Gray Television Inc. (NYSE:GTN) hit a new 52-week low on Thursday . The company traded as low as $9.91 and last traded at $10.04, with a volume of 577,498 shares changing hands. The stock had previously closed at $10.29.

GTN has been the subject of a number of recent research reports. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Gray Television in a research report on Tuesday, May 24th. Zacks Investment Research downgraded shares of Gray Television from a “buy” rating to a “hold” rating in a research report on Thursday, April 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $18.75.

The stock’s 50-day moving average price is $11.14 and its 200-day moving average price is $11.83. The stock has a market capitalization of $721.65 million and a PE ratio of 17.25.

Gray Television (NYSE:GTN) last posted its quarterly earnings data on Monday, May 9th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.08. During the same period in the prior year, the company posted $0.10 earnings per share. The firm had revenue of $173.70 million for the quarter, compared to the consensus estimate of $178.05 million. Gray Television’s quarterly revenue was up 30.3% on a year-over-year basis. On average, equities research analysts predict that Gray Television Inc. will post $1.72 earnings per share for the current fiscal year.

Other hedge funds have recently bought and sold shares of the company. Century Capital Management LLC purchased a new stake in Gray Television during the fourth quarter valued at about $3,748,000. Victory Capital Management Inc. increased 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 valued at $24,362,000 after buying an additional 139,875 shares in the last quarter. Monarch Partners Asset Management LLC increased 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 valued at $3,323,000 after buying an additional 95,750 shares in the last quarter. Stephens Inc. AR purchased a new stake in Gray Television during the fourth quarter valued at about $1,243,000. Finally, California Public Employees Retirement System increased its stake in Gray Television by 12.6% in the fourth quarter. California Public Employees Retirement System now owns 208,500 shares of the company’s stock valued at $3,399,000 after buying an additional 23,300 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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