Gray Television, Inc. (NYSE:GTN) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC lowered its holdings in Gray Television, Inc. (NYSE:GTN) by 50.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 88,934 shares of the company’s stock after selling 91,743 shares during the period. Sanctuary Advisors LLC owned approximately 0.09% of Gray Television worth $280,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GTN. Creative Planning acquired a new position in shares of Gray Television in the third quarter valued at approximately $56,000. Wilmington Savings Fund Society FSB acquired a new position in Gray Television during the 3rd quarter worth approximately $59,000. MML Investors Services LLC acquired a new position in Gray Television during the 3rd quarter worth approximately $65,000. EP Wealth Advisors LLC acquired a new position in Gray Television during the 3rd quarter worth approximately $67,000. Finally, Choreo LLC grew its holdings in Gray Television by 60.0% during the 4th quarter. Choreo LLC now owns 26,827 shares of the company’s stock worth $81,000 after acquiring an additional 10,058 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Insider Activity at Gray Television

In related news, Director Richard Lee Boger sold 16,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $3.85, for a total value of $61,600.00. Following the completion of the sale, the director now owns 55,347 shares in the company, valued at $213,085.95. This represents a 22.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wells Fargo & Company upgraded shares of Gray Television from an “underweight” rating to an “equal weight” rating and set a $4.00 price target for the company in a report on Monday. Benchmark lowered their price target on shares of Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a report on Monday, November 11th. StockNews.com upgraded shares of Gray Television from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Guggenheim lowered their price target on shares of Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, Barrington Research upgraded shares of Gray Television to a “hold” rating in a report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Gray Television has a consensus rating of “Moderate Buy” and a consensus target price of $6.67.

Gray Television Stock Down 3.9 %

Shares of NYSE:GTN opened at $3.55 on Wednesday. The company has a market capitalization of $353.32 million, a PE ratio of 2.36 and a beta of 1.41. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.76. Gray Television, Inc. has a twelve month low of $2.91 and a twelve month high of $7.41. The firm has a 50 day simple moving average of $3.63 and a 200-day simple moving average of $4.42.

Gray Television (NYSE:GTN) last issued its quarterly earnings data on Thursday, February 27th. The company reported $1.59 earnings per share for the quarter, hitting the consensus estimate of $1.59. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. On average, equities analysts predict that Gray Television, Inc. will post 3.32 EPS for the current fiscal year.

Gray Television Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.32 annualized dividend and a yield of 9.03%. Gray Television’s dividend payout ratio (DPR) is 9.61%.

Gray Television Company 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.