.