UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.13 Million Stake in Gray Television, Inc. (NYSE:GTN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Gray Television, Inc. (NYSE:GTN) by 49.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 357,198 shares of the company’s stock after buying an additional 117,827 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.36% of Gray Television worth $1,125,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital Management Corp VA increased its stake in Gray Television by 6.6% in the fourth quarter. Capital Management Corp VA now owns 5,763,336 shares of the company’s stock valued at $18,155,000 after acquiring an additional 355,067 shares during the last quarter. Miller Value Partners LLC increased its stake in Gray Television by 132.1% in the fourth quarter. Miller Value Partners LLC now owns 3,384,450 shares of the company’s stock valued at $10,661,000 after acquiring an additional 1,926,330 shares during the last quarter. Marshall Wace LLP increased its stake in Gray Television by 52.6% in the fourth quarter. Marshall Wace LLP now owns 1,161,862 shares of the company’s stock valued at $3,660,000 after acquiring an additional 400,274 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Gray Television by 10.1% in 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 during the last quarter. Finally, Northern Trust Corp increased its stake in Gray Television by 7.8% in the fourth quarter. Northern Trust Corp now owns 846,849 shares of the company’s stock valued at $2,668,000 after acquiring an additional 61,562 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Gray Television Stock Performance

NYSE GTN opened at $3.96 on Tuesday. Gray Television, Inc. has a 1 year low of $2.91 and a 1 year high of $6.61. 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 PE ratio of 2.64 and a beta of 1.16. The company’s 50 day simple moving average is $3.73 and its two-hundred day simple moving average is $3.82.

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

Gray Television Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 8.09%. The ex-dividend date is Friday, June 13th. Gray Television’s payout ratio is 13.85%.

Analyst Ratings Changes

GTN has been the topic of a number of research reports. Wells Fargo & Company boosted their target price on shares of Gray Television from $4.00 to $4.50 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. Guggenheim decreased their target price on shares of Gray Television from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Benchmark decreased their target price 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. Finally, Wall Street Zen cut shares of Gray Television from a “hold” rating to a “sell” rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $6.17.

Insider Activity

In other news, CFO Jeffrey R. Gignac bought 12,500 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was acquired at an average cost of $3.68 per share, with a total value of $46,000.00. Following the completion of the acquisition, the chief financial officer now owns 644,599 shares of the company’s stock, valued at approximately $2,372,124.32. This represents a 1.98% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.