Gray Television, Inc. (NYSE:GTN – Earnings Rating) major shareholder Harriet J. Robinson bought 68,750 shares of the company’s stock in a transaction that occurred on Monday, December 19th. The shares were purchased at an average price of $17.82 per share, for a total value of $1,225,125.00. Following the transaction, the insider now directly owns 1,042,217 shares in the company, valued at approximately $18,572,306.94. The transaction was disclosed in a statutory filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders who own at least 10% of a company’s stock must disclose their transactions with the SEC.
Gray TV shares fell 1.0%
Shares of GTN traded down $0.10 during trading hours on Wednesday, hitting $10.35. The company had a trading volume of 520,893 shares compared to its average volume of 775,609. The stock has a market cap of $963.52 million, a price-to-earnings ratio of 3.94, a P/E/G ratio of 0.29 and a beta of 1.60. The company has a fifty-day moving average price of $12.19 and a 200-day moving average price of $15.95. Gray Television, Inc. The 52-week low is $8.61 and the 52-week high is $24.81. The company has a debt-to-equity ratio of 3.41, a quick ratio of 2.09, and a current ratio of 2.09.
Gray Television (NYSE:GTN – Get Rating ) last issued its quarterly earnings data on Friday, November 4th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.41 by ($0.38). The company had revenue of $909.00 million for the quarter, compared to the consensus estimate of $950.70 million. Gray Television has a net margin of 8.96% and a return on equity of 16.26%. On average, Gray Television, Inc. equities research analysts predict that it will post 4.18 EPS for the current fiscal year.
Gray TV announces dividend
The company recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, December 14th. This represents an annual dividend of $0.32 and a dividend yield of 3.09%. Gray Television’s dividend payout ratio (DPR) is currently 12.17%.
Wall Street analysts weigh in
A number of equities research analysts recently weighed in on GTN shares. StockNews.com lowered Gray Television from a “hold” rating to a “sell” rating in a research note on Tuesday. TheStreet downgraded shares of Gray Television from a “b-” rating to a “c” rating in a research report on Thursday, December 8th. Wells Fargo & Company cut shares of Gray Television from an “overweight” rating to an “underweight” rating and decreased their price target for the company from $25.00 to $7.00 in a research report on Wednesday, November 9th. Stephens decreased their price objective on shares of Gray Television from $18.00 to $12.00 and set an “equal weight” rating on the stock in a report on Monday, November 7th. Finally, Guggenheim reduced their target price on shares of Gray Television to $19.00 in a report on Tuesday, November 15th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $17.20, according to data from MarketBeat.
Gray Television’s Enterprise Business
A number of institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors raised its stake in shares of Gray Television by 219.5% during the second quarter. Captrust Financial Advisors now owns 1,556 shares of the company’s stock valued at $26,000 after buying an additional 1,069 shares during the last quarter. First Horizon Advisors Inc. purchased a new position in Gray Television during the 2nd quarter valued at about $39,000. UMB Bank lifted its stake in Gray Television by 35.9% in the 2nd quarter. UMB Bank now owns 2,378 shares of the company’s stock valued at $40,000 after purchasing an additional 628 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Gray Television by 188.0% during the second quarter. Nisa Investment Advisors LLC now owns 3,370 shares of the company’s stock valued at $57,000 after purchasing an additional 2,200 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Gray Television during the first quarter valued at approximately $73,000. 80.61% of the shares are currently owned by hedge funds and other institutional investors.
About Gray TV
Gray Television, Inc. is a television broadcasting company that owns and/or operates television stations and digital properties in the United States. It also broadcasts secondary digital channels affiliated with ABC, CBS, NBC and FOX, as well as various networks and programming services including CW Plus Network, MY Network, MeTV Network, Justice, This TV Network, Antenna TV, Telemundo. Kosi, heroes and icons and movies! network; and local news/weather channels in various markets.
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