Grupo Televisa, S.A.B. (NYSE:TV) Shares Gap Up - Here's Why

Grupo Televisa, S.A.B. (NYSE:TV - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $2.43, but opened at $2.51. Grupo Televisa, S.A.B. shares last traded at $2.39, with a volume of 70,998 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TV shares. StockNews.com cut Grupo Televisa, S.A.B. from a "buy" rating to a "hold" rating in a research note on Monday, September 30th. The Goldman Sachs Group cut their price objective on Grupo Televisa, S.A.B. from $3.30 to $2.90 and set a "buy" rating for the company in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Grupo Televisa, S.A.B. has an average rating of "Hold" and a consensus price target of $5.60.

Grupo Televisa, S.A.B. Trading Up 0.4 %

The stock has a 50 day simple moving average of $2.12 and a 200-day simple moving average of $2.64. The firm has a market capitalization of $1.35 billion, a P/E ratio of -2.78, a P/E/G ratio of 1.12 and a beta of 1.89. The company has a current ratio of 2.31, a quick ratio of 2.28 and a debt-to-equity ratio of 0.04.

Institutional Trading of Grupo Televisa, S.A.B.

A number of large investors have recently added to or reduced their stakes in TV. Central Pacific Bank Trust Division grew its position in Grupo Televisa, S.A.B. by 50.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 15,000 shares of the company's stock valued at $38,000 after acquiring an additional 5,000 shares during the last quarter. Ballentine Partners LLC boosted its position in Grupo Televisa, S.A.B. by 23.3% during the second quarter. Ballentine Partners LLC now owns 31,381 shares of the company's stock worth $87,000 after purchasing an additional 5,939 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Grupo Televisa, S.A.B. by 35.7% in the second quarter. SG Americas Securities LLC now owns 28,154 shares of the company's stock valued at $78,000 after acquiring an additional 7,406 shares in the last quarter. XTX Topco Ltd lifted its position in shares of Grupo Televisa, S.A.B. by 19.1% in the second quarter. XTX Topco Ltd now owns 60,454 shares of the company's stock valued at $167,000 after acquiring an additional 9,684 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Grupo Televisa, S.A.B. during the second quarter worth approximately $29,000. Institutional investors own 55.77% of the company's stock.

Grupo Televisa, S.A.B. Company Profile

Grupo Televisa, SAB., together with its subsidiaries, owns and operates cable companies and provides direct-to-home satellite pay television system in Mexico and the United States. It operates through three segments: Cable, Sky, and Other Businesses. The Cable segment operates cable multiple system that provides basic and premium television subscription, pay-per-view, installation, Internet subscription, and telephone and mobile services subscription, as well as local and national advertising services; and telecommunication facilities, which offers data and long-distance services solutions to carriers and other telecommunications service providers through its fiber-optic network.