Gray Television, Inc. (NYSE:GTN) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its holdings in Gray Television, Inc. (NYSE:GTN) by 111.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,127 shares of the company’s stock after acquiring an additional 19,026 shares during the quarter. Mackenzie Financial Corp’s holdings in Gray Television were worth $324,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GTN. DekaBank Deutsche Girozentrale bought a new position in shares of Gray Television in the third quarter valued at approximately $41,000. Sonora Investment Management Group LLC bought a new position in shares of Gray Television in the third quarter valued at $73,000. Oak Thistle LLC purchased a new position in Gray Television in the 3rd quarter worth about $74,000. AE Wealth Management LLC purchased a new position in shares of Gray Television in the third quarter worth approximately $76,000. Finally, SG Americas Securities LLC acquired a new position in Gray Television in the 4th quarter worth approximately $109,000. 78.64% of the stock is owned by institutional investors and hedge funds.

Gray Television Stock Down 2.8 %

Gray Television stock opened at $5.61 on Friday. The firm has a market cap of $545.29 million, a price-to-earnings ratio of -4.04, a P/E/G ratio of 0.15 and a beta of 1.57. The firm has a fifty day moving average price of $6.04 and a two-hundred day moving average price of $7.39. Gray Television, Inc. has a fifty-two week low of $5.44 and a fifty-two week high of $10.69. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.18 and a quick ratio of 1.18.

Gray Television (NYSE:GTN) last posted its quarterly earnings data 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). Gray Television had a negative return on equity of 3.76% and a negative net margin of 2.32%. The business had revenue of $864.00 million for the quarter, compared to analyst estimates of $863.31 million. During the same period in the prior year, the firm posted $1.88 EPS. Gray Television’s revenue for the quarter was down 19.4% on a year-over-year basis. As a group, analysts forecast that Gray Television, Inc. will post 3.78 earnings per share for the current year.

Gray Television Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 5.70%. Gray Television’s dividend payout ratio is -23.02%.

Insider Transactions at Gray Television

In related news, CEO Hilton H. Howell, Jr. bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was purchased at an average cost of $8.09 per share, for a total transaction of $80,900.00. Following the purchase, the chief executive officer now directly owns 2,982,386 shares in the company, valued at $24,127,502.74. The purchase was disclosed in a filing with the SEC, which is available through this link. 4.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

About Gray Television

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.