Federated Hermes Inc. Has $40,000 Position in Gray Television, Inc. (NYSE:GTN)

Federated Hermes Inc. raised its stake in Gray Television, Inc. (NYSE:GTN) by 214,100.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,852 shares of the company’s stock after buying an additional 12,846 shares during the quarter. Federated Hermes Inc.’s holdings in Gray Television were worth $40,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Management Corp VA boosted its position in Gray Television by 6.6% during the fourth quarter. Capital Management Corp VA now owns 5,763,336 shares of the company’s stock valued at $18,155,000 after purchasing an additional 355,067 shares during the last quarter. State Street Corp grew its stake in shares of Gray Television by 1.9% in the 3rd quarter. State Street Corp now owns 2,009,896 shares of the company’s stock valued at $10,773,000 after buying an additional 36,541 shares in the last quarter. Geode Capital Management LLC increased its holdings in Gray Television by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,971,374 shares of the company’s stock worth $10,568,000 after buying an additional 57,481 shares during the last quarter. Bank of New York Mellon Corp raised its position in Gray Television by 10.1% during the fourth quarter. Bank of New York Mellon Corp now owns 970,615 shares of the company’s stock valued at $3,057,000 after acquiring an additional 89,385 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Gray Television by 5.5% in the third quarter. Franklin Resources Inc. now owns 696,853 shares of the company’s stock valued at $3,951,000 after acquiring an additional 36,312 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Insider Transactions at Gray Television

In related news, Director Richard Lee Boger sold 16,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $3.85, for a total transaction of $61,600.00. Following the completion of the transaction, the director now directly owns 55,347 shares in the company, valued at $213,085.95. This represents a 22.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 15.22% of the stock is currently owned by corporate insiders.

Gray Television Price Performance

NYSE GTN opened at $3.35 on Friday. The company has a market cap of $339.66 million, a P/E ratio of 2.23 and a beta of 1.08. Gray Television, Inc. has a 1 year low of $2.91 and a 1 year high of $7.41. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.76. The company has a fifty day simple moving average of $3.98 and a 200 day simple moving average of $4.19.

Gray Television (NYSE:GTN) last issued its quarterly earnings results on Thursday, February 27th. The company reported $1.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.59. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. On average, sell-side analysts predict that Gray Television, Inc. will post 3.32 EPS for the current year.

Gray Television Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 9.57%. Gray Television’s dividend payout ratio is 9.61%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GTN. Wells Fargo & Company upgraded shares of Gray Television from an “underweight” rating to an “equal weight” rating and set a $4.00 price target on the stock in a report on Monday, March 3rd. Guggenheim reduced their price target on Gray Television from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $6.33.

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.