Oxford Asset Management LLP Takes Position in Gray Television, Inc. (NYSE:GTN)

Oxford Asset Management LLP bought a new stake in shares of Gray Television, Inc. (NYSE:GTN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 91,921 shares of the company's stock, valued at approximately $290,000. Oxford Asset Management LLP owned approximately 0.09% of Gray Television at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in GTN. Barclays PLC grew its holdings in Gray Television by 114.4% during the 3rd quarter. Barclays PLC now owns 272,272 shares of the company's stock valued at $1,460,000 after purchasing an additional 145,263 shares during the last quarter. Geode Capital Management LLC grew its holdings in Gray Television by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,971,374 shares of the company's stock valued at $10,568,000 after purchasing an additional 57,481 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Gray Television during the 3rd quarter valued at about $59,000. Franklin Resources Inc. grew its holdings in Gray Television by 5.5% during the 3rd quarter. Franklin Resources Inc. now owns 696,853 shares of the company's stock valued at $3,951,000 after purchasing an additional 36,312 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC grew its holdings in Gray Television by 15.8% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 108,796 shares of the company's stock valued at $343,000 after purchasing an additional 14,871 shares during the last quarter. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Gray Television

In other Gray Television news, Director Richard Lee Boger sold 16,000 shares of Gray Television stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $3.85, for a total transaction of $61,600.00. Following the completion of the transaction, the director now owns 55,347 shares in the company, valued at approximately $213,085.95. This trade represents a 22.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 15.22% of the company's stock.

Gray Television Stock Performance

NYSE:GTN opened at $3.40 on Monday. Gray Television, Inc. has a 12 month low of $2.91 and a 12 month high of $7.41. The firm has a fifty day simple moving average of $3.92 and a 200-day simple moving average of $4.11. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.76. The company has a market capitalization of $345.25 million, a P/E ratio of 2.27 and a beta of 1.08.

Gray Television (NYSE:GTN - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $1.59 EPS for the quarter, hitting the consensus estimate of $1.59. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. On average, equities research analysts anticipate that Gray Television, Inc. will post 3.32 earnings per share for the current year.

Gray Television Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 9.41%. Gray Television's payout ratio is currently 9.61%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wells Fargo & Company upgraded shares of Gray Television from an "underweight" rating to an "equal weight" rating and set a $4.00 price target on the stock in a report on Monday, March 3rd. Guggenheim dropped their target price on shares of Gray Television from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.

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