Gray Television, Inc. (NYSE:GTN) Director Sells $61,600.00 in Stock

Gray Television, Inc. (NYSE:GTN) Director Richard Lee Boger sold 16,000 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $3.85, for a total transaction of $61,600.00. Following the transaction, the director now directly owns 55,347 shares of the company’s stock, valued at $213,085.95. This represents a 22.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Gray Television Stock Down 3.9 %

Gray Television stock opened at $3.55 on Wednesday. Gray Television, Inc. has a fifty-two week low of $2.91 and a fifty-two week high of $7.41. The firm has a market capitalization of $353.32 million, a price-to-earnings ratio of 2.36 and a beta of 1.41. The stock’s fifty day moving average is $3.63 and its two-hundred day moving average is $4.42. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.13 and a current ratio of 1.13.

Gray Television (NYSE:GTN) last issued its quarterly earnings data on Thursday, February 27th. The company reported $1.59 EPS for the quarter, meeting analysts’ consensus estimates of $1.59. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Analysts predict that Gray Television, Inc. will post 3.32 EPS for the current fiscal year.

Gray Television Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 9.03%. Gray Television’s dividend payout ratio (DPR) is 9.61%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Guggenheim cut their target price on Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. StockNews.com upgraded Gray Television from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Benchmark reduced their target price on Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a report on Monday, November 11th. Wells Fargo & Company raised shares of Gray Television from an “underweight” rating to an “equal weight” rating and set a $4.00 price target on the stock in a research note on Monday. Finally, Barrington Research upgraded shares of Gray Television to a “hold” rating in a research note on Thursday, November 14th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $6.67.

Institutional Investors Weigh In On Gray Television

Institutional investors and hedge funds have recently bought and sold shares of the stock. Voleon Capital Management LP purchased a new position in Gray Television during the fourth quarter worth $32,000. Ameriprise Financial Inc. acquired a new position in Gray Television in the 4th quarter valued at about $33,000. Boothbay Fund Management LLC acquired a new position in Gray Television in the 4th quarter valued at about $34,000. Federated Hermes Inc. lifted its holdings in Gray Television by 214,100.0% in the 4th quarter. Federated Hermes Inc. now owns 12,852 shares of the company’s stock valued at $40,000 after purchasing an additional 12,846 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Gray Television during the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

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.