Gray Television, Inc. (NYSE:GTN) Shares Sold by Skylands Capital LLC

Skylands Capital LLC trimmed its holdings in Gray Television, Inc. (NYSE:GTN) by 13.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 258,100 shares of the company’s stock after selling 40,100 shares during the period. Skylands Capital LLC owned approximately 0.27% of Gray Television worth $2,313,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Gray Television by 23.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,060,987 shares of the company’s stock worth $14,262,000 after purchasing an additional 386,907 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in Gray Television in the fourth quarter valued at about $964,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Gray Television during the third quarter worth about $1,693,000. Darsana Capital Partners LP increased its position in shares of Gray Television by 336.8% during the third quarter. Darsana Capital Partners LP now owns 4,000,441 shares of the company’s stock valued at $27,683,000 after acquiring an additional 3,084,578 shares during the last quarter. Finally, Capital Management Corp VA raised its stake in shares of Gray Television by 27.2% in the 4th quarter. Capital Management Corp VA now owns 3,094,883 shares of the company’s stock valued at $27,730,000 after acquiring an additional 661,760 shares during the period. Institutional investors and hedge funds own 78.64% of the company’s stock.

Gray Television Stock Up 4.5 %

Shares of NYSE GTN traded up $0.25 during mid-day trading on Monday, hitting $5.86. The company had a trading volume of 436,582 shares, compared to its average volume of 1,128,598. The company has a market capitalization of $569.62 million, a PE ratio of -4.24, a price-to-earnings-growth ratio of 0.15 and a beta of 1.57. The business’s 50-day simple moving average is $6.04 and its 200 day simple moving average is $7.40. Gray Television, Inc. has a 1-year low of $5.44 and a 1-year high of $10.69. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.18 and a quick ratio of 1.18.

Gray Television (NYSE:GTN) last posted its quarterly 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). The company had revenue of $864.00 million during the quarter, compared to analyst estimates of $863.31 million. Gray Television had a negative net margin of 2.32% and a negative return on equity of 3.76%. Gray Television’s revenue for the quarter was down 19.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.88 EPS. On average, analysts predict that Gray Television, Inc. will post 3.78 earnings per share for the current year.

Gray Television Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $0.08 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.46%. Gray Television’s payout ratio is -23.02%.

Insider Transactions at Gray Television

In other Gray Television news, CEO Hilton H. Howell, Jr. purchased 10,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was bought at an average cost of $8.09 per share, with a total value of $80,900.00. Following the acquisition, the chief executive officer now directly owns 2,982,386 shares of the company’s stock, valued at $24,127,502.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.80% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.