Gray Television Inc. (NYSE:GTN) shares saw unusually-strong trading volume on Thursday . Approximately 2,156,402 shares were traded during trading, an increase of 174% from the previous session’s volume of 785,717 shares.The stock last traded at $11.05 and had previously closed at $11.25.

Several equities analysts recently commented on GTN shares. Zacks Investment Research upgraded shares of Gray Television from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Tuesday, March 29th. Wells Fargo & Co. reiterated a “buy” rating on shares of Gray Television in a research note on Tuesday, May 24th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $18.75.

The firm has a market cap of $797.83 million and a PE ratio of 19.07. The stock’s 50 day moving average is $11.23 and its 200 day moving average is $11.93.

Gray Television (NYSE:GTN) last issued its quarterly earnings results on Monday, May 9th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.08. The business had revenue of $173.70 million for the quarter, compared to the consensus estimate of $178.05 million. During the same period in the prior year, the business earned $0.10 earnings per share. Gray Television’s revenue was up 30.3% compared to the same quarter last year. On average, equities research analysts forecast that Gray Television Inc. will post $1.73 earnings per share for the current fiscal year.

Several institutional investors have modified their holdings of GTN. State Board of Administration of Florida Retirement System boosted its position in shares of Gray Television by 1.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 63,322 shares of the company’s stock valued at $1,032,000 after buying an additional 985 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Gray Television by 8.0% in the fourth quarter. Rhumbline Advisers now owns 63,365 shares of the company’s stock valued at $1,033,000 after buying an additional 4,700 shares in the last quarter. Stephens Inc. AR acquired a new position in shares of Gray Television during the fourth quarter valued at $1,243,000. California State Teachers Retirement System boosted its position in shares of Gray Television by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 117,010 shares of the company’s stock valued at $1,907,000 after buying an additional 2,115 shares in the last quarter. Finally, Monarch Partners Asset Management LLC boosted its position in shares of Gray Television by 88.6% in the fourth quarter. Monarch Partners Asset Management LLC now owns 203,850 shares of the company’s stock valued at $3,323,000 after buying an additional 95,750 shares in 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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