Raymond James Financial Services Advisors Inc. Invests $964,000 in Gray Television, Inc. (NYSE:GTN)

Raymond James Financial Services Advisors Inc. acquired a new position in shares of Gray Television, Inc. (NYSE:GTN) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 107,571 shares of the company’s stock, valued at approximately $964,000.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Gray Television by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 4,646,405 shares of the company’s stock worth $102,546,000 after buying an additional 97,570 shares during the last quarter. Darsana Capital Partners LP raised its holdings in shares of Gray Television by 336.8% in the 3rd quarter. Darsana Capital Partners LP now owns 4,000,441 shares of the company’s stock valued at $27,683,000 after purchasing an additional 3,084,578 shares during the period. Clearbridge Investments LLC raised its holdings in shares of Gray Television by 2.6% in the 1st quarter. Clearbridge Investments LLC now owns 3,328,715 shares of the company’s stock valued at $73,465,000 after purchasing an additional 84,614 shares during the period. UBS Group AG raised its holdings in shares of Gray Television by 46.1% in the 1st quarter. UBS Group AG now owns 3,063,320 shares of the company’s stock valued at $26,712,000 after purchasing an additional 966,251 shares during the period. Finally, Capital Management Corp VA raised its holdings in shares of Gray Television by 9.1% in the 3rd quarter. Capital Management Corp VA now owns 2,433,123 shares of the company’s stock valued at $16,837,000 after purchasing an additional 203,398 shares during the period. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Gray Television

In other Gray Television news, CEO Hilton H. Howell, Jr. bought 10,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were purchased at an average price of $8.09 per share, for a total transaction of $80,900.00. Following the transaction, the chief executive officer now directly owns 2,982,386 shares in the company, valued at approximately $24,127,502.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 4.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Barrington Research reaffirmed a “market perform” rating on shares of Gray Television in a report on Tuesday, February 27th. Wells Fargo & Company upped their target price on shares of Gray Television from $6.00 to $7.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $12.80.

Gray Television Stock Down 2.1 %

Gray Television stock opened at $5.56 on Monday. The stock has a market cap of $540.43 million, a P/E ratio of -4.00, a P/E/G ratio of 0.15 and a beta of 1.57. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 3.12. Gray Television, Inc. has a twelve month low of $5.44 and a twelve month high of $10.69. The company’s 50-day moving average price is $6.53 and its two-hundred day moving average price is $7.45.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Friday, February 23rd. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.08). The company had revenue of $864.00 million during the quarter, compared to the consensus estimate of $863.31 million. Gray Television had a negative net margin of 2.32% and a negative return on equity of 3.76%. The firm’s revenue was down 19.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.88 earnings per share. As a group, analysts expect that Gray Television, Inc. will post 3.78 EPS for the current year.

Gray Television Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 5.76%. Gray Television’s dividend payout ratio is currently -23.02%.

Gray Television 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.