Goldman Sachs Group Inc. Reduces Stock Position in Gray Television, Inc. (NYSE:GTN)

Goldman Sachs Group Inc. lowered its position in shares of Gray Television, Inc. (NYSE:GTN) by 22.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,008,213 shares of the company’s stock after selling 575,466 shares during the period. Goldman Sachs Group Inc. owned about 2.00% of Gray Television worth $43,056,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Emerald Advisers LLC purchased a new stake in Gray Television during the 4th quarter valued at $72,000. Emerald Mutual Fund Advisers Trust bought a new position in Gray Television in the 4th quarter worth $79,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Gray Television by 32.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,184 shares of the company’s stock worth $154,000 after purchasing an additional 1,756 shares in the last quarter. Advisor Group Inc. raised its holdings in Gray Television by 9.6% in the 4th quarter. Advisor Group Inc. now owns 8,478 shares of the company’s stock worth $182,000 after purchasing an additional 743 shares in the last quarter. Finally, Advisory Services Network LLC raised its holdings in Gray Television by 841.3% in the 4th quarter. Advisory Services Network LLC now owns 9,413 shares of the company’s stock worth $202,000 after purchasing an additional 8,413 shares in the last quarter. 85.38% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE GTN opened at $12.15 on Thursday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 2.56. Gray Television, Inc. has a 12 month low of $8.53 and a 12 month high of $25.31. The firm has a market capitalization of $1.11 billion, a PE ratio of 9.57, a price-to-earnings-growth ratio of 0.36 and a beta of 1.91. The firm has a fifty day simple moving average of $16.88 and a two-hundred day simple moving average of $18.41.

Gray Television (NYSE:GTN) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.27. Gray Television had a net margin of 7.82% and a return on equity of 16.12%. The business had revenue of $579.00 million during the quarter, compared to analyst estimates of $555.78 million. During the same period in the prior year, the business earned $1.00 EPS. The company’s revenue for the quarter was up 76.5% on a year-over-year basis. On average, sell-side analysts predict that Gray Television, Inc. will post 3.05 earnings per share for the current year.

Several research analysts have commented on GTN shares. Zacks Investment Research upgraded shares of Gray Television from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Friday, March 13th. Barrington Research restated a “buy” rating and issued a $30.00 price objective on shares of Gray Television in a report on Wednesday, March 4th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $22.25.

Gray Television Company Profile

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.

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Institutional Ownership by Quarter for Gray Television (NYSE:GTN)

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