Gray Television, Inc. (NYSE:GTN) Shares Bought by Marshall Wace LLP

Marshall Wace LLP lifted its stake in shares of Gray Television, Inc. (NYSE:GTN - Free Report) by 52.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,161,862 shares of the company's stock after acquiring an additional 400,274 shares during the quarter. Marshall Wace LLP owned approximately 1.17% of Gray Television worth $3,660,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in Gray Television during the third quarter valued at approximately $59,000. MML Investors Services LLC purchased a new position in Gray Television during the third quarter valued at approximately $65,000. Federated Hermes Inc. increased its holdings in Gray Television by 214,100.0% during the fourth quarter. Federated Hermes Inc. now owns 12,852 shares of the company's stock valued at $40,000 after buying an additional 12,846 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Gray Television during the fourth quarter valued at approximately $43,000. Finally, RPO LLC purchased a new position in Gray Television during the fourth quarter valued at approximately $46,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

Gray Television Stock Performance

Shares of NYSE:GTN traded up $0.05 during trading on Tuesday, hitting $3.48. The stock had a trading volume of 941,602 shares, compared to its average volume of 1,416,296. Gray Television, Inc. has a 12-month low of $2.91 and a 12-month high of $7.41. The stock has a market capitalization of $353.37 million, a price-to-earnings ratio of 2.32 and a beta of 1.08. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.76. The stock has a 50-day simple moving average of $3.91 and a two-hundred day simple moving average of $4.09.

Gray Television (NYSE:GTN - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $1.59 EPS for the quarter, hitting the consensus estimate of $1.59. The firm had revenue of $1.05 billion for 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 research analysts expect that Gray Television, Inc. will post 3.32 earnings per share for the current fiscal year.

Gray Television Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 9.20%. The ex-dividend date was Friday, March 14th. Gray Television's payout ratio is currently 9.61%.

Insider Buying and Selling at Gray Television

In other Gray Television news, Director Richard Lee Boger sold 16,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was 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 approximately $213,085.95. This trade represents a 22.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.22% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GTN shares. Guggenheim cut their price objective on shares of Gray Television from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Wells Fargo & Company upgraded Gray Television from an "underweight" rating to an "equal weight" rating and set a $4.00 price objective for the company in a report on Monday, March 3rd. Three equities research 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. According to data from MarketBeat, Gray Television currently has an average rating of "Moderate Buy" and a consensus price target of $6.33.

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.