Rhumbline Advisers Has $450,000 Holdings in Gray Television, Inc. (NYSE:GTN)

Rhumbline Advisers increased its holdings in shares of Gray Television, Inc. (NYSE:GTN) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,935 shares of the company’s stock after acquiring an additional 6,498 shares during the period. Rhumbline Advisers owned about 0.14% of Gray Television worth $450,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Empowered Funds LLC boosted its position in shares of Gray Television by 5.2% in the 4th quarter. Empowered Funds LLC now owns 432,686 shares of the company’s stock worth $1,363,000 after purchasing an additional 21,237 shares during the last quarter. Kingsview Wealth Management LLC bought a new position in shares of Gray Television in the 4th quarter worth $340,000. Choreo LLC boosted its position in shares of Gray Television by 60.0% in the 4th quarter. Choreo LLC now owns 26,827 shares of the company’s stock worth $81,000 after purchasing an additional 10,058 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its position in shares of Gray Television by 15.8% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 108,796 shares of the company’s stock worth $343,000 after purchasing an additional 14,871 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Gray Television by 5.5% in the 3rd quarter. Franklin Resources Inc. now owns 696,853 shares of the company’s stock worth $3,951,000 after purchasing an additional 36,312 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on GTN. Wells Fargo & Company upgraded Gray Television from an “underweight” rating to an “equal weight” rating and set a $4.00 price target on the stock in a research report on Monday, March 3rd. Benchmark dropped their price objective on Gray Television from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. StockNews.com raised Gray Television from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Guggenheim dropped their price objective on Gray Television from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, Barrington Research raised Gray Television to a “hold” rating in a research note on Thursday, November 14th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.67.

Gray Television Stock Performance

GTN opened at $3.75 on Friday. The company has a market capitalization of $373.25 million, a price-to-earnings ratio of 2.50 and a beta of 1.41. The business’s 50-day moving average price is $3.67 and its two-hundred day moving average price is $4.39. Gray Television, Inc. has a 1 year low of $2.91 and a 1 year high of $7.41. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.13.

Gray Television (NYSE:GTN) last issued its quarterly earnings results on Thursday, February 27th. The company reported $1.59 EPS for the quarter, meeting analysts’ consensus estimates of $1.59. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. Equities analysts expect that Gray Television, Inc. will post 3.32 EPS for the current fiscal year.

Gray Television Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.32 annualized dividend and a yield of 8.54%. Gray Television’s payout ratio is presently 9.61%.

Insider Buying and Selling

In related news, Director Richard Lee Boger sold 16,000 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $3.85, for a total transaction of $61,600.00. Following the sale, the director now owns 55,347 shares in the company, valued at approximately $213,085.95. This represents a 22.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.80% of the stock is currently owned by corporate insiders.

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.