Shares of Gray Television Inc. (NYSE:GTN) gapped up prior to trading on Thursday . The stock had previously closed at $11.00, but opened at $11.03. Gray Television shares last traded at $11.33, with a volume of 220,162 shares trading hands.

Several research firms have recently weighed in on GTN. Zacks Investment Research upgraded shares of Gray Television from a “hold” rating to a “strong-buy” rating and set a $15.00 price objective for the company in a research note on Monday, May 2nd. Wells Fargo & Co. reiterated a “buy” rating on shares of Gray Television in a research note on Tuesday, May 10th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $18.75.

The company’s 50 day moving average price is $10.87 and its 200 day moving average price is $11.62. The firm has a market capitalization of $818.69 million and a price-to-earnings ratio of 17.03.

Gray Television (NYSE:GTN) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.25. During the same period last year, the company posted $0.17 EPS. The company had revenue of $196.60 million for the quarter, compared to analysts’ expectations of $196.25 million. The business’s revenue for the quarter was up 37.1% compared to the same quarter last year. Equities research analysts forecast that Gray Television Inc. will post $1.66 earnings per share for the current fiscal year.

A number of hedge funds have made changes to their positions in the company. Victory Capital Management Inc. raised 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 worth $24,362,000 after buying an additional 139,875 shares during the last quarter. California Public Employees Retirement System raised 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 worth $3,399,000 after buying an additional 23,300 shares during the last quarter. California State Teachers Retirement System raised 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 worth $1,907,000 after buying an additional 2,115 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Gray Television by 8.0% in the fourth quarter. Rhumbline Advisers now owns 63,365 shares of the company’s stock worth $1,033,000 after buying an additional 4,700 shares during the last quarter. Finally, Stephens Inc. AR acquired a new stake in shares of Gray Television during the fourth quarter worth 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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