Gray Television, Inc. (NYSE:GTN) Shares Bought by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC lifted its stake in shares of Gray Television, Inc. (NYSE:GTN) by 26.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 24,213 shares of the company’s stock after acquiring an additional 5,120 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Gray Television were worth $217,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. CWM LLC increased its stake in Gray Television by 61.5% during the 4th quarter. CWM LLC now owns 3,017 shares of the company’s stock valued at $27,000 after buying an additional 1,149 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of Gray Television in the third quarter valued at approximately $41,000. Sonora Investment Management Group LLC acquired a new position in shares of Gray Television during the third quarter valued at approximately $73,000. Oak Thistle LLC bought a new stake in Gray Television during the third quarter worth approximately $74,000. Finally, AE Wealth Management LLC acquired a new stake in Gray Television in the third quarter worth approximately $76,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on GTN. Barrington Research reissued a “market perform” rating on shares of Gray Television in a research note on Tuesday, February 27th. Wells Fargo & Company lifted their target price on Gray Television from $6.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.80.

Insider Transactions at Gray Television

In other news, CEO Hilton H. Howell, Jr. purchased 10,000 shares of Gray Television stock in a transaction that occurred on Thursday, March 28th. The stock was acquired at an average price of $8.09 per share, for a total transaction of $80,900.00. Following the transaction, the chief executive officer now owns 2,982,386 shares in the company, valued at $24,127,502.74. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.80% of the stock is currently owned by insiders.

Gray Television Stock Performance

NYSE GTN opened at $5.60 on Friday. Gray Television, Inc. has a 1 year low of $5.44 and a 1 year high of $10.69. The business’s fifty day moving average is $6.09 and its two-hundred day moving average is $7.39. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 3.12.

Gray Television (NYSE:GTN) last announced its earnings results on Friday, February 23rd. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.08). Gray Television had a negative return on equity of 3.76% and a negative net margin of 2.32%. The company had revenue of $864.00 million for the quarter, compared to analyst estimates of $863.31 million. During the same period last year, the firm earned $1.88 earnings per share. The firm’s revenue for the quarter was down 19.4% on a year-over-year basis. On average, analysts forecast that Gray Television, Inc. will post 3.78 EPS for the current fiscal year.

Gray Television Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 5.71%. The ex-dividend date of this dividend was Thursday, March 14th. Gray Television’s payout ratio is -23.02%.

About Gray Television

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.