Gray Television Inc. (NYSE:GTN) shares saw an uptick in trading volume on Wednesday . 1,254,730 shares were traded during trading, an increase of 66% from the previous session’s volume of 757,824 shares.The stock last traded at $9.75 and had previously closed at $10.00.

A number of research analysts have recently issued reports on GTN shares. Wells Fargo & Co. restated a “buy” rating on shares of Gray Television in a research report on Tuesday, May 24th. Zacks Investment Research downgraded shares of Gray Television from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $18.75.

The stock has a market capitalization of $720.94 million, a price-to-earnings ratio of 14.99 and a beta of 2.94. The firm has a 50 day moving average price of $11.09 and a 200 day moving average price of $11.50.

Gray Television (NYSE:GTN) last released its earnings results on Thursday, August 4th. The company reported $0.25 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.25. Gray Television had a return on equity of 12.58% and a net margin of 6.98%. The firm had revenue of $196.60 million for the quarter, compared to analysts’ expectations of $196.25 million. During the same quarter in the previous year, the business posted $0.17 earnings per share. The business’s revenue for the quarter was up 37.1% on a year-over-year basis. On average, equities analysts anticipate that Gray Television Inc. will post $1.63 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas raised its position in shares of Gray Television by 18.5% in the second quarter. Teacher Retirement System of Texas now owns 9,196 shares of the company’s stock valued at $100,000 after buying an additional 1,434 shares during the period. BlackRock Inc. increased its stake in Gray Television by 43.6% in the second quarter. BlackRock Inc. now owns 9,627 shares of the company’s stock valued at $105,000 after buying an additional 2,922 shares in the last quarter. Legal & General Group Plc increased its stake in Gray Television by 26.3% in the first quarter. Legal & General Group Plc now owns 9,143 shares of the company’s stock valued at $106,000 after buying an additional 1,906 shares in the last quarter. Sei Investments Co. increased its stake in Gray Television by 407.6% in the second quarter. Sei Investments Co. now owns 10,441 shares of the company’s stock valued at $113,000 after buying an additional 8,384 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in Gray Television during the second quarter valued at approximately $149,000. 86.57% of the stock is currently owned by institutional investors.

About Gray Television

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).

5 Day Chart for NYSE:GTN

Receive News & Ratings for Gray Television Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gray Television Inc. and related companies with MarketBeat.com's FREE daily email newsletter.