Gray Television Inc. (NYSE:GTN) shot up 10.1% during mid-day trading on Thursday . The stock traded as high as $11.22 and last traded at $11.01, with a volume of 1,802,298 shares. The stock had previously closed at $10.00.

Several brokerages have issued reports on GTN. Zacks Investment Research raised shares of Gray Television from a “hold” rating to a “strong-buy” rating and set a $15.00 target price on the stock in a research note on Monday, May 2nd. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Gray Television in a research note on Tuesday, May 10th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Gray Television presently has an average rating of “Buy” and a consensus target price of $18.75.

The company has a market cap of $797.83 million and a price-to-earnings ratio of 19.07. The company has a 50-day moving average of $10.91 and a 200-day moving average of $11.69.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.25 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. The company had revenue of $196.60 million for the quarter, compared to analysts’ expectations of $196.25 million. Gray Television’s revenue for the quarter was up 37.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 EPS. Equities research analysts expect that Gray Television Inc. will post $1.72 earnings per share for the current year.

A number of hedge funds and institutional investors have added to or reduced their stakes in GTN. State Board of Administration of Florida Retirement System boosted its position in 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 during the last quarter. Rhumbline Advisers boosted its position in 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 during the last quarter. Stephens Inc. AR acquired a new position in Gray Television during the fourth quarter valued at about $1,243,000. California State Teachers Retirement System boosted its position 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. Finally, California Public Employees Retirement System boosted its position 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.

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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