Hsbc Holdings PLC Boosts Holdings in Gray Television, Inc. (NYSE:GTN)

Hsbc Holdings PLC increased its position in Gray Television, Inc. (NYSE:GTN) by 17.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,649 shares of the company’s stock after purchasing an additional 5,177 shares during the quarter. Hsbc Holdings PLC’s holdings in Gray Television were worth $187,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in GTN. Denali Advisors LLC boosted its position in Gray Television by 27.5% in the 2nd quarter. Denali Advisors LLC now owns 357,019 shares of the company’s stock valued at $1,856,000 after buying an additional 77,100 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Gray Television by 17.2% in the second quarter. Envestnet Asset Management Inc. now owns 560,825 shares of the company’s stock valued at $2,916,000 after purchasing an additional 82,454 shares during the last quarter. HBK Sorce Advisory LLC acquired a new stake in Gray Television during the 2nd quarter valued at approximately $58,000. Cornercap Investment Counsel Inc. increased its holdings in Gray Television by 225.1% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 125,126 shares of the company’s stock worth $651,000 after purchasing an additional 86,638 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Gray Television by 6.7% in the 2nd quarter. American Century Companies Inc. now owns 124,857 shares of the company’s stock valued at $649,000 after purchasing an additional 7,836 shares in the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

Gray Television Stock Up 1.9 %

GTN stock opened at $5.44 on Friday. The firm has a fifty day moving average price of $5.06 and a two-hundred day moving average price of $5.52. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.63 and a quick ratio of 1.63. Gray Television, Inc. has a 1-year low of $4.15 and a 1-year high of $10.07. The firm has a market cap of $539.31 million, a price-to-earnings ratio of -45.33, a PEG ratio of 0.10 and a beta of 1.49.

Gray Television (NYSE:GTN) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). Gray Television had a return on equity of 3.02% and a net margin of 1.84%. The business had revenue of $826.00 million for the quarter, compared to analyst estimates of $840.33 million. During the same quarter last year, the company earned ($0.10) EPS. Gray Television’s revenue was up 1.6% compared to the same quarter last year. Research analysts predict that Gray Television, Inc. will post 4.97 EPS for the current year.

Gray Television Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $0.08 per share. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 5.88%. Gray Television’s dividend payout ratio is currently -266.67%.

Analysts Set New Price Targets

GTN has been the subject of a number of recent analyst reports. Benchmark decreased their price target on shares of Gray Television from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Wells Fargo & Company cut their target price on shares of Gray Television from $6.00 to $4.00 and set an “underweight” rating on the stock in a research note on Friday, August 9th. Finally, Guggenheim decreased their price target on Gray Television from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Gray Television currently has a consensus rating of “Hold” and an average price target of $8.33.

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.