BNP Paribas Financial Markets Raises Holdings in Gray Television, Inc. (NYSE:GTN)

BNP Paribas Financial Markets raised its position in Gray Television, Inc. (NYSE:GTN) by 109.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 127,497 shares of the company’s stock after purchasing an additional 66,578 shares during the period. BNP Paribas Financial Markets owned 0.13% of Gray Television worth $683,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GTN. nVerses Capital LLC purchased a new stake in shares of Gray Television in the 2nd quarter valued at approximately $27,000. CWM LLC grew its position in Gray Television by 733.1% in the second quarter. CWM LLC now owns 7,448 shares of the company’s stock worth $39,000 after acquiring an additional 6,554 shares during the period. Creative Planning acquired a new stake in Gray Television during the third quarter worth $56,000. HBK Sorce Advisory LLC purchased a new stake in Gray Television in the second quarter valued at $58,000. Finally, Choreo LLC purchased a new stake in Gray Television in the second quarter valued at $60,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. StockNews.com upgraded Gray Television from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Barrington Research raised Gray Television to a “hold” rating in a research note on Thursday, November 14th. Guggenheim dropped their target price on Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, Benchmark reduced 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, November 11th. One investment analyst has rated the stock with a sell rating, two have 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, Gray Television has an average rating of “Moderate Buy” and an average target price of $6.67.

Gray Television Stock Down 2.3 %

GTN stock opened at $3.90 on Friday. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.13. The company’s 50 day simple moving average is $4.98 and its 200-day simple moving average is $5.13. Gray Television, Inc. has a 12 month low of $3.90 and a 12 month high of $10.07. The firm has a market capitalization of $388.70 million, a PE ratio of 2.60, a P/E/G ratio of 0.14 and a beta of 1.36.

Gray Television (NYSE:GTN) last released its earnings results on Friday, November 8th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.08). The firm had revenue of $950.00 million during the quarter, compared to analysts’ expectations of $967.49 million. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The firm’s revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.57) earnings per share. Equities analysts expect that Gray Television, Inc. will post 2.88 earnings per share for the current fiscal year.

Gray Television Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 8.21%. The ex-dividend date of this dividend is Friday, December 13th. Gray Television’s dividend payout ratio (DPR) is currently 21.33%.

Insider Transactions at Gray Television

In other Gray Television news, EVP Kevin Paul Latek sold 150,216 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $4.37, for a total value of $656,443.92. Following the sale, the executive vice president now owns 509,212 shares in the company, valued at approximately $2,225,256.44. This trade represents a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.80% of the company’s stock.

Gray Television 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.