Ingalls & Snyder LLC lessened its position in shares of Gray Television, Inc. (NYSE:GTN) by 6.0% in the 4th quarter, HoldingsChannel reports. The fund owned 83,012 shares of the company’s stock after selling 5,254 shares during the period. Ingalls & Snyder LLC’s holdings in Gray Television were worth $1,780,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GTN. Point72 Hong Kong Ltd increased its stake in Gray Television by 134.9% during the 2nd quarter. Point72 Hong Kong Ltd now owns 5,945 shares of the company’s stock valued at $97,000 after purchasing an additional 3,414 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Gray Television by 30,072.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 7,543 shares of the company’s stock valued at $123,000 after purchasing an additional 7,518 shares in the last quarter. Bank of Montreal Can increased its stake in Gray Television by 3,422.7% during the 2nd quarter. Bank of Montreal Can now owns 7,926 shares of the company’s stock valued at $130,000 after purchasing an additional 7,701 shares in the last quarter. Creative Planning acquired a new position in Gray Television during the 3rd quarter valued at approximately $215,000. Finally, Wiley BROS. Aintree Capital LLC acquired a new position in Gray Television during the 3rd quarter valued at approximately $253,000. Hedge funds and other institutional investors own 86.86% of the company’s stock.
Several analysts have recently commented on GTN shares. Barrington Research upped their price objective on shares of Gray Television from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Monday. Wells Fargo & Co started coverage on shares of Gray Television in a report on Monday, September 23rd. They issued an “outperform” rating and a $21.00 price objective on the stock. ValuEngine raised shares of Gray Television from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Finally, Zacks Investment Research downgraded shares of Gray Television from a “strong-buy” rating to a “hold” rating in a report on Saturday, January 4th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Gray Television has a consensus rating of “Buy” and a consensus price target of $24.60.
GTN stock opened at $22.44 on Thursday. The firm’s fifty day simple moving average is $20.97 and its 200-day simple moving average is $17.78. The company has a market capitalization of $2.18 billion, a P/E ratio of 9.23, a price-to-earnings-growth ratio of 0.72 and a beta of 2.10. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.70 and a quick ratio of 2.70. Gray Television, Inc. has a 12 month low of $13.60 and a 12 month high of $25.31.
Gray Television (NYSE:GTN) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.25 by $0.21. The business had revenue of $517.00 million for the quarter, compared to the consensus estimate of $513.80 million. Gray Television had a net margin of 8.56% and a return on equity of 16.93%. The business’s revenue for the quarter was up 85.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. As a group, sell-side analysts forecast that Gray Television, Inc. will post 0.95 earnings per share for the current year.
Gray Television Company Profile
Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 28, 2019, it owned and operated television stations in 91 television markets broadcasting approximately 400 program streams, including approximately 150 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.
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