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

Several equities research analysts have recently issued reports on the company. Wells Fargo & Co. restated a “buy” rating on shares of Gray Television in a report on Tuesday, May 10th. Zacks Investment Research cut Gray Television from a “buy” rating to a “hold” rating in a report on Thursday, April 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Gray Television has a consensus rating of “Buy” and an average target price of $18.75.

The stock has a market cap of $797.83 million and a price-to-earnings ratio of 19.07. The firm has a 50-day moving average of $10.90 and a 200 day moving average of $11.68.

Gray Television (NYSE:GTN) last announced its 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 firm had revenue of $196.60 million for the quarter, compared to the consensus estimate of $196.25 million. During the same period in the previous year, the firm earned $0.17 EPS. Gray Television’s revenue for the quarter was up 37.1% 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.

A number of large investors have recently made changes to their positions in GTN. Victory Capital Management Inc. boosted its stake in shares of 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 during the last quarter. Century Capital Management LLC purchased a new stake in shares of Gray Television during the fourth quarter valued at approximately $3,748,000. California Public Employees Retirement System boosted its stake in shares of 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. California State Teachers Retirement System boosted its stake 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 during the last quarter. Finally, Stephens Inc. AR purchased a new stake in shares of Gray Television during the fourth quarter valued at approximately $1,243,000.

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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