Barclays PLC Acquires 145,263 Shares of Gray Television, Inc. (NYSE:GTN)

Barclays PLC grew its stake in shares of Gray Television, Inc. (NYSE:GTN) by 114.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 272,272 shares of the company’s stock after buying an additional 145,263 shares during the quarter. Barclays PLC’s holdings in Gray Television were worth $1,460,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Management Corp VA boosted its holdings in Gray Television by 27.6% during the 3rd quarter. Capital Management Corp VA now owns 5,408,269 shares of the company’s stock valued at $28,988,000 after acquiring an additional 1,170,990 shares during the period. GSA Capital Partners LLP increased its stake in Gray Television by 287.9% in the 3rd quarter. GSA Capital Partners LLP now owns 232,832 shares of the company’s stock worth $1,248,000 after purchasing an additional 172,801 shares during the period. Sanctuary Advisors LLC bought a new stake in Gray Television in the second quarter valued at approximately $881,000. Squarepoint Ops LLC boosted its stake in shares of Gray Television by 454.2% during the second quarter. Squarepoint Ops LLC now owns 142,541 shares of the company’s stock valued at $741,000 after purchasing an additional 116,821 shares during the period. Finally, Susquehanna Fundamental Investments LLC grew its holdings in shares of Gray Television by 59.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 274,944 shares of the company’s stock worth $1,430,000 after purchasing an additional 102,056 shares during the last quarter. 78.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GTN has been the subject of a number of recent analyst reports. Guggenheim lowered their price target on shares of Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Barrington Research raised shares of Gray Television to a “hold” rating in a research note on Thursday, November 14th. StockNews.com raised Gray Television from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Benchmark lowered their price target on Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $6.67.

Gray Television Stock Down 3.5 %

Shares of NYSE GTN opened at $3.01 on Friday. The firm has a fifty day simple moving average of $4.45 and a two-hundred day simple moving average of $4.93. Gray Television, Inc. has a 12 month low of $2.91 and a 12 month high of $10.07. 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 $300.00 million, a PE ratio of 2.01, a price-to-earnings-growth ratio of 0.14 and a beta of 1.36.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Friday, November 8th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.08). Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The company had revenue of $950.00 million during the quarter, compared to the consensus estimate of $967.49 million. Gray Television’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.57) earnings per share. Equities analysts expect that Gray Television, Inc. will post 2.88 earnings per share for the current year.

Gray Television Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 10.63%. The ex-dividend date is Friday, December 13th. Gray Television’s payout ratio is presently 21.33%.

Insider Activity at Gray Television

In related news, EVP Kevin Paul Latek sold 150,216 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $4.37, for a total value of $656,443.92. Following the completion of the transaction, the executive vice president now directly owns 509,212 shares in the company, valued at $2,225,256.44. This trade represents a 22.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.80% of the stock is currently owned by corporate insiders.

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.