nVerses Capital LLC Purchases 9,200 Shares of Gray Television, Inc. (NYSE:GTN)

nVerses Capital LLC lifted its position in shares of Gray Television, Inc. (NYSE:GTN) by 180.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,300 shares of the company’s stock after buying an additional 9,200 shares during the quarter. nVerses Capital LLC’s holdings in Gray Television were worth $77,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Gray Television by 9.8% during the 1st quarter. Vanguard Group Inc. now owns 5,662,398 shares of the company’s stock worth $35,786,000 after buying an additional 506,106 shares in the last quarter. Empowered Funds LLC bought a new stake in Gray Television during the first quarter valued at about $2,010,000. BNP Paribas Financial Markets boosted its position in Gray Television by 168.1% during the first quarter. BNP Paribas Financial Markets now owns 67,101 shares of the company’s stock valued at $424,000 after purchasing an additional 42,075 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Gray Television by 3.2% during the first quarter. Russell Investments Group Ltd. now owns 212,937 shares of the company’s stock valued at $1,346,000 after purchasing an additional 6,652 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in Gray Television by 454.2% during the second quarter. Squarepoint Ops LLC now owns 142,541 shares of the company’s stock valued at $741,000 after purchasing an additional 116,821 shares in the last quarter. Institutional investors own 78.64% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GTN shares. Benchmark dropped their price objective on Gray Television from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Guggenheim dropped their price objective on Gray Television from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company dropped their price objective on Gray Television from $6.00 to $4.00 and set an “underweight” rating on the stock in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.33.

Gray Television Trading Down 1.0 %

Shares of NYSE:GTN opened at $5.86 on Monday. Gray Television, Inc. has a 52-week low of $4.15 and a 52-week high of $10.07. The stock has a market cap of $580.95 million, a price-to-earnings ratio of -48.83, a PEG ratio of 0.12 and a beta of 1.49. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 2.98. The business has a 50-day moving average price of $5.07 and a 200-day moving average price of $5.48.

Gray Television (NYSE:GTN) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.09 earnings per share (EPS) 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 firm had revenue of $826.00 million during the quarter, compared to analysts’ expectations of $840.33 million. During the same quarter in the previous year, the business earned ($0.10) earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities analysts predict that Gray Television, Inc. will post 4.37 EPS for the current year.

Gray Television Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 5.46%. The ex-dividend date of this dividend was Friday, September 13th. Gray Television’s payout ratio is -266.67%.

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.