Virtu Financial LLC Invests $324,000 in Gray Television, Inc. (NYSE:GTN)

Virtu Financial LLC acquired a new stake in shares of Gray Television, Inc. (NYSE:GTN) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 102,995 shares of the company’s stock, valued at approximately $324,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GTN. Capital Management Corp VA boosted its stake in shares of Gray Television by 6.6% during the 4th quarter. Capital Management Corp VA now owns 5,763,336 shares of the company’s stock worth $18,155,000 after purchasing an additional 355,067 shares during the last quarter. Barclays PLC lifted its stake in shares of Gray Television by 114.4% during the third quarter. Barclays PLC now owns 272,272 shares of the company’s stock valued at $1,460,000 after buying an additional 145,263 shares during the period. Kingsview Wealth Management LLC acquired a new stake in Gray Television during the fourth quarter worth approximately $340,000. Bank of New York Mellon Corp grew its stake in Gray Television by 10.1% in the 4th quarter. Bank of New York Mellon Corp now owns 970,615 shares of the company’s stock worth $3,057,000 after acquiring an additional 89,385 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in Gray Television in the 3rd quarter valued at $460,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

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 that occurred on Friday, February 28th. The shares were sold at an average price of $3.85, for a total transaction of $61,600.00. Following the transaction, the director now directly owns 55,347 shares of the company’s stock, valued at $213,085.95. The trade was a 22.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.80% of the company’s stock.

Gray Television Stock Performance

NYSE:GTN opened at $4.41 on Friday. Gray Television, Inc. has a fifty-two week low of $2.91 and a fifty-two week high of $7.41. The firm’s 50 day moving average is $4.01 and its two-hundred day moving average is $4.35. The company has a market cap of $447.30 million, a P/E ratio of 2.94 and a beta of 1.45. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.76.

Gray Television (NYSE:GTN) last issued its earnings results on Thursday, February 27th. The company reported $1.59 earnings per share for the quarter, hitting the consensus estimate of $1.59. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. Analysts expect that Gray Television, Inc. will post 3.32 EPS for the current year.

Gray Television Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 7.26%. The ex-dividend date is Friday, March 14th. Gray Television’s payout ratio is currently 9.61%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GTN shares. Guggenheim decreased their price objective on Gray Television from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Wells Fargo & Company raised Gray Television from an “underweight” rating to an “equal weight” rating and set a $4.00 price target on the stock in a research note on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.