Scopus Asset Management L.P. Has $8.70 Million Stake in Gray Television, Inc. (NYSE:GTN)

Scopus Asset Management L.P. reduced its stake in shares of Gray Television, Inc. (NYSE:GTN) by 23.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 600,000 shares of the company’s stock after selling 186,948 shares during the period. Scopus Asset Management L.P. owned 0.83% of Gray Television worth $8,700,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisory Services Network LLC acquired a new position in shares of Gray Television during the first quarter worth $252,000. Feltz Wealth PLAN Inc. purchased a new stake in shares of Gray Television during the first quarter worth about $101,000. Highbridge Capital Management LLC boosted its stake in shares of Gray Television by 84.6% in the fourth quarter. Highbridge Capital Management LLC now owns 33,055 shares of the company’s stock worth $359,000 after buying an additional 15,147 shares in the last quarter. Norges Bank purchased a new stake in shares of Gray Television during the fourth quarter worth about $1,302,000. Finally, Ellington Management Group LLC bought a new stake in shares of Gray Television during the fourth quarter valued at about $281,000. Institutional investors and hedge funds own 87.10% of the company’s stock.

Gray Television, Inc. (NYSE:GTN) traded up 1.48% during trading on Friday, hitting $13.70. 382,979 shares of the stock were exchanged. The stock has a 50 day moving average of $12.93 and a 200-day moving average of $12.83. Gray Television, Inc. has a 52 week low of $7.00 and a 52 week high of $15.45. The stock has a market cap of $985.81 million, a P/E ratio of 15.57 and a beta of 3.29.

Gray Television (NYSE:GTN) last posted its earnings results on Thursday, May 4th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. The business had revenue of $203.46 million for the quarter, compared to the consensus estimate of $194.68 million. Gray Television had a net margin of 7.57% and a return on equity of 17.77%. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 EPS. Equities analysts expect that Gray Television, Inc. will post $0.91 EPS for the current fiscal year.

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Several equities research analysts recently issued reports on the company. Royal Bank Of Canada reiterated a “buy” rating and issued a $17.00 price target on shares of Gray Television in a research note on Thursday, April 13th. Benchmark Co. restated a “buy” rating and set a $19.00 target price on shares of Gray Television in a research note on Friday, May 5th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Gray Television presently has a consensus rating of “Buy” and a consensus price target of $16.50.

Gray Television Company 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).

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

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