Susquehanna Fundamental Investments LLC Buys Shares of 172,888 Gray Television, Inc. (NYSE:GTN)

Susquehanna Fundamental Investments LLC bought a new stake in shares of Gray Television, Inc. (NYSE:GTN) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 172,888 shares of the company’s stock, valued at approximately $1,093,000. Susquehanna Fundamental Investments LLC owned about 0.18% of Gray Television at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Diversified Trust Co increased its stake in shares of Gray Television by 25.4% in the fourth quarter. Diversified Trust Co now owns 26,762 shares of the company’s stock worth $240,000 after purchasing an additional 5,414 shares in the last quarter. Range Financial Group LLC purchased a new stake in shares of Gray Television in the fourth quarter worth $198,000. SG Americas Securities LLC purchased a new stake in shares of Gray Television in the fourth quarter worth $109,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Gray Television in the fourth quarter worth $964,000. Finally, Oak Thistle LLC increased its stake in shares of Gray Television by 33.1% in the fourth quarter. Oak Thistle LLC now owns 14,293 shares of the company’s stock worth $128,000 after purchasing an additional 3,551 shares in the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GTN. Loop Capital raised shares of Gray Television to a “strong-buy” rating in a research note on Wednesday, May 8th. Benchmark increased their price objective on shares of Gray Television from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Finally, Wells Fargo & Company increased their price objective on shares of Gray Television from $5.50 to $6.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.40.

Gray Television Price Performance

Shares of NYSE:GTN traded up $0.03 during midday trading on Monday, reaching $5.18. 737,059 shares of the company were exchanged, compared to its average volume of 1,193,027. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.99. The business’s fifty day moving average is $5.63 and its two-hundred day moving average is $6.66. Gray Television, Inc. has a one year low of $4.39 and a one year high of $10.69. The stock has a market cap of $513.55 million, a PE ratio of -43.08, a price-to-earnings-growth ratio of 0.10 and a beta of 1.52.

Gray Television (NYSE:GTN) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.54 by $0.25. Gray Television had a net margin of 1.30% and a return on equity of 2.13%. The business had revenue of $823.00 million during the quarter, compared to analyst estimates of $824.98 million. During the same quarter last year, the business earned ($0.48) earnings per share. Gray Television’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, analysts predict that Gray Television, Inc. will post 5.15 earnings per share for the current year.

Gray Television Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.08 per share. The ex-dividend date was Friday, June 14th. This represents a $0.32 annualized dividend and a yield of 6.18%. Gray Television’s dividend payout ratio (DPR) is currently -266.67%.

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.