Mariner LLC Purchases 3,419 Shares of Gray Television, Inc. (NYSE:GTN)

Mariner LLC grew its position in Gray Television, Inc. (NYSE:GTN) by 18.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,740 shares of the company’s stock after buying an additional 3,419 shares during the period. Mariner LLC’s holdings in Gray Television were worth $68,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GTN. Norges Bank purchased a new stake in Gray Television during the 4th quarter worth approximately $2,170,000. ExodusPoint Capital Management LP acquired a new position in shares of Gray Television in the 4th quarter valued at $1,261,000. Capital Management Corp VA lifted its position in Gray Television by 6.6% during the 4th quarter. Capital Management Corp VA now owns 5,763,336 shares of the company’s stock worth $18,155,000 after acquiring an additional 355,067 shares during the period. EntryPoint Capital LLC grew its stake in Gray Television by 925.7% during the 4th quarter. EntryPoint Capital LLC now owns 169,670 shares of the company’s stock valued at $534,000 after purchasing an additional 153,128 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Gray Television by 114.4% in the third quarter. Barclays PLC now owns 272,272 shares of the company’s stock valued at $1,460,000 after purchasing an additional 145,263 shares during the period. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Gray Television Stock Up 16.3 %

Shares of NYSE:GTN opened at $4.33 on Friday. The business has a 50-day moving average price of $3.88 and a 200 day moving average price of $4.00. Gray Television, Inc. has a 12-month low of $2.91 and a 12-month high of $7.28. 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 market capitalization of $439.17 million, a price-to-earnings ratio of 2.88 and a beta of 1.15.

Gray Television (NYSE:GTN) last announced its earnings results on Thursday, May 8th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.26. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The firm had revenue of $782.00 million for the quarter, compared to the consensus estimate of $772.71 million. During the same period in the prior year, the firm earned $0.79 EPS. The firm’s revenue for the quarter was down 5.0% on a year-over-year basis. Sell-side analysts expect that Gray Television, Inc. will post 3.32 EPS for the current year.

Gray Television Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 7.40%. The ex-dividend date of this dividend was Friday, March 14th. Gray Television’s payout ratio is currently 9.61%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Benchmark decreased their target price on shares of Gray Television from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday. Wells Fargo & Company upgraded Gray Television from an “underweight” rating to an “equal weight” rating and set a $4.00 target price on the stock in a research note on Monday, March 3rd. Finally, 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 and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.00.

Insider Activity at Gray Television

In other Gray Television news, Director Richard Lee Boger sold 16,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $3.85, for a total value of $61,600.00. Following the transaction, the director now directly owns 55,347 shares of the company’s stock, valued at approximately $213,085.95. The trade was a 22.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 15.22% of the company’s stock.

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.