Gray Television Inc. (NYSE:GTN)’s share price dropped 1.5% during mid-day trading on Thursday . The company traded as low as $10.97 and last traded at $10.98, with a volume of 198,520 shares. The stock had previously closed at $11.15.

GTN has been the subject of a number of research reports. Zacks Investment Research cut shares of Gray Television from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. Wells Fargo & Co. restated a “buy” rating on shares of Gray Television in a research report on Tuesday, May 24th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $18.75.

The stock has a market capitalization of $797.85 million and a price-to-earnings ratio of 16.59. The firm’s 50-day moving average price is $11.06 and its 200-day moving average price is $11.53.

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, hitting the Zacks’ consensus estimate of $0.25. The firm earned $196.60 million during the quarter, compared to analyst estimates of $196.25 million. During the same period last year, the business earned $0.17 EPS. The firm’s revenue was up 37.1% on a year-over-year basis. On average, equities research analysts forecast that Gray Television Inc. will post $1.63 EPS for the current year.

A hedge fund recently bought a new stake in Gray Television stock. Stephens Inc. AR bought a new position in shares of Gray Television Inc. (NYSE:GTN) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 76,262 shares of the company’s stock, valued at approximately $1,243,000. Stephens Inc. AR owned about 0.11% of Gray Television at the end of the most recent quarter.

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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