42,500 Shares in Gray Television, Inc. (NYSE:GTN) Acquired by Two Sigma Advisers LP

Two Sigma Advisers LP acquired a new stake in Gray Television, Inc. (NYSE:GTN) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 42,500 shares of the company’s stock, valued at approximately $134,000.

A number of other institutional investors have also added to or reduced their stakes in GTN. Mariner LLC raised its stake in Gray Television by 18.7% during the fourth quarter. Mariner LLC now owns 21,740 shares of the company’s stock worth $68,000 after acquiring an additional 3,419 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Gray Television by 1.1% during the 4th quarter. Nuveen Asset Management LLC now owns 336,905 shares of the company’s stock worth $1,061,000 after purchasing an additional 3,737 shares during the period. Intech Investment Management LLC raised its stake in shares of Gray Television by 20.7% during the 4th quarter. Intech Investment Management LLC now owns 32,201 shares of the company’s stock worth $101,000 after purchasing an additional 5,528 shares during the period. Wells Fargo & Company MN raised its stake in Gray Television by 13.6% in the 4th quarter. Wells Fargo & Company MN now owns 53,242 shares of the company’s stock valued at $168,000 after acquiring an additional 6,367 shares during the period. Finally, Rhumbline Advisers grew its holdings in Gray Television by 4.8% during the 4th quarter. Rhumbline Advisers now owns 142,935 shares of the company’s stock valued at $450,000 after buying an additional 6,498 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GTN has been the subject of several research reports. Guggenheim cut their target price on Gray Television from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Wells Fargo & Company boosted their price target on Gray Television from $4.00 to $4.50 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Benchmark cut their price objective on Gray Television from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Tuesday, May 6th. Finally, Wall Street Zen cut Gray Television from a “hold” rating to a “sell” rating in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Gray Television has a consensus rating of “Hold” and an average price target of $6.17.

Gray Television Trading Up 4.3%

NYSE:GTN opened at $3.80 on Friday. Gray Television, Inc. has a 1 year low of $2.91 and a 1 year high of $6.61. The stock has a 50-day simple moving average of $3.74 and a 200-day simple moving average of $3.82. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $385.56 million, a P/E ratio of 2.53 and a beta of 1.16.

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

Gray Television Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 8.43%. The ex-dividend date is Friday, June 13th. Gray Television’s dividend payout ratio (DPR) is presently 13.85%.

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.