GSA Capital Partners LLP Purchases 172,801 Shares of Gray Television, Inc. (NYSE:GTN)

GSA Capital Partners LLP increased its position in shares of Gray Television, Inc. (NYSE:GTN - Free Report) by 287.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 232,832 shares of the company's stock after acquiring an additional 172,801 shares during the period. GSA Capital Partners LLP owned about 0.23% of Gray Television worth $1,248,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Management Corp VA raised its stake in Gray Television by 27.6% during the 3rd quarter. Capital Management Corp VA now owns 5,408,269 shares of the company's stock worth $28,988,000 after buying an additional 1,170,990 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Gray Television by 232.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 813,000 shares of the company's stock worth $5,138,000 after buying an additional 568,400 shares during the period. Vanguard Group Inc. raised its stake in Gray Television by 9.8% during the 1st quarter. Vanguard Group Inc. now owns 5,662,398 shares of the company's stock worth $35,786,000 after buying an additional 506,106 shares during the period. Sanctuary Advisors LLC acquired a new position in Gray Television during the 2nd quarter worth approximately $881,000. Finally, Squarepoint Ops LLC raised its stake in Gray Television by 454.2% during the 2nd quarter. Squarepoint Ops LLC now owns 142,541 shares of the company's stock worth $741,000 after buying an additional 116,821 shares during the period. Institutional investors own 78.64% of the company's stock.

Gray Television Trading Down 2.1 %

Shares of NYSE GTN traded down $0.10 during trading hours on Friday, hitting $4.69. The company's stock had a trading volume of 1,173,104 shares, compared to its average volume of 1,276,759. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.63 and a current ratio of 1.13. The stock has a market cap of $467.45 million, a price-to-earnings ratio of 3.13, a P/E/G ratio of 0.12 and a beta of 1.47. Gray Television, Inc. has a 12 month low of $3.95 and a 12 month high of $10.07. The business has a 50-day simple moving average of $5.27 and a 200-day simple moving average of $5.42.

Gray Television (NYSE:GTN - Get Free Report) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.08). Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The company had revenue of $950.00 million during the quarter, compared to analysts' expectations of $967.49 million. During the same quarter last year, the business earned ($0.57) earnings per share. The business's quarterly revenue was up 18.3% on a year-over-year basis. On average, analysts anticipate that Gray Television, Inc. will post 3.54 earnings per share for the current fiscal year.

Gray Television Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a yield of 6.82%. Gray Television's payout ratio is currently 21.33%.

Analysts Set New Price Targets

A number of analysts have commented on GTN shares. Benchmark decreased their price objective on Gray Television from $11.00 to $8.00 and set a "buy" rating for the company in a report on Monday. StockNews.com raised Gray Television from a "sell" rating to a "hold" rating in a report on Monday. Guggenheim decreased their price objective on Gray Television from $10.00 to $8.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Wells Fargo & Company reduced their target price on Gray Television from $6.00 to $4.00 and set an "underweight" rating for the company in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Gray Television currently has an average rating of "Moderate Buy" and an average price target of $6.67.

Gray Television 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.