Pitcairn Co. acquired a new position in Gray Television, Inc. (NYSE:GTN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 13,344 shares of the company’s stock, valued at approximately $209,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FMR LLC raised its stake in Gray Television by 52.1% during the 2nd quarter. FMR LLC now owns 5,870,039 shares of the company’s stock valued at $80,419,000 after buying an additional 2,011,342 shares during the last quarter. Royal Bank of Canada raised its stake in Gray Television by 221.6% during the 2nd quarter. Royal Bank of Canada now owns 2,688,226 shares of the company’s stock valued at $36,828,000 after buying an additional 1,852,301 shares during the last quarter. Thrivent Financial For Lutherans purchased a new stake in Gray Television during the 2nd quarter valued at $6,612,000. JPMorgan Chase & Co. raised its stake in Gray Television by 269.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 461,610 shares of the company’s stock valued at $6,323,000 after buying an additional 336,726 shares during the last quarter. Finally, Vivaldi Asset Management LLC purchased a new stake in Gray Television during the 2nd quarter valued at $3,348,000. Institutional investors own 80.43% of the company’s stock.
GTN has been the subject of a number of research reports. Zacks Investment Research lowered shares of Gray Television from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Guggenheim initiated coverage on shares of Gray Television in a research note on Wednesday, October 18th. They set a “buy” rating and a $20.00 target price for the company. ValuEngine upgraded shares of Gray Television from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Benchmark Co. reiterated a “buy” rating and set a $21.00 target price on shares of Gray Television in a research note on Tuesday, November 7th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $17.00 target price on shares of Gray Television in a research note on Wednesday, September 27th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Gray Television currently has an average rating of “Buy” and a consensus price target of $18.50.
Shares of Gray Television, Inc. (GTN) traded down $0.38 during mid-day trading on Monday, hitting $15.02. 69,139 shares of the stock were exchanged, compared to its average volume of 908,061. Gray Television, Inc. has a 12-month low of $8.45 and a 12-month high of $16.70. The company has a debt-to-equity ratio of 3.11, a quick ratio of 3.28 and a current ratio of 3.28. The company has a market cap of $1,118.06, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 1.45 and a beta of 3.22.
Gray Television (NYSE:GTN) last issued its quarterly earnings data on Monday, November 6th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Gray Television had a net margin of 14.91% and a return on equity of 15.53%. The business had revenue of $219.00 million for the quarter, compared to the consensus estimate of $218.78 million. During the same period in the previous year, the firm earned $0.26 EPS. The company’s revenue was up 7.1% on a year-over-year basis. sell-side analysts expect that Gray Television, Inc. will post 1.63 earnings per share for the current fiscal year.
Gray Television Profile
Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in various markets across the United States. As of February 21, 2017, the Company owned and/or operated television stations in 54 television markets broadcasting over 200 separate programming streams, including 37 affiliates of the CBS Network (CBS), 29 affiliates of the NBC Network (NBC), 20 affiliates of the ABC Network (ABC) and 15 affiliates of the FOX Network (FOX).
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