Gray Television, Inc. (NYSE:GTN) Holdings Boosted by Capital Management Corp VA

Capital Management Corp VA raised its position in shares of Gray Television, Inc. (NYSE:GTN - Free Report) by 27.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,408,269 shares of the company's stock after purchasing an additional 1,170,990 shares during the quarter. Gray Television accounts for approximately 5.1% of Capital Management Corp VA's holdings, making the stock its biggest position. Capital Management Corp VA owned about 5.46% of Gray Television worth $28,988,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new position in shares of Gray Television in the first quarter worth about $25,000. nVerses Capital LLC purchased a new position in Gray Television during the second quarter valued at approximately $27,000. CWM LLC boosted its position in shares of Gray Television by 733.1% in the second quarter. CWM LLC now owns 7,448 shares of the company's stock worth $39,000 after purchasing an additional 6,554 shares during the period. Creative Planning purchased a new stake in shares of Gray Television in the third quarter worth $56,000. Finally, HBK Sorce Advisory LLC bought a new stake in shares of Gray Television during the 2nd quarter valued at $58,000. Hedge funds and other institutional investors own 78.64% of the company's stock.

Gray Television Trading Down 1.3 %

NYSE GTN traded down $0.08 during trading hours on Tuesday, hitting $5.71. 900,997 shares of the company were exchanged, compared to its average volume of 1,229,204. The stock has a market cap of $568.60 million, a PE ratio of 82.86, a price-to-earnings-growth ratio of 0.13 and a beta of 1.47. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 2.98. The stock has a 50-day moving average price of $5.27 and a 200 day moving average price of $5.47. Gray Television, Inc. has a 52 week low of $4.15 and a 52 week high of $10.07.

Gray Television (NYSE:GTN - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). Gray Television had a return on equity of 3.02% and a net margin of 1.84%. The firm had revenue of $826.00 million for the quarter, compared to analysts' expectations of $840.33 million. During the same period in the previous year, the firm earned ($0.10) earnings per share. The firm's quarterly revenue was up 1.6% compared to the same quarter last year. Analysts forecast that Gray Television, Inc. will post 4.37 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, September 30th. Shareholders of record on Friday, September 13th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 5.61%. The ex-dividend date of this dividend was Friday, September 13th. Gray Television's dividend payout ratio (DPR) is presently 457.14%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GTN. Benchmark dropped their price objective on Gray Television from $13.00 to $11.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Guggenheim reduced their price objective on shares of Gray Television from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company decreased their price target on shares of Gray Television from $6.00 to $4.00 and set an "underweight" rating on the stock in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Gray Television currently has a consensus rating of "Hold" and an average target price of $8.33.

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.