Gray Television (NYSE:GTN) Upgraded to Hold at StockNews.com

Gray Television (NYSE:GTNGet Rating) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

Several other analysts have also commented on the company. Barrington Research raised their price objective on Gray Television from $25.00 to $28.00 in a report on Wednesday, March 2nd. Wells Fargo & Company lifted 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. Finally, Loop Capital lifted 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.

Shares of GTN stock opened at $17.03 on Thursday. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 3.74. Gray Television has a twelve month low of $16.96 and a twelve month high of $25.24. The stock has a 50 day moving average of $19.34 and a 200 day moving average of $20.85. The stock has a market cap of $1.62 billion, a P/E ratio of 26.61, a P/E/G ratio of 0.34 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 EPS for the quarter, beating the consensus estimate of $0.25 by $0.27. Gray Television had a return on equity of 6.35% and a net margin of 4.19%. The company had revenue of $827.00 million for the quarter, compared to analyst estimates of $805.23 million. During the same period last year, the company earned $0.27 earnings per share. Gray Television’s quarterly revenue was up 52.0% compared to the same quarter last year. On average, research analysts predict that Gray Television will post 5.27 earnings per share for the current fiscal year.

In other Gray Television news, Director D Patrick Laplatney sold 60,000 shares of the business’s stock in a transaction on Monday, April 11th. The stock was sold at an average price of $20.93, for a total transaction of $1,255,800.00. Following the transaction, the director now owns 348,849 shares of the company’s stock, valued at $7,301,409.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robin Robinson Howell acquired 3,000 shares of the stock in a transaction on Wednesday, May 11th. The shares were bought at an average cost of $19.00 per share, for a total transaction of $57,000.00. Following the purchase, the director now directly owns 1,692,554 shares of the company’s stock, valued at approximately $32,158,526. The disclosure for this purchase can be found here. Insiders sold 138,373 shares of company stock worth $2,931,761 over the last ninety days. Corporate insiders own 4.80% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Diversified Trust Co raised its position in Gray Television by 8.2% in the fourth quarter. Diversified Trust Co now owns 10,306 shares of the company’s stock valued at $208,000 after purchasing an additional 782 shares during the period. Hussman Strategic Advisors Inc. raised its holdings in shares of Gray Television by 0.6% in the 4th quarter. Hussman Strategic Advisors Inc. now owns 156,000 shares of the company’s stock valued at $3,145,000 after buying an additional 1,000 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of Gray Television by 6.7% in the 1st quarter. Teacher Retirement System of Texas now owns 16,314 shares of the company’s stock valued at $360,000 after buying an additional 1,022 shares during the period. Guggenheim Capital LLC raised its holdings in shares of Gray Television by 3.8% in the 1st quarter. Guggenheim Capital LLC now owns 30,927 shares of the company’s stock valued at $683,000 after buying an additional 1,118 shares during the period. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Gray Television in the 1st quarter valued at $26,000. Institutional investors own 75.11% of the company’s stock.

Gray Television Company Profile (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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