Gray Television, Inc. (NYSE:GTN) EVP Sells $656,443.92 in Stock

Gray Television, Inc. (NYSE:GTN) EVP Kevin Paul Latek sold 150,216 shares of Gray Television stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $4.37, for a total value of $656,443.92. Following the sale, the executive vice president now directly owns 509,212 shares in the company, valued at approximately $2,225,256.44. The trade was a 22.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Gray Television Stock Down 0.8 %

Gray Television stock traded down $0.04 during trading hours on Tuesday, hitting $4.34. The stock had a trading volume of 1,311,450 shares, compared to its average volume of 1,275,569. The stock’s 50-day moving average price is $5.15 and its 200-day moving average price is $5.22. Gray Television, Inc. has a 12-month low of $3.95 and a 12-month high of $10.07. 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 stock has a market capitalization of $432.07 million, a P/E ratio of 2.89, a price-to-earnings-growth ratio of 0.15 and a beta of 1.36.

Gray Television (NYSE:GTN) last posted 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). Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The business had revenue of $950.00 million during the quarter, compared to analysts’ expectations of $967.49 million. During the same quarter in the prior year, the firm earned ($0.57) EPS. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. Equities research analysts anticipate that Gray Television, Inc. will post 2.88 EPS for the current fiscal year.

Gray Television Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 7.38%. Gray Television’s payout ratio is 21.33%.

Institutional Investors Weigh In On Gray Television

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Gray Television by 9.8% in the first quarter. Vanguard Group Inc. now owns 5,662,398 shares of the company’s stock worth $35,786,000 after buying an additional 506,106 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Gray Television by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 91,405 shares of the company’s stock valued at $578,000 after purchasing an additional 3,068 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Gray Television in the 1st quarter worth $243,000. CWM LLC increased its holdings in shares of Gray Television by 733.1% in the 2nd quarter. CWM LLC now owns 7,448 shares of the company’s stock worth $39,000 after buying an additional 6,554 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC raised its position in shares of Gray Television by 10.2% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 79,433 shares of the company’s stock valued at $413,000 after buying an additional 7,358 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GTN. Guggenheim decreased their price objective on Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. StockNews.com raised shares of Gray Television from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company cut their price objective on shares of Gray Television from $6.00 to $4.00 and set an “underweight” rating on the stock in a report on Friday, August 9th. Benchmark dropped their price target on Gray Television from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Finally, Barrington Research raised Gray Television to a “hold” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.67.

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.