Gray Television, Inc. (NYSE:GTN) Receives $6.67 Average Price Target from Analysts

Shares of Gray Television, Inc. (NYSE:GTN - Get Free Report) have been given an average rating of "Moderate Buy" by the five research firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $6.67.

GTN has been the topic of a number of recent analyst reports. Benchmark dropped their price objective on shares of Gray Television from $11.00 to $8.00 and set a "buy" rating on the stock in a research report on Monday, November 11th. Barrington Research upgraded Gray Television to a "hold" rating in a report on Thursday, November 14th. Wells Fargo & Company upgraded shares of Gray Television from an "underweight" rating to an "equal weight" rating and set a $4.00 price target on the stock in a report on Monday. StockNews.com raised shares of Gray Television from a "sell" rating to a "hold" rating in a report on Monday, November 11th. Finally, Guggenheim cut their target price on shares of Gray Television from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th.

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Insider Transactions at Gray Television

In other Gray Television news, Director Richard Lee Boger sold 16,000 shares of Gray Television stock in a transaction on Friday, February 28th. The shares were sold at an average price of $3.85, for a total transaction of $61,600.00. Following the completion of the sale, the director now 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 filing with the SEC, which is available at this hyperlink. 4.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Voleon Capital Management LP bought a new position in shares of Gray Television during the 4th quarter worth about $32,000. Ameriprise Financial Inc. acquired a new position in Gray Television during the 4th quarter worth about $33,000. Boothbay Fund Management LLC bought a new stake in shares of Gray Television during the fourth quarter worth $34,000. Federated Hermes Inc. lifted its stake in shares of Gray Television by 214,100.0% in the 4th quarter. Federated Hermes Inc. now owns 12,852 shares of the company's stock valued at $40,000 after purchasing an additional 12,846 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Gray Television in the 4th quarter worth $43,000. 78.64% of the stock is owned by institutional investors.

Gray Television Stock Up 3.9 %

Shares of Gray Television stock traded up $0.14 during trading on Monday, reaching $3.63. The company's stock had a trading volume of 1,111,859 shares, compared to its average volume of 1,366,447. 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 1-year low of $2.91 and a 1-year high of $7.41. The company has a market cap of $361.29 million, a price-to-earnings ratio of 2.42 and a beta of 1.41. The company has a 50-day simple moving average of $3.64 and a two-hundred day simple moving average of $4.41.

Gray Television (NYSE:GTN - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $1.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.59. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. As a group, equities analysts forecast that Gray Television 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. Stockholders 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 dividend yield of 8.83%. Gray Television's dividend payout ratio (DPR) is presently 9.61%.

About Gray Television

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.