Healthcare of Ontario Pension Plan Trust Fund Boosts Stock Position in Gray Television, Inc. (NYSE:GTN)

Healthcare of Ontario Pension Plan Trust Fund increased its position in Gray Television, Inc. (NYSE:GTN) by 232.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 813,000 shares of the company’s stock after acquiring an additional 568,400 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Gray Television were worth $5,138,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GTN. CWM LLC raised its position in shares of Gray Television by 61.5% during the fourth quarter. CWM LLC now owns 3,017 shares of the company’s stock valued at $27,000 after buying an additional 1,149 shares during the last quarter. M&T Bank Corp lifted its stake in Gray Television by 10.4% in the 4th quarter. M&T Bank Corp now owns 17,485 shares of the company’s stock worth $157,000 after purchasing an additional 1,644 shares in the last quarter. Oak Thistle LLC boosted its holdings in shares of Gray Television by 33.1% during the 4th quarter. Oak Thistle LLC now owns 14,293 shares of the company’s stock valued at $128,000 after purchasing an additional 3,551 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Gray Television during the first quarter valued at about $25,000. Finally, Jennison Associates LLC grew its position in shares of Gray Television by 5.1% during the fourth quarter. Jennison Associates LLC now owns 95,871 shares of the company’s stock valued at $859,000 after purchasing an additional 4,639 shares in the last quarter. Institutional investors own 78.64% of the company’s stock.

Gray Television Trading Up 3.0 %

Shares of GTN stock opened at $6.28 on Friday. The stock’s 50-day moving average is $5.45 and its 200 day moving average is $6.49. Gray Television, Inc. has a 1-year low of $4.39 and a 1-year high of $10.69. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.99.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.25. The business had revenue of $823.00 million for the quarter, compared to analysts’ expectations of $824.98 million. Gray Television had a net margin of 1.30% and a return on equity of 2.13%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business earned ($0.48) EPS. As a group, equities analysts anticipate that Gray Television, Inc. will post 5.15 EPS for the current fiscal year.

Gray Television Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend was Friday, June 14th. Gray Television’s dividend payout ratio is currently -266.67%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GTN shares. Benchmark raised their target price on shares of Gray Television from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Loop Capital raised shares of Gray Television to a “strong-buy” rating in a research note on Wednesday, May 8th. Finally, Wells Fargo & Company upped their price objective on Gray Television from $5.50 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.40.

Gray Television 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.