Redwood Investments LLC raised its stake in shares of Gray Television Inc. (NYSE:GTN) by 15.7% during the second quarter, Holdings Channel reports. The firm owned 320,925 shares of the company’s stock after buying an additional 43,483 shares during the period. Redwood Investments LLC’s holdings in Gray Television were worth $3,482,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in GTN. Calixto Global Investors LP raised its stake 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 during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Gray Television by 5.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,745,794 shares of the company’s stock worth $20,461,000 after buying an additional 87,937 shares during the last quarter. American Century Companies Inc. purchased a new stake in shares of Gray Television during the second quarter worth approximately $12,499,000. Teachers Advisors Inc. raised its stake in shares of Gray Television by 30.4% in the first quarter. Teachers Advisors Inc. now owns 1,064,288 shares of the company’s stock worth $12,473,000 after buying an additional 248,253 shares during the last quarter. Finally, Hancock Holding Co. raised its stake in shares of Gray Television by 0.8% in the first quarter. Hancock Holding Co. now owns 767,817 shares of the company’s stock worth $8,999,000 after buying an additional 6,367 shares during the last quarter. 86.57% of the stock is currently owned by institutional investors and hedge funds.
Shares of Gray Television Inc. (NYSE:GTN) traded up 1.21% during trading on Wednesday, hitting $10.84. The stock had a trading volume of 782,457 shares. Gray Television Inc. has a 52 week low of $9.15 and a 52 week high of $17.70. The firm has a 50-day moving average price of $10.84 and a 200 day moving average price of $11.36. The company has a market capitalization of $779.16 million, a PE ratio of 16.20 and a beta of 2.99.
Gray Television (NYSE:GTN) last announced its earnings results on Thursday, August 4th. The company reported $0.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.25. The business had revenue of $196.60 million for the quarter, compared to analyst estimates of $196.25 million. Gray Television had a return on equity of 12.58% and a net margin of 6.98%. The company’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.17 EPS. Equities analysts anticipate that Gray Television Inc. will post $1.43 earnings per share for the current year.
A number of brokerages have recently commented on GTN. Zacks Investment Research raised Gray Television from a “strong sell” rating to a “hold” rating and set a $13.00 price target on the stock in a research note on Tuesday, July 12th. Wells Fargo & Co. reissued a “buy” rating on shares of Gray Television in a research note on Monday, September 26th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $18.75.
About Gray Television
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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