Gray Television, Inc. (NYSE:GTN) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC boosted its position in Gray Television, Inc. (NYSE:GTN) by 10.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,031 shares of the company’s stock after buying an additional 6,480 shares during the quarter. HighTower Advisors LLC owned 0.07% of Gray Television worth $374,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Gray Television by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,371 shares of the company’s stock valued at $1,283,000 after buying an additional 2,654 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Gray Television by 2.6% during the second quarter. Rhumbline Advisers now owns 139,642 shares of the company’s stock valued at $726,000 after purchasing an additional 3,544 shares during the last quarter. Hudson Edge Investment Partners Inc. raised its position in shares of Gray Television by 11.9% during the 2nd quarter. Hudson Edge Investment Partners Inc. now owns 45,388 shares of the company’s stock worth $236,000 after purchasing an additional 4,832 shares during the period. nVerses Capital LLC bought a new stake in shares of Gray Television in the 2nd quarter worth approximately $27,000. Finally, Hsbc Holdings PLC lifted its stake in Gray Television by 17.0% in the second quarter. Hsbc Holdings PLC now owns 35,649 shares of the company’s stock valued at $187,000 after buying an additional 5,177 shares during the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GTN has been the topic of a number of recent analyst reports. Barrington Research upgraded shares of Gray Television to a “hold” rating in a research report on Thursday, November 14th. Benchmark dropped their target price on Gray Television from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, November 11th. StockNews.com raised Gray Television from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Guggenheim lowered their price target on Gray Television from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.67.

Gray Television Stock Down 0.7 %

NYSE:GTN opened at $2.99 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.76. Gray Television, Inc. has a 12-month low of $2.96 and a 12-month high of $10.07. The firm has a market capitalization of $298.00 million, a P/E ratio of 1.99, a P/E/G ratio of 0.14 and a beta of 1.36. The stock’s fifty day simple moving average is $4.73 and its 200-day simple moving average is $5.02.

Gray Television (NYSE:GTN) last issued 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). Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The business had revenue of $950.00 million for the quarter, compared to the consensus estimate of $967.49 million. During the same period in the prior year, the business earned ($0.57) earnings per share. Gray Television’s revenue was up 18.3% compared to the same quarter last year. Equities research analysts expect that Gray Television, Inc. will post 2.88 earnings per share for the current year.

Gray Television Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 10.70%. Gray Television’s dividend payout ratio is currently 21.33%.

Insider Transactions at Gray Television

In other news, EVP Kevin Paul Latek sold 150,216 shares of Gray Television stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $4.37, for a total transaction of $656,443.92. Following the completion of the transaction, the executive vice president now directly owns 509,212 shares in the company, valued at $2,225,256.44. This trade represents a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.