Gray Television (NYSE:GTN.A) Stock Price Down 9.2% – Here’s What Happened

Gray Television, Inc. (NYSE:GTN.A) was down 9.2% during mid-day trading on Monday . The stock traded as low as $6.88 and last traded at $6.88. Approximately 846 shares changed hands during trading, a decline of 66% from the average daily volume of 2,471 shares. The stock had previously closed at $7.58.

Gray Television Price Performance

The firm has a 50 day moving average price of $7.44 and a 200 day moving average price of $8.12. The stock has a market cap of $498.35 million, a P/E ratio of 3.33 and a beta of 1.29. The company has a quick ratio of 1.63, a current ratio of 1.13 and a debt-to-equity ratio of 2.76.

Gray Television Announces Dividend

The firm also recently disclosed 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 6.40%. The ex-dividend date of this dividend is Friday, December 13th. Gray Television’s dividend payout ratio (DPR) is 21.33%.

About Gray Television

Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 28, 2019, it owned and operated television stations in 91 television markets broadcasting approximately 400 program streams, including approximately 150 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.