Skylands Capital LLC acquired a new position in Gray Television, Inc. (NYSE:GTN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 38,000 shares of the company’s stock, valued at approximately $521,000. Skylands Capital LLC owned approximately 0.06% of Gray Television at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of GTN. FMR LLC increased its position in Gray Television by 23.6% in the first quarter. FMR LLC now owns 3,858,697 shares of the company’s stock worth $55,951,000 after buying an additional 737,600 shares in the last quarter. Hancock Holding Co. acquired a new position in Gray Television during the first quarter worth about $10,014,000. Neuberger Berman Group LLC increased its position in Gray Television by 13.3% in the first quarter. Neuberger Berman Group LLC now owns 5,794,462 shares of the company’s stock worth $84,020,000 after buying an additional 678,295 shares in the last quarter. Gotham Asset Management LLC increased its stake in shares of Gray Television by 336.6% in the first quarter. Gotham Asset Management LLC now owns 362,867 shares of the company’s stock valued at $5,262,000 after buying an additional 279,753 shares during the period. Finally, SkyTop Capital Management LLC increased its stake in shares of Gray Television by 60.0% in the first quarter. SkyTop Capital Management LLC now owns 650,000 shares of the company’s stock valued at $9,425,000 after buying an additional 243,814 shares during the period. Institutional investors and hedge funds own 86.08% of the company’s stock.
Shares of Gray Television, Inc. (NYSE:GTN) traded down 1.77% during trading on Friday, reaching $13.85. 1,232,409 shares of the company’s stock were exchanged. The stock has a market capitalization of $992.14 million, a price-to-earnings ratio of 8.61 and a beta of 3.28. Gray Television, Inc. has a 52 week low of $7.00 and a 52 week high of $15.45. The stock has a 50 day moving average price of $14.27 and a 200-day moving average price of $13.66.
Gray Television (NYSE:GTN) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The business had revenue of $226.70 million during the quarter, compared to analysts’ expectations of $221.05 million. Gray Television had a return on equity of 52.60% and a net margin of 31.13%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 EPS. Analysts predict that Gray Television, Inc. will post $1.61 earnings per share for the current year.
Several brokerages have weighed in on GTN. BidaskClub raised shares of Gray Television from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $18.00 price target (up previously from $15.50) on shares of Gray Television in a report on Thursday, August 10th. Royal Bank Of Canada set a $16.00 target price on shares of Gray Television and gave the stock a “buy” rating in a report on Tuesday, July 18th. Finally, Benchmark Co. reissued a “buy” rating and set a $19.00 target price on shares of Gray Television in a report on Monday, May 15th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Gray Television currently has a consensus rating of “Buy” and an average target price of $17.00.
Gray Television Company Profile
Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in various markets across the United States. As of February 21, 2017, the Company owned and/or operated television stations in 54 television markets broadcasting over 200 separate programming streams, including 37 affiliates of the CBS Network (CBS), 29 affiliates of the NBC Network (NBC), 20 affiliates of the ABC Network (ABC) and 15 affiliates of the FOX Network (FOX).
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