Shares of Gray Television Inc. (NYSE:GTN) shot up 10.1% during 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 trading hands. The stock had previously closed at $10.00.

Several equities analysts have recently weighed in on GTN shares. Zacks Investment Research lowered shares of Gray Television from a “buy” rating to a “hold” rating in a report on Thursday, July 28th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Gray Television in a report on Tuesday, May 24th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $18.75.

The company has a market capitalization of $807.18 million and a P/E ratio of 19.30. The company has a 50 day moving average of $10.89 and a 200 day moving average of $11.68.

Gray Television (NYSE:GTN) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.25 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. During the same quarter in the prior year, the company earned $0.17 earnings per share. The company earned $196.60 million during the quarter, compared to analysts’ expectations of $196.25 million. The business’s revenue for the quarter was up 37.1% on a year-over-year basis. On average, equities research analysts expect that Gray Television Inc. will post $1.72 earnings per share for the current year.

A number of institutional investors recently made changes to their positions in GTN. Victory Capital Management Inc. raised its position 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 in the last quarter. Century Capital Management LLC purchased a new stake in Gray Television during the fourth quarter valued at $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. 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. Finally, Stephens Inc. AR purchased a new stake in Gray Television during the fourth quarter valued at $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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