11,509 Shares in Gray Television, Inc. (NYSE:GTN) Purchased by Choreo LLC

Choreo LLC purchased a new position in Gray Television, Inc. (NYSE:GTN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,509 shares of the company’s stock, valued at approximately $60,000.

Several other hedge funds have also recently added to or reduced their stakes in GTN. Capital Management Corp VA raised its position in Gray Television by 18.6% in the first quarter. Capital Management Corp VA now owns 3,670,410 shares of the company’s stock worth $23,197,000 after purchasing an additional 575,527 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Gray Television by 232.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 813,000 shares of the company’s stock worth $5,138,000 after purchasing an additional 568,400 shares in the last quarter. Vanguard Group Inc. raised its position in Gray Television by 9.8% in the first quarter. Vanguard Group Inc. now owns 5,662,398 shares of the company’s stock worth $35,786,000 after purchasing an additional 506,106 shares in the last quarter. CenterBook Partners LP acquired a new position in Gray Television in the fourth quarter worth about $3,671,000. Finally, Empowered Funds LLC acquired a new position in Gray Television in the first quarter worth about $2,010,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Gray Television Stock Performance

NYSE GTN opened at $5.03 on Friday. The firm has a market cap of $498.66 million, a price-to-earnings ratio of -41.92, a PEG ratio of 0.09 and a beta of 1.49. The company has a 50 day moving average of $5.19 and a 200-day moving average of $5.56. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 2.98. Gray Television, Inc. has a 1-year low of $4.15 and a 1-year high of $10.07.

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

Gray Television Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 6.36%. The ex-dividend date of this dividend is Friday, September 13th. Gray Television’s dividend payout ratio is currently -266.67%.

Wall Street Analyst Weigh In

GTN has been the subject of several recent research reports. Wells Fargo & Company dropped their price target 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. 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 report on Friday, August 9th. Finally, Guggenheim dropped their price objective on shares of Gray Television from $12.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.33.

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.