Gray Television (NYSE:GTN) Raised to "Equal Weight" at Wells Fargo & Company

Gray Television (NYSE:GTN - Get Free Report) was upgraded by stock analysts at Wells Fargo & Company from an "underweight" rating to an "equal weight" rating in a research note issued to investors on Monday, MarketBeat.com reports. The firm presently has a $4.00 target price on the stock. Wells Fargo & Company's price target points to a potential upside of 10.34% from the stock's current price.

GTN has been the topic of several other reports. StockNews.com raised shares of Gray Television from a "sell" rating to a "hold" rating in a research note on Monday, November 11th. Barrington Research raised Gray Television to a "hold" rating in a report on Thursday, November 14th. Guggenheim reduced their price objective on Gray Television from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Finally, Benchmark reduced their price target on Gray Television from $11.00 to $8.00 and set a "buy" rating on the stock in a report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.67.

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Gray Television Trading Up 3.9 %

Gray Television stock traded up $0.14 during trading hours on Monday, hitting $3.63. The stock had a trading volume of 1,111,859 shares, compared to its average volume of 1,366,447. The stock has a market cap of $361.29 million, a price-to-earnings ratio of 2.42 and a beta of 1.41. Gray Television has a one year low of $2.91 and a one year high of $7.41. The business's 50 day simple moving average is $3.64 and its 200-day simple moving average is $4.41. 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 (NYSE:GTN - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $1.59 EPS for the quarter, meeting analysts' consensus estimates of $1.59. The business 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%. On average, equities analysts predict that Gray Television will post 3.32 EPS for the current fiscal year.

Insider Transactions at Gray Television

In related news, Director Richard Lee Boger sold 16,000 shares of the business's stock in a transaction 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 sale, the director now directly owns 55,347 shares of the company's stock, valued at $213,085.95. The trade was 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 at this hyperlink. Insiders own 4.80% of the company's stock.

Institutional Investors Weigh In On Gray Television

Hedge funds and other institutional investors have recently bought and sold shares of the business. GSA Capital Partners LLP increased its position in Gray Television by 287.9% during the third quarter. GSA Capital Partners LLP now owns 232,832 shares of the company's stock worth $1,248,000 after purchasing an additional 172,801 shares during the last quarter. State Street Corp lifted its holdings in shares of Gray Television by 1.9% in the third quarter. State Street Corp now owns 2,009,896 shares of the company's stock valued at $10,773,000 after buying an additional 36,541 shares during the period. Barclays PLC lifted its stake in Gray Television by 114.4% during the third quarter. Barclays PLC now owns 272,272 shares of the company's stock valued at $1,460,000 after buying an additional 145,263 shares in the last quarter. Capital Management Corp VA increased its stake in shares of Gray Television by 27.6% in the third quarter. Capital Management Corp VA now owns 5,408,269 shares of the company's stock worth $28,988,000 after acquiring an additional 1,170,990 shares during the last quarter. Finally, Kingsview Wealth Management LLC acquired a new position in shares of Gray Television during the 4th quarter valued at about $340,000. Institutional investors and hedge funds own 78.64% of the company's stock.

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.