Shares of Gray Television Inc. (NYSE:GTN) rose 1.7% during mid-day trading on Thursday . The stock traded as high as $10.97 and last traded at $10.83, with a volume of 289,180 shares changing hands. The stock had previously closed at $10.65.

GTN has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Gray Television from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Tuesday, March 29th. Wells Fargo & Co. restated a “buy” rating on shares of Gray Television in a report on Tuesday, May 10th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Gray Television currently has an average rating of “Buy” and an average target price of $19.25.

The firm’s 50-day moving average is $11.28 and its 200-day moving average is $12.24. The stock has a market capitalization of $790.65 million and a P/E ratio of 18.90.

Gray Television (NYSE:GTN) last posted its earnings results on Monday, May 9th. The company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.08. The firm earned $173.70 million during the quarter, compared to analyst estimates of $178.05 million. During the same period last year, the company posted $0.10 EPS. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, analysts anticipate that Gray Television Inc. will post $1.74 earnings per share for the current year.

Several hedge funds recently bought and sold shares of GTN. Century Capital Management LLC bought a new stake in Gray Television during the fourth quarter worth approximately $3,748,000. Victory Capital Management Inc. raised its stake in Gray Television by 10.3% in the fourth quarter. Victory Capital Management Inc. now owns 1,494,585 shares of the company’s stock worth $24,362,000 after buying an additional 139,875 shares during the last quarter. Monarch Partners Asset Management LLC raised its stake in Gray Television by 88.6% in the fourth quarter. Monarch Partners Asset Management LLC now owns 203,850 shares of the company’s stock worth $3,323,000 after buying an additional 95,750 shares during the last quarter. Engineers Gate Manager LP bought a new stake in Gray Television during the fourth quarter worth approximately $1,236,000. Finally, Cornercap Investment Counsel Inc. raised its stake in Gray Television by 5.2% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 118,296 shares of the company’s stock worth $1,928,000 after buying an additional 5,825 shares during the last quarter.

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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