Engineers Gate Manager LP decreased its holdings in shares of Gray Television, Inc. (NYSE:GTN) by 61.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,753 shares of the company’s stock after selling 80,834 shares during the quarter. Engineers Gate Manager LP owned about 0.08% of Gray Television worth $695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. BNP Paribas Arbitrage SA raised its holdings in Gray Television by 4,901.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,452 shares of the company’s stock valued at $102,000 after acquiring an additional 7,303 shares during the period. LSV Asset Management bought a new stake in Gray Television during the 2nd quarter valued at $153,000. Clinton Group Inc. bought a new stake in Gray Television during the 1st quarter valued at $176,000. Pacad Investment Ltd. raised its holdings in Gray Television by 24.3% during the 2nd quarter. Pacad Investment Ltd. now owns 13,800 shares of the company’s stock valued at $189,000 after acquiring an additional 2,700 shares during the period. Finally, Legal & General Group Plc raised its holdings in Gray Television by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 16,502 shares of the company’s stock valued at $226,000 after acquiring an additional 505 shares during the period. 89.48% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have issued reports on GTN. ValuEngine cut shares of Gray Television from a “strong-buy” rating to a “buy” rating in a report on Friday. Wells Fargo & Company reissued an “outperform” rating and set a $18.00 target price (up previously from $15.50) on shares of Gray Television in a report on Thursday, August 10th. Benchmark Co. boosted their target price on shares of Gray Television from $19.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Royal Bank Of Canada boosted their target price on shares of Gray Television from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, August 9th. Finally, BidaskClub raised shares of Gray Television from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $17.00.

Gray Television, Inc. (NYSE GTN) opened at 13.85 on Friday. Gray Television, Inc. has a 12-month low of $7.00 and a 12-month high of $15.45. The stock has a 50 day moving average of $14.20 and a 200 day moving average of $13.88. The company has a market cap of $992.14 million, a PE ratio of 8.61 and a beta of 3.29.

Gray Television (NYSE:GTN) last released its earnings results on Tuesday, August 8th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Gray Television had a net margin of 13.38% and a return on equity of 17.32%. The company had revenue of $226.70 million for the quarter, compared to analysts’ expectations of $221.05 million. During the same quarter in the previous year, the company earned $0.24 EPS. Gray Television’s revenue for the quarter was up 15.3% on a year-over-year basis. Equities analysts expect that Gray Television, Inc. will post $1.61 earnings per share for the current year.

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Gray Television Profile

Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in various markets across the United States. As of February 21, 2017, the Company owned and/or operated television stations in 54 television markets broadcasting over 200 separate programming streams, including 37 affiliates of the CBS Network (CBS), 29 affiliates of the NBC Network (NBC), 20 affiliates of the ABC Network (ABC) and 15 affiliates of the FOX Network (FOX).

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Institutional Ownership by Quarter for Gray Television (NYSE:GTN)

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