Jane Street Group LLC Has $1.19 Million Position in Gray Television, Inc. (NYSE:GTN)

Jane Street Group LLC increased its stake in shares of Gray Television, Inc. (NYSE:GTN) by 91.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 376,697 shares of the company’s stock after acquiring an additional 180,001 shares during the period. Jane Street Group LLC owned about 0.38% of Gray Television worth $1,187,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GTN. Voleon Capital Management LP acquired a new stake in Gray Television in the 4th quarter valued at approximately $32,000. Boothbay Fund Management LLC acquired a new stake in Gray Television in the 4th quarter valued at $34,000. Federated Hermes Inc. increased its stake in Gray Television by 214,100.0% in the 4th quarter. Federated Hermes Inc. now owns 12,852 shares of the company’s stock valued at $40,000 after buying an additional 12,846 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Gray Television in the 4th quarter valued at $43,000. Finally, RPO LLC acquired a new stake in Gray Television in the 4th quarter valued at $46,000. 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, Director Richard Lee Boger sold 16,000 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 55,347 shares of the company’s stock, valued at $213,085.95. This represents a 22.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 15.22% of the company’s stock.

Analyst Ratings Changes

GTN has been the topic of several recent analyst reports. Guggenheim lowered their price target on Gray Television from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Wells Fargo & Company boosted their price target on Gray Television from $4.00 to $4.50 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. StockNews.com lowered Gray Television from a “hold” rating to a “sell” rating in a research report on Monday, May 12th. Finally, Benchmark lowered 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 note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.17.

Gray Television Stock Up 2.5%

GTN stock opened at $4.04 on Wednesday. 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 firm has a market capitalization of $410.23 million, a PE ratio of 2.69 and a beta of 1.15. Gray Television, Inc. has a 1-year low of $2.91 and a 1-year high of $6.61. The business’s 50 day simple moving average is $3.95 and its 200 day simple moving average is $3.91.

Gray Television (NYSE:GTN) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The business had revenue of $782.00 million for the quarter, compared to analyst estimates of $772.71 million. During the same quarter in the prior year, the business earned $0.79 EPS. Gray Television’s quarterly revenue was down 5.0% on a year-over-year basis. As a group, research analysts anticipate that Gray Television, Inc. will post 3.32 EPS for the current year.

Gray Television Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 7.92%. The ex-dividend date is Friday, June 13th. Gray Television’s dividend payout ratio is 13.85%.

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.