MQS Management LLC Has $196,000 Holdings in Gray Television, Inc. (NYSE:GTN)

MQS Management LLC raised its position in shares of Gray Television, Inc. (NYSE:GTN) by 104.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,645 shares of the company’s stock after acquiring an additional 19,273 shares during the period. MQS Management LLC’s holdings in Gray Television were worth $196,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in Gray Television by 7.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,221,487 shares of the company’s stock valued at $19,905,000 after purchasing an additional 160,500 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Gray Television by 23.2% during the fourth quarter. Principal Financial Group Inc. now owns 55,663 shares of the company’s stock worth $499,000 after buying an additional 10,469 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Gray Television by 0.6% during the fourth quarter. Clearbridge Investments LLC now owns 1,283,430 shares of the company’s stock worth $11,500,000 after buying an additional 7,965 shares in the last quarter. Trexquant Investment LP boosted its position in shares of Gray Television by 726.1% in the fourth quarter. Trexquant Investment LP now owns 89,454 shares of the company’s stock valued at $802,000 after acquiring an additional 78,626 shares during the period. Finally, Boulder Hill Capital Management LP acquired a new position in shares of Gray Television in the fourth quarter valued at about $303,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Gray Television Stock Performance

Shares of Gray Television stock opened at $5.03 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 2.98. The company has a market cap of $498.66 million, a PE ratio of -41.92, a price-to-earnings-growth ratio of 0.09 and a beta of 1.49. The company has a 50 day moving average of $5.18 and a 200-day moving average of $5.56. Gray Television, Inc. has a 1-year low of $4.15 and a 1-year high of $10.07.

Gray Television (NYSE:GTN) last released its earnings results on Thursday, August 8th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). The business had revenue of $826.00 million for the quarter, compared to the consensus estimate of $840.33 million. Gray Television had a return on equity of 3.02% and a net margin of 1.84%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.10) earnings per share. As a group, equities research analysts forecast that Gray Television, Inc. will post 4.97 earnings per share for the current fiscal year.

Gray Television Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 6.36%. The ex-dividend date of this dividend is Friday, September 13th. Gray Television’s dividend payout ratio (DPR) is presently -266.67%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Guggenheim cut their price objective on shares of Gray Television from $12.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Benchmark cut their price target on Gray Television from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Wells Fargo & Company reduced their price target on Gray Television from $6.00 to $4.00 and set an “underweight” rating on the stock in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $8.33.

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.