Dark Forest Capital Management LP Acquires 53,053 Shares of Gray Television, Inc. (NYSE:GTN)

Dark Forest Capital Management LP boosted its holdings in Gray Television, Inc. (NYSE:GTN) by 502.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 63,617 shares of the company’s stock after acquiring an additional 53,053 shares during the period. Dark Forest Capital Management LP owned 0.06% of Gray Television worth $331,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. AQR Capital Management LLC raised its position in shares of Gray Television by 4.8% in the second quarter. AQR Capital Management LLC now owns 1,055,389 shares of the company’s stock valued at $5,488,000 after purchasing an additional 48,623 shares during the period. Caxton Associates LP bought a new position in Gray Television in the 2nd quarter valued at about $368,000. Squarepoint Ops LLC lifted its position in Gray Television by 454.2% during the second quarter. Squarepoint Ops LLC now owns 142,541 shares of the company’s stock worth $741,000 after acquiring an additional 116,821 shares during the last quarter. MQS Management LLC boosted its holdings in shares of Gray Television by 104.9% during the second quarter. MQS Management LLC now owns 37,645 shares of the company’s stock worth $196,000 after acquiring an additional 19,273 shares during the period. Finally, Hsbc Holdings PLC grew its position in shares of Gray Television by 17.0% in the second quarter. Hsbc Holdings PLC now owns 35,649 shares of the company’s stock valued at $187,000 after purchasing an additional 5,177 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GTN shares. Guggenheim reduced their price target on Gray Television from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. Wells Fargo & Company reduced their target price on shares of Gray Television from $6.00 to $4.00 and set an “underweight” rating for the company in a research report on Friday, August 9th. Finally, Benchmark dropped their price objective on shares of Gray Television from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, one has assigned 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 stock has an average rating of “Hold” and an average price target of $8.33.

Gray Television Stock Up 4.1 %

GTN stock opened at $5.31 on Friday. The company has a market cap of $526.42 million, a PE ratio of -44.25, a price-to-earnings-growth ratio of 0.10 and a beta of 1.49. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 2.98. Gray Television, Inc. has a 52 week low of $4.15 and a 52 week high of $10.07. The business has a 50-day simple moving average of $5.14 and a 200 day simple moving average of $5.53.

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

Gray Television Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 6.03%. The ex-dividend date of this dividend is Friday, September 13th. Gray Television’s payout ratio is -266.67%.

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.