Gray Television, Inc. (NYSE:GTN) Director Buys $57,000.00 in Stock

Gray Television, Inc. (NYSE:GTNGet Rating) Director Robin Robinson Howell acquired 3,000 shares of the firm’s stock in a transaction on Wednesday, May 11th. The shares were acquired at an average price of $19.00 per share, with a total value of $57,000.00. Following the completion of the transaction, the director now directly owns 1,692,554 shares in the company, valued at approximately $32,158,526. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of GTN stock opened at $19.54 on Friday. The stock’s 50 day simple moving average is $21.21 and its 200 day simple moving average is $21.47. The company has a debt-to-equity ratio of 3.74, a quick ratio of 2.51 and a current ratio of 2.80. Gray Television, Inc. has a twelve month low of $18.14 and a twelve month high of $25.24. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 0.43 and a beta of 1.73.

Gray Television (NYSE:GTNGet Rating) last issued its quarterly earnings data on Friday, May 6th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.15. Gray Television had a return on equity of 6.35% and a net margin of 4.19%. The business had revenue of $827.00 million for the quarter, compared to the consensus estimate of $805.23 million. During the same period last year, the business earned $0.27 EPS. The firm’s revenue was up 52.0% compared to the same quarter last year. On average, analysts forecast that Gray Television, Inc. will post 4.63 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 15th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, June 14th. Gray Television’s payout ratio is 50.00%.

A number of equities research analysts have recently weighed in on the company. Barrington Research raised their price target on Gray Television from $25.00 to $28.00 in a research note on Wednesday, March 2nd. Wells Fargo & Company raised their price target on Gray Television from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, February 28th. Zacks Investment Research raised Gray Television from a “hold” rating to a “strong-buy” rating and set a $22.00 price target for the company in a research note on Friday. StockNews.com raised Gray Television from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Loop Capital raised their price target on Gray Television from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, March 7th.

Several hedge funds have recently modified their holdings of the stock. Diversified Trust Co raised its stake in shares of Gray Television by 8.2% in the 4th quarter. Diversified Trust Co now owns 10,306 shares of the company’s stock valued at $208,000 after acquiring an additional 782 shares in the last quarter. Legal & General Group Plc increased its position in Gray Television by 1.0% in the 4th quarter. Legal & General Group Plc now owns 76,055 shares of the company’s stock worth $1,533,000 after buying an additional 783 shares during the period. Hussman Strategic Advisors Inc. increased its position in Gray Television by 0.6% in the 4th quarter. Hussman Strategic Advisors Inc. now owns 156,000 shares of the company’s stock worth $3,145,000 after buying an additional 1,000 shares during the period. Teacher Retirement System of Texas increased its position in Gray Television by 6.7% in the 1st quarter. Teacher Retirement System of Texas now owns 16,314 shares of the company’s stock worth $360,000 after buying an additional 1,022 shares during the period. Finally, Nisa Investment Advisors LLC bought a new position in Gray Television in the 1st quarter worth approximately $26,000. 75.11% of the stock is currently owned by institutional investors and hedge funds.

About Gray Television (Get Rating)

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, Justice, This TV Network, Antenna TV, Telemundo, Cozi, Heroes and Icons, and MOVIES! Network; and local news/weather channels in various markets.

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