Advisory Services Network LLC Has $614,000 Stake in Gray Television Inc. (GTN)
Advisory Services Network LLC boosted its stake in shares of Gray Television Inc. (NYSE:GTN) by 11.3% during the second quarter, Holdings Channel reports. The institutional investor owned 56,580 shares of the company’s stock after buying an additional 5,730 shares during the period. Advisory Services Network LLC’s holdings in Gray Television were worth $614,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the stock. American Century Companies Inc. purchased a new stake in shares of Gray Television during the second quarter valued at approximately $12,499,000. Calixto Global Investors LP boosted its position in shares of Gray Television by 137.8% in the first quarter. Calixto Global Investors LP now owns 1,851,713 shares of the company’s stock valued at $21,702,000 after buying an additional 1,072,891 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Gray Television during the second quarter valued at $5,514,000. Teachers Advisors Inc. boosted its position in shares of Gray Television by 30.4% in the first quarter. Teachers Advisors Inc. now owns 1,064,288 shares of the company’s stock valued at $12,473,000 after buying an additional 248,253 shares during the last quarter. Finally, Kennedy Capital Management Inc. acquired a new position in shares of Gray Television during the first quarter valued at $1,038,000. Institutional investors own 86.57% of the company’s stock.
Gray Television Inc. (NYSE:GTN) traded up 0.09% during trading on Tuesday, hitting $10.71. 1,106,953 shares of the company’s stock traded hands. The company’s 50 day moving average is $10.89 and its 200-day moving average is $11.38. The stock has a market cap of $769.81 million, a P/E ratio of 16.01 and a beta of 2.99. Gray Television Inc. has a 12 month low of $9.15 and a 12 month high of $17.70.
Gray Television (NYSE:GTN) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. The firm earned $196.60 million during the quarter, compared to the consensus estimate of $196.25 million. Gray Television had a net margin of 6.98% and a return on equity of 12.58%. The company’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 earnings per share. On average, analysts predict that Gray Television Inc. will post $1.43 earnings per share for the current year.
Several equities analysts recently weighed in on GTN shares. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Gray Television in a research report on Monday, September 26th. Zacks Investment Research cut shares of Gray Television from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $18.75.
Gray Television Company Profile
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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