Capital Management Corp VA lifted its holdings in Gray Television, Inc. (NYSE:GTN - Free Report) by 6.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,763,336 shares of the company's stock after buying an additional 355,067 shares during the quarter. Gray Television makes up about 3.3% of Capital Management Corp VA's holdings, making the stock its 9th biggest holding. Capital Management Corp VA owned 5.78% of Gray Television worth $18,155,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of GTN. Creative Planning bought a new position in Gray Television during the 3rd quarter valued at approximately $56,000. Wilmington Savings Fund Society FSB purchased a new position in Gray Television in the third quarter worth about $59,000. MML Investors Services LLC bought a new position in shares of Gray Television in the third quarter worth approximately $65,000. EP Wealth Advisors LLC purchased a new stake in shares of Gray Television during the third quarter valued at approximately $67,000. Finally, Choreo LLC increased its position in shares of Gray Television by 60.0% during the fourth quarter. Choreo LLC now owns 26,827 shares of the company's stock valued at $81,000 after acquiring an additional 10,058 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
GTN has been the subject of a number of research analyst reports. Barrington Research raised Gray Television to a "hold" rating in a report on Thursday, November 14th. Wells Fargo & Company raised shares of Gray Television from an "underweight" rating to an "equal weight" rating and set a $4.00 target price for the company in a report on Monday, March 3rd. Finally, Guggenheim decreased their price objective on shares of Gray Television from $8.00 to $7.00 and set a "buy" rating on the stock in a research report on Monday. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $6.33.
Read Our Latest Stock Analysis on GTN
Insider Activity
In related news, Director Richard Lee Boger sold 16,000 shares of the stock in a transaction dated 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 represents a 22.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.80% of the company's stock.
Gray Television Price Performance
Shares of GTN traded up $0.24 during mid-day trading on Wednesday, hitting $4.11. 1,780,455 shares of the stock were exchanged, compared to its average volume of 1,397,918. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $416.83 million, a PE ratio of 2.74 and a beta of 1.45. Gray Television, Inc. has a 52-week low of $2.91 and a 52-week high of $7.41. The firm has a 50-day moving average of $3.70 and a two-hundred day moving average of $4.37.
Gray Television (NYSE:GTN - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $1.59 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.59. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. On average, equities analysts predict that Gray Television, Inc. will post 3.32 earnings per share for the current year.
Gray Television Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 7.80%. Gray Television's dividend payout ratio (DPR) is presently 9.61%.
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.
Further Reading
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