Duality Advisers LP Buys New Shares in Gray Television, Inc. (NYSE:GTN)

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Duality Advisers LP purchased a new stake in shares of Gray Television, Inc. (NYSE:GTN) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 96,478 shares of the company’s stock, valued at approximately $1,346,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GTN. Clearbridge Investments LLC raised its holdings in shares of Gray Television by 35.2% during the 1st quarter. Clearbridge Investments LLC now owns 4,420,098 shares of the company’s stock valued at $47,472,000 after buying an additional 1,151,804 shares in the last quarter. Granahan Investment Management Inc. MA grew its position in Gray Television by 350.8% during the first quarter. Granahan Investment Management Inc. MA now owns 870,276 shares of the company’s stock valued at $9,347,000 after acquiring an additional 677,212 shares during the last quarter. Waddell & Reed Financial Inc. raised its stake in shares of Gray Television by 123.9% during the first quarter. Waddell & Reed Financial Inc. now owns 1,039,745 shares of the company’s stock worth $11,167,000 after acquiring an additional 575,419 shares in the last quarter. Norges Bank purchased a new position in shares of Gray Television during the fourth quarter worth approximately $5,847,000. Finally, Denali Advisors LLC bought a new stake in shares of Gray Television in the 2nd quarter worth approximately $2,867,000. Hedge funds and other institutional investors own 83.37% of the company’s stock.

A number of equities analysts recently commented on GTN shares. Noble Financial reiterated a “buy” rating and issued a $22.00 target price on shares of Gray Television in a research report on Friday, May 8th. Zacks Investment Research lowered Gray Television from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Finally, Barrington Research restated a “buy” rating and set a $20.00 price target on shares of Gray Television in a research report on Thursday, May 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Gray Television presently has a consensus rating of “Buy” and an average price target of $21.20.

GTN stock opened at $14.34 on Friday. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 7.24, a PEG ratio of 0.60 and a beta of 2.07. The firm’s 50-day moving average price is $14.11 and its two-hundred day moving average price is $15.07. The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 2.50. Gray Television, Inc. has a 12-month low of $8.53 and a 12-month high of $23.07.

Gray Television (NYSE:GTN) last posted its earnings results on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.17. The company had revenue of $534.00 million for the quarter, compared to analysts’ expectations of $543.75 million. Gray Television had a return on equity of 16.54% and a net margin of 11.09%. Gray Television’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm earned ($0.31) earnings per share. Equities analysts predict that Gray Television, Inc. will post 2.4 EPS for the current year.

In other Gray Television news, Director Robin Robinson Howell acquired 2,000 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were purchased at an average cost of $13.08 per share, for a total transaction of $26,160.00. Following the transaction, the director now owns 81,635 shares in the company, valued at $1,067,785.80. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 10.27% of the company’s stock.

About Gray Television

Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 28, 2019, it owned and operated television stations in 91 television markets broadcasting approximately 400 program streams, including approximately 150 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.

Further Reading: Equity Income

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Institutional Ownership by Quarter for Gray Television (NYSE:GTN)

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