Wealth Enhancement Advisory Services LLC Has $266,000 Stock Holdings in Gray Television, Inc. (NYSE:GTN)

Wealth Enhancement Advisory Services LLC trimmed its stake in Gray Television, Inc. (NYSE:GTN) by 17.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,552 shares of the company’s stock after selling 10,459 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Gray Television were worth $266,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Capital Management Corp VA lifted its stake in shares of Gray Television by 18.6% in the first quarter. Capital Management Corp VA now owns 3,670,410 shares of the company’s stock valued at $23,197,000 after buying an additional 575,527 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of 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 valued at $5,138,000 after buying an additional 568,400 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Gray Television by 9.8% in the first quarter. Vanguard Group Inc. now owns 5,662,398 shares of the company’s stock valued at $35,786,000 after buying an additional 506,106 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Gray Television in the first quarter valued at $2,010,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Gray Television in the first quarter valued at $1,093,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Gray Television Price Performance

Shares of Gray Television stock opened at $4.51 on Tuesday. Gray Television, Inc. has a 52-week low of $3.95 and a 52-week high of $10.07. The stock has a market capitalization of $449.01 million, a price-to-earnings ratio of 3.00, a price-to-earnings-growth ratio of 0.10 and a beta of 1.47. The company has a fifty day moving average of $5.29 and a 200-day moving average of $5.45. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.63 and a current ratio of 1.63.

Gray Television (NYSE:GTN) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.08). The firm had revenue of $950.00 million for the quarter, compared to analysts’ expectations of $967.49 million. Gray Television had a net margin of 1.84% and a return on equity of 3.02%. The company’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.57) EPS. Equities research analysts expect that Gray Television, Inc. will post 4.37 EPS for the current year.

Gray Television Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.08 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 7.10%. Gray Television’s payout ratio is 21.33%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GTN shares. StockNews.com raised shares of Gray Television from a “sell” rating to a “hold” rating in a research report on Monday. Guggenheim dropped their price target on shares of Gray Television from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Wells Fargo & Company dropped their price target on shares of Gray Television from $6.00 to $4.00 and set an “underweight” rating on the stock in a research report on Friday, August 9th. Finally, Benchmark dropped their price target on shares of Gray Television from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $7.33.

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.