Gray Television, Inc. (NYSE:GTN) Shares Purchased by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC increased its position in shares of Gray Television, Inc. (NYSE:GTN) by 15.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,796 shares of the company’s stock after purchasing an additional 14,871 shares during the quarter. Linden Thomas Advisory Services LLC owned 0.11% of Gray Television worth $343,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Creative Planning acquired a new stake in shares of Gray Television during the third quarter worth about $56,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Gray Television during the third quarter worth about $59,000. MML Investors Services LLC acquired a new stake in shares of Gray Television during the third quarter worth about $65,000. EP Wealth Advisors LLC purchased a new position in Gray Television during the third quarter valued at approximately $67,000. Finally, nVerses Capital LLC raised its position in Gray Television by 180.4% during the third quarter. nVerses Capital LLC now owns 14,300 shares of the company’s stock valued at $77,000 after acquiring an additional 9,200 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Analysts Set New Price Targets

GTN has been the subject of several recent research reports. Guggenheim reduced their price target on Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Benchmark reduced their price target on Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 11th. StockNews.com upgraded Gray Television from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Barrington Research upgraded Gray Television to a “hold” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Gray Television has an average rating of “Moderate Buy” and a consensus price target of $6.67.

Gray Television Stock Up 4.9 %

Gray Television stock opened at $3.72 on Monday. The stock has a market capitalization of $370.27 million, a PE ratio of 2.48 and a beta of 1.39. Gray Television, Inc. has a 12 month low of $2.91 and a 12 month high of $10.07. The business has a 50 day simple moving average of $3.67 and a 200-day simple moving average of $4.70. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.13.

Gray Television (NYSE:GTN) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.08). Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The business had revenue of $950.00 million during the quarter, compared to analysts’ expectations of $967.49 million. During the same quarter last year, the firm earned ($0.57) earnings per share. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. On average, analysts anticipate that Gray Television, Inc. will post 3.06 EPS for the current fiscal year.

Gray Television Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 8.61%. The ex-dividend date was Friday, December 13th. Gray Television’s payout ratio is 21.33%.

Insider Buying and Selling

In related news, EVP Kevin Paul Latek sold 150,216 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $4.37, for a total transaction of $656,443.92. Following the completion of the sale, the executive vice president now directly owns 509,212 shares in the company, valued at approximately $2,225,256.44. The trade was a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.80% of the stock is owned by company insiders.

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.