Barclays PLC Raises Holdings in Gray Television, Inc. (NYSE:GTN)

Barclays PLC lifted its position in shares of Gray Television, Inc. (NYSE:GTN) by 114.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 272,272 shares of the company’s stock after acquiring an additional 145,263 shares during the quarter. Barclays PLC owned approximately 0.27% of Gray Television worth $1,460,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GTN. nVerses Capital LLC purchased a new position in Gray Television in the 2nd quarter valued at approximately $27,000. Creative Planning bought a new position in shares of Gray Television in the third quarter worth $56,000. HBK Sorce Advisory LLC purchased a new position in shares of Gray Television in the second quarter valued at $58,000. Choreo LLC purchased a new position in shares of Gray Television in the second quarter valued at $60,000. Finally, MML Investors Services LLC bought a new stake in shares of Gray Television during the 3rd quarter valued at $65,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Barrington Research raised Gray Television to a “hold” rating in a report on Thursday, November 14th. Benchmark reduced their price objective on shares of Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, November 11th. StockNews.com upgraded shares of Gray Television from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Guggenheim reduced their price target on shares of Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Gray Television has an average rating of “Moderate Buy” and a consensus price target of $6.67.

Gray Television Stock Down 3.5 %

Shares of NYSE GTN opened at $3.01 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.76. The business has a 50-day moving average of $4.45 and a 200-day moving average of $4.93. The firm has a market capitalization of $300.00 million, a price-to-earnings ratio of 2.01, a PEG ratio of 0.14 and a beta of 1.36. Gray Television, Inc. has a 12 month low of $2.91 and a 12 month high of $10.07.

Gray Television (NYSE:GTN) last announced its earnings results on Friday, November 8th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.08). The company had revenue of $950.00 million for the quarter, compared to the consensus estimate of $967.49 million. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.57) earnings per share. Sell-side analysts expect that Gray Television, Inc. will post 2.88 earnings per share for the current fiscal year.

Gray Television Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a yield of 10.63%. Gray Television’s dividend payout ratio is presently 21.33%.

Insider Buying and Selling at Gray Television

In other Gray Television news, EVP Kevin Paul Latek sold 150,216 shares of the company’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 value of $656,443.92. Following the completion of the sale, the executive vice president now owns 509,212 shares of the company’s stock, valued at $2,225,256.44. This represents a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.80% of the company’s stock.

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.