Versor Investments LP Grows Position in Gray Television, Inc. (NYSE:GTN)

Versor Investments LP increased its position in Gray Television, Inc. (NYSE:GTN) by 40.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,800 shares of the company’s stock after purchasing an additional 6,600 shares during the quarter. Versor Investments LP’s holdings in Gray Television were worth $122,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in Gray Television by 3.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 91,405 shares of the company’s stock valued at $578,000 after buying an additional 3,068 shares in the last quarter. Diversified Trust Co increased its position in Gray Television by 13.7% during the 2nd quarter. Diversified Trust Co now owns 25,633 shares of the company’s stock valued at $133,000 after buying an additional 3,097 shares in the last quarter. Rhumbline Advisers increased its position in Gray Television by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 139,642 shares of the company’s stock valued at $726,000 after buying an additional 3,544 shares in the last quarter. Dakota Wealth Management increased its position in Gray Television by 34.5% during the 2nd quarter. Dakota Wealth Management now owns 14,753 shares of the company’s stock valued at $77,000 after buying an additional 3,781 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Gray Television during the 1st quarter valued at approximately $25,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. StockNews.com raised Gray Television from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Benchmark reduced their target price on Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a report on Monday, November 11th. Guggenheim reduced their target price on Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Wells Fargo & Company reduced their target price on Gray Television from $6.00 to $4.00 and set an “underweight” rating for the company in a report on Friday, August 9th. Finally, Barrington Research raised Gray Television to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.67.

Gray Television Stock Performance

GTN stock opened at $4.69 on Monday. The company has a market cap of $467.44 million, a P/E ratio of 3.13, a price-to-earnings-growth ratio of 0.13 and a beta of 1.47. Gray Television, Inc. has a 1 year low of $3.95 and a 1 year high of $10.07. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.63. The stock’s fifty day moving average price is $5.27 and its 200-day moving average price is $5.41.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Friday, November 8th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.08). The firm had revenue of $950.00 million during the quarter, compared to analysts’ expectations of $967.49 million. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The business’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.57) earnings per share. On average, equities analysts forecast that Gray Television, Inc. will post 2.7 earnings per share for the current year.

Gray Television Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 6.82%. Gray Television’s dividend payout ratio (DPR) is presently 21.33%.

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.