134,767 Shares in Gray Television, Inc. (NYSE:GTN) Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Gray Television, Inc. (NYSE:GTN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 134,767 shares of the company’s stock, valued at approximately $425,000. Dynamic Technology Lab Private Ltd owned about 0.14% of Gray Television as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital Management Corp VA boosted its stake in Gray Television by 6.6% in 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 period. State Street Corp grew its stake in Gray Television by 1.9% during the third quarter. State Street Corp now owns 2,009,896 shares of the company’s stock valued at $10,773,000 after acquiring an additional 36,541 shares in the last quarter. Geode Capital Management LLC increased 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 worth $10,568,000 after acquiring an additional 57,481 shares during the period. Bank of New York Mellon Corp lifted 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 purchasing an additional 89,385 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Gray Television by 5.5% in 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 period. Institutional investors own 78.64% of the company’s stock.

Gray Television Price Performance

GTN stock opened at $3.36 on Wednesday. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market capitalization of $341.59 million, a price-to-earnings ratio of 2.24 and a beta of 1.08. The firm has a 50 day moving average price of $4.08 and a 200-day moving average price of $4.29. Gray Television, Inc. has a 52-week low of $2.91 and a 52-week high of $7.41.

Gray Television (NYSE:GTN) last announced its quarterly earnings data on Thursday, February 27th. The company reported $1.59 EPS for the quarter, meeting the consensus estimate of $1.59. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. Equities research analysts forecast that Gray Television, Inc. will post 3.32 EPS for the current fiscal year.

Gray Television Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 9.51%. The ex-dividend date of this dividend was Friday, March 14th. Gray Television’s payout ratio is currently 9.61%.

Insider Buying and Selling at Gray Television

In other 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on GTN. Wells Fargo & Company upgraded shares of Gray Television from an “underweight” rating to an “equal weight” rating and set a $4.00 price objective on the stock in a research report on Monday, March 3rd. Guggenheim reduced their target price on 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 issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Gray Television presently has an average rating of “Moderate Buy” and an average target price of $6.33.

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.