Great West Life Assurance Co. Can purchased a new stake in Gray Television, Inc. (NYSE:GTN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,622 shares of the company’s stock, valued at approximately $375,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of GTN. Waratah Capital Advisors Ltd. acquired a new stake in Gray Television in the third quarter valued at $729,000. Russell Investments Group Ltd. raised its holdings in Gray Television by 153.1% in the third quarter. Russell Investments Group Ltd. now owns 64,542 shares of the company’s stock valued at $1,051,000 after acquiring an additional 39,037 shares in the last quarter. State Street Corp raised its holdings in Gray Television by 2.3% in the third quarter. State Street Corp now owns 1,828,218 shares of the company’s stock valued at $29,837,000 after acquiring an additional 40,680 shares in the last quarter. California State Teachers Retirement System raised its holdings in Gray Television by 1.2% in the third quarter. California State Teachers Retirement System now owns 141,889 shares of the company’s stock valued at $2,316,000 after acquiring an additional 1,677 shares in the last quarter. Finally, Granahan Investment Management Inc. MA raised its holdings in Gray Television by 837.9% in the third quarter. Granahan Investment Management Inc. MA now owns 241,218 shares of the company’s stock valued at $3,937,000 after acquiring an additional 215,499 shares in the last quarter. 85.38% of the stock is currently owned by hedge funds and other institutional investors.
GTN stock opened at $12.15 on Thursday. The company has a debt-to-equity ratio of 2.56, a current ratio of 2.73 and a quick ratio of 2.73. Gray Television, Inc. has a 1-year low of $8.53 and a 1-year high of $25.31. The firm has a fifty day moving average price of $16.88 and a two-hundred day moving average price of $18.41. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 0.36 and a beta of 1.91.
Gray Television (NYSE:GTN) last released its earnings results on Thursday, February 27th. The company reported $0.81 earnings per share for the quarter, beating the 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 firm had revenue of $579.00 million during the quarter, compared to analyst estimates of $555.78 million. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The firm’s revenue for the quarter was up 76.5% compared to the same quarter last year. As a group, analysts expect that Gray Television, Inc. will post 3.05 EPS for the current fiscal year.
GTN has been the subject of several recent research reports. Barrington Research reiterated a “buy” rating and set a $30.00 target price on shares of Gray Television in a research note on Wednesday, March 4th. Zacks Investment Research upgraded shares of Gray Television from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Friday, March 13th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Gray Television currently has an average rating of “Buy” and an average target price of $22.25.
Gray Television 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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