Sanctuary Advisors LLC Sells 91,743 Shares of Gray Television, Inc. (NYSE:GTN)

Sanctuary Advisors LLC decreased its holdings in shares of Gray Television, Inc. (NYSE:GTN - Free Report) by 50.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 88,934 shares of the company's stock after selling 91,743 shares during the period. Sanctuary Advisors LLC owned approximately 0.09% of Gray Television worth $280,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GTN. Capital Management Corp VA lifted its stake in Gray Television by 27.6% during the third quarter. Capital Management Corp VA now owns 5,408,269 shares of the company's stock worth $28,988,000 after purchasing an additional 1,170,990 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Gray Television by 287.9% in the 3rd quarter. GSA Capital Partners LLP now owns 232,832 shares of the company's stock worth $1,248,000 after acquiring an additional 172,801 shares during the last quarter. Barclays PLC lifted its holdings in shares of Gray Television by 114.4% in the 3rd quarter. Barclays PLC now owns 272,272 shares of the company's stock worth $1,460,000 after acquiring an additional 145,263 shares during the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of Gray Television in the 4th quarter worth approximately $340,000. Finally, Point72 Asset Management L.P. bought a new stake in Gray Television in the third quarter worth $460,000. Institutional investors own 78.64% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on GTN. Wells Fargo & Company raised shares of Gray Television from an "underweight" rating to an "equal weight" rating and set a $4.00 price target for the company in a research note on Monday, March 3rd. Guggenheim lowered their price objective on Gray Television from $10.00 to $8.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. Benchmark lowered their price target on shares of Gray Television from $11.00 to $8.00 and set a "buy" rating for the company in a report on Monday, November 11th. Barrington Research raised shares of Gray Television to a "hold" rating in a research note on Thursday, November 14th. Finally, StockNews.com raised Gray Television from a "sell" rating to a "hold" rating in a research report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.67.

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Gray Television Trading Up 3.5 %

GTN stock traded up $0.13 during trading on Friday, reaching $3.75. The company had a trading volume of 1,878,596 shares, compared to its average volume of 1,378,402. Gray Television, Inc. has a 52 week low of $2.91 and a 52 week high of $7.41. The company has a market cap of $373.25 million, a P/E ratio of 2.50 and a beta of 1.41. The business has a 50 day moving average of $3.65 and a 200 day moving average of $4.40. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.13.

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, hitting the consensus estimate of $1.59. The firm had revenue of $1.05 billion during 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%. As a group, sell-side analysts forecast that Gray Television, Inc. will post 3.32 earnings per share for the current fiscal year.

Gray Television Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 8.54%. Gray Television's payout ratio is 9.61%.

Insider Transactions at Gray Television

In other news, Director Richard Lee Boger sold 16,000 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $3.85, for a total transaction of $61,600.00. Following the completion of the transaction, the director now directly owns 55,347 shares in the company, valued at $213,085.95. This trade represents a 22.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.80% of the company's stock.

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.