Brokerages Set Gray Television, Inc. (NYSE:GTN) PT at $6.67

Gray Television, Inc. (NYSE:GTN) has earned an average rating of “Moderate Buy” from the five analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $6.67.

A number of research analysts have commented on the stock. StockNews.com raised shares of Gray Television from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Guggenheim reduced their target price on 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 upgraded Gray Television to a “hold” rating in a research note on Thursday, November 14th. Finally, Benchmark lowered their target price on shares of Gray Television from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, November 11th.

Insider Buying and Selling

In other news, EVP Kevin Paul Latek sold 150,216 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $4.37, for a total transaction of $656,443.92. Following the transaction, the executive vice president now owns 509,212 shares in the company, valued at $2,225,256.44. This represents a 22.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Gray Television

A number of institutional investors and hedge funds have recently bought and sold shares of GTN. 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 worth $450,000 after acquiring an additional 6,498 shares during the last quarter. Empowered Funds LLC increased its position in shares of Gray Television by 5.2% in the 4th quarter. Empowered Funds LLC now owns 432,686 shares of the company’s stock valued at $1,363,000 after buying an additional 21,237 shares in the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of Gray Television during the fourth quarter worth $340,000. Choreo LLC raised its position in Gray Television by 60.0% in the 4th quarter. Choreo LLC now owns 26,827 shares of the company’s stock valued at $81,000 after buying an additional 10,058 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC increased its stake in Gray Television by 15.8% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 108,796 shares of the company’s stock valued at $343,000 after buying an additional 14,871 shares during the last quarter. Institutional investors own 78.64% of the company’s stock.

Gray Television Stock Performance

Shares of NYSE:GTN opened at $3.72 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.76. The company has a market capitalization of $370.27 million, a price-to-earnings ratio of 2.48 and a beta of 1.39. The firm has a 50 day moving average of $3.62 and a 200 day moving average of $4.67. Gray Television has a 52 week low of $2.91 and a 52 week high of $9.95.

Gray Television (NYSE:GTN) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.08). The company had revenue of $950.00 million for the quarter, compared to analyst estimates of $967.49 million. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. Gray Television’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.57) earnings per share. On average, sell-side analysts predict that Gray Television will post 3.06 earnings per share for the current fiscal year.

Gray Television Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a yield of 8.61%. Gray Television’s payout ratio is currently 21.33%.

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.