JPMorgan Chase & Co. increased its position in shares of Gray Television Inc. (NYSE:GTN) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 550,210 shares of the company’s stock after buying an additional 8,310 shares during the period. JPMorgan Chase & Co. owned 0.77% of Gray Television worth $5,970,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the stock. American Century Companies Inc. acquired a new position in Gray Television during the second quarter valued at $12,499,000. Calixto Global Investors LP raised its position in shares of Gray Television by 137.8% in the first quarter. Calixto Global Investors LP now owns 1,851,713 shares of the company’s stock worth $21,702,000 after buying an additional 1,072,891 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of Gray Television by 15.3% in the second quarter. Neuberger Berman Group LLC now owns 5,141,017 shares of the company’s stock worth $55,780,000 after buying an additional 682,000 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Gray Television by 75.2% in the second quarter. Bank of New York Mellon Corp now owns 1,553,300 shares of the company’s stock worth $16,853,000 after buying an additional 666,644 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of Gray Television during the second quarter worth approximately $5,514,000. Institutional investors own 86.57% of the company’s stock.
Gray Television Inc. (NYSE:GTN) traded down 2.17% during midday trading on Tuesday, hitting $9.90. 115,393 shares of the stock traded hands. The company has a 50-day moving average of $10.73 and a 200-day moving average of $11.33. The stock has a market cap of $711.59 million, a PE ratio of 14.80 and a beta of 2.99. Gray Television Inc. has a 1-year low of $9.15 and a 1-year high of $17.70.
Gray Television (NYSE:GTN) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.25 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. The firm had revenue of $196.60 million for the quarter, compared to analyst estimates of $196.25 million. Gray Television had a net margin of 6.98% and a return on equity of 12.58%. The company’s revenue for the quarter was up 37.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 EPS. On average, equities analysts expect that Gray Television Inc. will post $1.43 EPS for the current fiscal year.
GTN has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Gray Television from a “sell” rating to a “hold” rating in a report on Monday, September 5th. Wells Fargo & Co. reiterated a “buy” rating on shares of Gray Television in a report on Monday, September 26th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $18.75.
Gray Television Company Profile
Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in markets across the United States. The Company owns and/or operates television stations in approximately 50 television markets broadcasting over 180 separate programming streams, including approximately 40 affiliates of the CBS Network (CBS), over 30 affiliates of the NBC Network (NBC), approximately 20 affiliates of the ABC Network (ABC) and over 10 affiliates of the FOX Network (FOX).
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