Barclays PLC Buys 145,263 Shares of Gray Television, Inc. (NYSE:GTN)

Barclays PLC grew its stake in Gray Television, Inc. (NYSE:GTN) by 114.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 272,272 shares of the company’s stock after acquiring an additional 145,263 shares during the quarter. Barclays PLC owned about 0.27% of Gray Television worth $1,460,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GTN. Creative Planning purchased a new position in Gray Television during the 3rd quarter worth $56,000. HBK Sorce Advisory LLC purchased a new stake in Gray Television in the second quarter valued at approximately $58,000. Choreo LLC acquired a new position in Gray Television in the 2nd quarter worth approximately $60,000. MML Investors Services LLC purchased a new position in Gray Television during the 3rd quarter worth approximately $65,000. Finally, EP Wealth Advisors LLC acquired a new stake in Gray Television during the 3rd quarter valued at approximately $67,000. 78.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GTN. Benchmark dropped their target price on Gray Television from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, November 11th. StockNews.com raised shares of Gray Television from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Guggenheim lowered their price objective on Gray Television from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Finally, Barrington Research upgraded Gray Television to a “hold” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Gray Television has an average rating of “Moderate Buy” and a consensus target price of $6.67.

Insiders Place Their Bets

In other Gray Television news, EVP Kevin Paul Latek sold 150,216 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $4.37, for a total transaction of $656,443.92. Following the transaction, the executive vice president now owns 509,212 shares of the company’s stock, valued at approximately $2,225,256.44. This trade represents a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.80% of the stock is currently owned by company insiders.

Gray Television Price Performance

Gray Television stock opened at $3.38 on Monday. The stock has a market cap of $336.87 million, a P/E ratio of 2.25, a PEG ratio of 0.13 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 company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.76. The company has a 50-day moving average price of $4.00 and a 200 day moving average price of $4.82.

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

Gray Television Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 9.47%. Gray Television’s dividend payout ratio (DPR) is 21.33%.

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.