Gray Television, Inc. (NYSE:GTN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Gray Television, Inc. (NYSE:GTN) have earned a consensus rating of “Moderate Buy” from the five research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $6.67.

Several analysts have weighed in on GTN shares. Barrington Research upgraded Gray Television to a “hold” rating in a research report on Thursday, November 14th. Guggenheim lowered their price target 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. StockNews.com upgraded shares of Gray Television from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Benchmark dropped their target price on shares of Gray Television from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, November 11th.

Gray Television Trading Down 1.2 %

Shares of GTN stock opened at $3.70 on Tuesday. The business’s fifty day moving average is $3.59 and its 200 day moving average is $4.63. Gray Television has a 52-week low of $2.91 and a 52-week high of $9.20. The company has a market capitalization of $368.28 million, a PE ratio of 2.46 and a beta of 1.40. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.13 and a current ratio of 1.13.

Gray Television (NYSE:GTN) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.08). Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The company had revenue of $950.00 million during the quarter, compared to the consensus estimate of $967.49 million. During the same period in the previous year, the company earned ($0.57) EPS. Gray Television’s quarterly revenue was up 18.3% on a year-over-year basis. On average, equities research analysts anticipate that Gray Television will post 3.06 EPS for the current fiscal year.

Gray Television Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 8.66%. The ex-dividend date of this dividend was Friday, December 13th. Gray Television’s payout ratio is currently 21.33%.

Insider Transactions at Gray Television

In related news, EVP Kevin Paul Latek sold 150,216 shares of the company’s stock in a transaction on 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 owns 509,212 shares in the company, valued at approximately $2,225,256.44. This represents a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 13.83% of the company’s stock.

Institutional Trading of Gray Television

Hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers grew its holdings in shares of Gray Television by 4.8% in the fourth quarter. Rhumbline Advisers now owns 142,935 shares of the company’s stock valued at $450,000 after purchasing an additional 6,498 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Gray Television by 5.2% in the 4th quarter. Empowered Funds LLC now owns 432,686 shares of the company’s stock worth $1,363,000 after buying an additional 21,237 shares in the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of Gray Television in the 4th quarter worth about $340,000. Choreo LLC raised its position in shares of Gray Television by 60.0% during the 4th quarter. Choreo LLC now owns 26,827 shares of the company’s stock valued at $81,000 after buying an additional 10,058 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its holdings in shares of Gray Television by 15.8% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 108,796 shares of the company’s stock valued at $343,000 after acquiring an additional 14,871 shares during the last quarter. Hedge funds and other institutional investors own 78.64% 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.