XTX Topco Ltd Sells 4,227 Shares of Gray Television, Inc. (NYSE:GTN)

XTX Topco Ltd cut its holdings in shares of Gray Television, Inc. (NYSE:GTN) by 21.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,393 shares of the company’s stock after selling 4,227 shares during the quarter. XTX Topco Ltd’s holdings in Gray Television were worth $80,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in Gray Television during the 1st quarter worth $25,000. nVerses Capital LLC acquired a new stake in shares of Gray Television during the 2nd quarter worth $27,000. CWM LLC increased its position in shares of Gray Television by 733.1% in the second quarter. CWM LLC now owns 7,448 shares of the company’s stock worth $39,000 after purchasing an additional 6,554 shares during the period. HBK Sorce Advisory LLC acquired a new position in Gray Television in the second quarter valued at about $58,000. Finally, Choreo LLC bought a new stake in Gray Television during the second quarter worth about $60,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on GTN shares. Benchmark decreased their target price on shares of Gray Television from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Guggenheim lowered their price objective on shares of Gray Television from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company reduced their target price on Gray Television from $6.00 to $4.00 and set an “underweight” rating on the stock in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Gray Television presently has a consensus rating of “Hold” and a consensus target price of $8.33.

Gray Television Price Performance

GTN stock opened at $5.39 on Wednesday. The stock has a market cap of $534.35 million, a price-to-earnings ratio of -44.92, a P/E/G ratio of 0.10 and a beta of 1.49. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.63 and a quick ratio of 1.63. The company has a 50 day simple moving average of $5.11 and a 200 day simple moving average of $5.52. Gray Television, Inc. has a 1 year low of $4.15 and a 1 year high of $10.07.

Gray Television (NYSE:GTN) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). Gray Television had a return on equity of 3.02% and a net margin of 1.84%. The company had revenue of $826.00 million for the quarter, compared to analyst estimates of $840.33 million. During the same quarter last year, the company posted ($0.10) earnings per share. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. Research analysts anticipate that Gray Television, Inc. will post 4.97 EPS for the current fiscal year.

Gray Television Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date of this dividend was Friday, September 13th. Gray Television’s payout ratio is -266.67%.

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.