Shares of Gray Television Inc. (NYSE:GTN) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $9.15 and last traded at $10.00, with a volume of 1,027,678 shares traded. The stock had previously closed at $9.29.

GTN has been the topic of several analyst reports. Zacks Investment Research raised shares of Gray Television from a “strong sell” rating to a “hold” rating and set a $13.00 price target on the stock in a research report on Tuesday, July 12th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Gray Television in a research 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 company. The company has a consensus rating of “Buy” and a consensus target price of $18.75.

The company has a market cap of $718.77 million and a P/E ratio of 17.18. The firm’s 50-day moving average is $10.95 and its 200 day moving average is $11.70.

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

Several hedge funds recently added to or reduced their stakes in GTN. 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 valued at $24,362,000 after buying an additional 139,875 shares in the last quarter. Century Capital Management LLC acquired a new stake in Gray Television during the fourth quarter valued at about $3,748,000. 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 during 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 during the last quarter. Finally, California State Teachers Retirement System increased its stake in 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 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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