Dakota Wealth Management Buys 3,781 Shares of Gray Television, Inc. (NYSE:GTN)

Dakota Wealth Management raised its stake in Gray Television, Inc. (NYSE:GTN) by 34.5% during the 2nd quarter, Holdings Channel reports. The fund owned 14,753 shares of the company’s stock after acquiring an additional 3,781 shares during the period. Dakota Wealth Management’s holdings in Gray Television were worth $77,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Capital Management Corp VA lifted its holdings in shares of Gray Television by 18.6% during the first quarter. Capital Management Corp VA now owns 3,670,410 shares of the company’s stock worth $23,197,000 after buying an additional 575,527 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Gray Television by 232.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 813,000 shares of the company’s stock worth $5,138,000 after acquiring an additional 568,400 shares during the period. Vanguard Group Inc. raised its holdings in Gray Television by 9.8% in the 1st quarter. Vanguard Group Inc. now owns 5,662,398 shares of the company’s stock valued at $35,786,000 after acquiring an additional 506,106 shares in the last quarter. CenterBook Partners LP bought a new stake in shares of Gray Television during the 4th quarter valued at $3,671,000. Finally, Empowered Funds LLC bought a new position in shares of Gray Television in the first quarter worth $2,010,000. 78.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on GTN. Benchmark reduced their price objective on shares of Gray Television from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Loop Capital raised shares of Gray Television to a “strong-buy” rating in a report on Wednesday, May 8th. Guggenheim dropped their price objective on shares of Gray Television from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. Finally, Wells Fargo & Company decreased their target price on shares of Gray Television from $6.00 to $4.00 and set an “underweight” rating on the stock in a research note on Friday, August 9th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Gray Television currently has an average rating of “Hold” and an average target price of $8.33.

Gray Television Trading Down 0.4 %

NYSE GTN traded down $0.02 during trading hours on Wednesday, reaching $4.78. The company’s stock had a trading volume of 225,133 shares, compared to its average volume of 1,300,193. The firm has a fifty day simple moving average of $5.21 and a 200-day simple moving average of $5.93. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.42 and a quick ratio of 1.42. Gray Television, Inc. has a 52 week low of $4.15 and a 52 week high of $10.07. The stock has a market cap of $473.88 million, a P/E ratio of -40.00, a P/E/G ratio of 0.12 and a beta of 1.52.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). Gray Television had a net margin of 1.30% and a return on equity of 2.13%. The business had revenue of $826.00 million for the quarter, compared to the consensus estimate of $840.33 million. During the same period in the previous year, the business posted ($0.10) EPS. Gray Television’s revenue was up 1.6% on a year-over-year basis. Equities analysts forecast that Gray Television, Inc. will post 5.15 earnings per share for the current fiscal year.

Gray Television Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.08 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 6.69%. Gray Television’s dividend payout ratio (DPR) is presently -266.67%.

Gray Television Company 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.