15,312 Shares in Gray Television, Inc. (NYSE:GTN) Acquired by Point72 DIFC Ltd

Point72 DIFC Ltd bought a new stake in shares of Gray Television, Inc. (NYSE:GTN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 15,312 shares of the company’s stock, valued at approximately $82,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 worth $1,283,000 after acquiring an additional 2,654 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Gray Television by 3.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 91,405 shares of the company’s stock worth $578,000 after purchasing an additional 3,068 shares in the last quarter. Diversified Trust Co increased its position in shares of Gray Television by 13.7% during the 2nd quarter. Diversified Trust Co now owns 25,633 shares of the company’s stock valued at $133,000 after purchasing an additional 3,097 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Gray Television by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 139,642 shares of the company’s stock valued at $726,000 after buying an additional 3,544 shares in the last quarter. Finally, Dakota Wealth Management raised its holdings in shares of Gray Television by 34.5% during the 2nd quarter. Dakota Wealth Management now owns 14,753 shares of the company’s stock valued at $77,000 after buying an additional 3,781 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Gray Television Stock Down 1.4 %

Shares of NYSE GTN opened at $4.10 on Monday. The firm’s fifty day moving average is $5.08 and its 200 day moving average is $5.17. Gray Television, Inc. has a 52 week low of $3.95 and a 52 week high of $10.07. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.76. The company has a market cap of $408.63 million, a price-to-earnings ratio of 2.73, a PEG ratio of 0.15 and a beta of 1.36.

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

Gray Television Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 7.80%. Gray Television’s dividend payout ratio (DPR) is presently 21.33%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GTN. 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. Barrington Research raised shares of Gray Television to a “hold” rating in a report on Thursday, November 14th. StockNews.com raised shares of Gray Television from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Guggenheim cut their price target on shares of Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Gray Television has an average rating of “Moderate Buy” and a consensus target price of $6.67.

Insider Transactions at Gray Television

In other news, EVP Kevin Paul Latek sold 150,216 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $4.37, for a total value of $656,443.92. Following the completion of the transaction, the executive vice president now owns 509,212 shares of the company’s stock, valued at approximately $2,225,256.44. This represents a 22.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.80% of the company’s stock.

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.