Barclays PLC Has $940,000 Stock Position in Gray Television, Inc. (NYSE:GTN)

Barclays PLC boosted its holdings in shares of Gray Television, Inc. (NYSE:GTN) by 9.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 298,486 shares of the company’s stock after acquiring an additional 26,214 shares during the quarter. Barclays PLC owned 0.30% of Gray Television worth $940,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of GTN. Capital Management Corp VA boosted its holdings in shares of Gray Television by 6.6% during the fourth quarter. Capital Management Corp VA now owns 5,763,336 shares of the company’s stock worth $18,155,000 after purchasing an additional 355,067 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Gray Television by 10.1% during the 4th quarter. Bank of New York Mellon Corp now owns 970,615 shares of the company’s stock valued at $3,057,000 after buying an additional 89,385 shares during the period. Franklin Resources Inc. grew its holdings in shares of Gray Television by 5.5% during the 3rd 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 in the last quarter. Norges Bank acquired a new position in shares of Gray Television in the fourth quarter worth $2,170,000. Finally, Empowered Funds LLC raised its holdings in shares of Gray Television by 5.2% during the fourth quarter. Empowered Funds LLC now owns 432,686 shares of the company’s stock worth $1,363,000 after acquiring an additional 21,237 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on GTN. Wells Fargo & Company raised Gray Television from an “underweight” rating to an “equal weight” rating and set a $4.00 target price on the stock in a research report on Monday, March 3rd. Guggenheim cut their price objective on shares of Gray Television from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Gray Television currently has a consensus rating of “Moderate Buy” and an average price target of $6.33.

Gray Television Price Performance

Shares of NYSE:GTN opened at $3.96 on Tuesday. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $401.60 million, a P/E ratio of 2.64 and a beta of 1.15. The business has a 50-day moving average of $3.87 and a two-hundred day moving average of $4.01. Gray Television, Inc. has a fifty-two week low of $2.91 and a fifty-two week high of $7.41.

Gray Television (NYSE:GTN) last posted its earnings results on Thursday, February 27th. The company reported $1.59 earnings per share for the quarter, hitting the consensus estimate of $1.59. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. On average, equities research analysts predict that Gray Television, Inc. will post 3.32 EPS for the current fiscal year.

Gray Television Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 8.09%. Gray Television’s payout ratio is presently 9.61%.

Insider Buying and Selling

In other Gray Television news, Director Richard Lee Boger sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $3.85, for a total value of $61,600.00. Following the sale, the director now owns 55,347 shares of the company’s stock, valued at $213,085.95. This trade represents a 22.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 15.22% of the company’s stock.

Gray Television Company 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.