Trexquant Investment LP bought a new stake in Gray Television, Inc. (NYSE:GTN) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 57,580 shares of the company’s stock, valued at approximately $835,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. UBS Oconnor LLC boosted its position in shares of Gray Television by 699.6% in the third quarter. UBS Oconnor LLC now owns 2,910,861 shares of the company’s stock valued at $30,157,000 after buying an additional 2,546,804 shares during the period. Whetstone Capital Advisors LLC raised its position in Gray Television by 15.3% in the fourth quarter. Whetstone Capital Advisors LLC now owns 1,719,920 shares of the company’s stock valued at $18,661,000 after buying an additional 228,475 shares in the last quarter. State Street Corp raised its position in Gray Television by 0.7% in the fourth quarter. State Street Corp now owns 1,246,593 shares of the company’s stock valued at $13,528,000 after buying an additional 8,977 shares in the last quarter. Scopus Asset Management L.P. bought a new position in Gray Television during the third quarter valued at about $8,319,000. Finally, Sound Point Capital Management LP bought a new position in Gray Television during the fourth quarter valued at about $6,816,000. 82.70% of the stock is owned by hedge funds and other institutional investors.
Gray Television, Inc. (NYSE:GTN) traded up 2.86% on Friday, reaching $12.60. The company’s stock had a trading volume of 1,081,990 shares. The company has a 50-day moving average price of $13.95 and a 200 day moving average price of $12.07. The company has a market cap of $906.66 million, a P/E ratio of 14.32 and a beta of 3.16. Gray Television, Inc. has a 12 month low of $7.00 and a 12 month high of $15.45.
Gray Television (NYSE:GTN) last released its earnings results on Thursday, May 4th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. The firm had revenue of $203.46 million during the quarter, compared to the consensus estimate of $194.68 million. Gray Television had a return on equity of 13.68% and a net margin of 5.57%. The company’s revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.12 EPS. On average, equities research analysts anticipate that Gray Television, Inc. will post $0.89 EPS for the current fiscal year.
GTN has been the subject of several recent analyst reports. Singular Research increased their price objective on Gray Television from $12.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, March 9th. TheStreet upgraded Gray Television from a “c+” rating to a “b” rating in a research note on Wednesday, March 1st. Benchmark Co. reiterated a “buy” rating and set a $19.00 price objective on shares of Gray Television in a research note on Friday, May 5th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $17.00 price objective on shares of Gray Television in a research note on Thursday, April 13th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $16.50.
In other news, Director Richard Lee Boger sold 7,000 shares of the company’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $14.21, for a total transaction of $99,470.00. Following the completion of the sale, the director now directly owns 21,066 shares in the company, valued at approximately $299,347.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.77% of the company’s stock.
Gray Television Company Profile
Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in various markets across the United States. As of February 21, 2017, the Company owned and/or operated television stations in 54 television markets broadcasting over 200 separate programming streams, including 37 affiliates of the CBS Network (CBS), 29 affiliates of the NBC Network (NBC), 20 affiliates of the ABC Network (ABC) and 15 affiliates of the FOX Network (FOX).
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