Gray Television, Inc. (NYSE:GTN) Director Richard Lee Boger Sells 16,000 Shares

Gray Television, Inc. (NYSE:GTN) Director Richard Lee Boger sold 16,000 shares of the firm’s stock in a transaction that occurred on 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 approximately $213,085.95. This trade represents a 22.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Gray Television Stock Performance

Shares of NYSE:GTN traded down $0.15 during trading hours on Tuesday, hitting $3.55. The stock had a trading volume of 1,486,865 shares, compared to its average volume of 1,370,509. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.13 and a current ratio of 1.13. The stock’s fifty day simple moving average is $3.63 and its 200 day simple moving average is $4.42. The firm has a market capitalization of $353.32 million, a price-to-earnings ratio of 2.36 and a beta of 1.41. Gray Television, Inc. has a 1-year low of $2.91 and a 1-year high of $7.41.

Gray Television (NYSE:GTN) last posted its quarterly earnings data on Thursday, February 27th. The company reported $1.59 earnings per share for the quarter, hitting the consensus estimate of $1.59. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. Sell-side analysts anticipate that Gray Television, Inc. will post 3.32 earnings per share for the current fiscal year.

Gray Television Dividend Announcement

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Gray Television

Hedge funds have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Gray Television by 1.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,371 shares of the company’s stock valued at $1,283,000 after buying an additional 2,654 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Gray Television by 30.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 14,146 shares of the company’s stock valued at $45,000 after purchasing an additional 3,262 shares in the last quarter. Mariner LLC lifted its stake in Gray Television by 18.7% during the fourth quarter. Mariner LLC now owns 21,740 shares of the company’s stock valued at $68,000 after purchasing an additional 3,419 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in Gray Television by 1.1% during the fourth quarter. Nuveen Asset Management LLC now owns 336,905 shares of the company’s stock worth $1,061,000 after buying an additional 3,737 shares in the last quarter. Finally, Quadrature Capital Ltd grew its position in Gray Television by 27.4% in the third quarter. Quadrature Capital Ltd now owns 19,006 shares of the company’s stock worth $102,000 after buying an additional 4,083 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

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.