Scopus Asset Management L.P. bought a new stake in Gray Television, Inc. (NYSE:GTN) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 850,000 shares of the company’s stock, valued at approximately $13,430,000. Scopus Asset Management L.P. owned approximately 0.96% of Gray Television as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of GTN. Cornerstone Wealth Management LLC purchased a new position in Gray Television in the second quarter valued at about $664,000. Amalgamated Bank purchased a new position in Gray Television in the first quarter valued at about $136,000. Aperio Group LLC purchased a new position in Gray Television in the second quarter valued at about $177,000. Element Capital Management LLC purchased a new position in Gray Television in the first quarter valued at about $146,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in Gray Television in the first quarter valued at about $167,000. Institutional investors and hedge funds own 87.81% of the company’s stock.

NYSE:GTN opened at $17.08 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 4.69 and a current ratio of 4.69. Gray Television, Inc. has a 52 week low of $10.70 and a 52 week high of $17.80. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 0.86 and a beta of 2.51.

Gray Television (NYSE:GTN) last released its earnings results on Tuesday, August 7th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. Gray Television had a return on equity of 11.89% and a net margin of 25.99%. The company had revenue of $250.34 million for the quarter, compared to the consensus estimate of $252.11 million. research analysts forecast that Gray Television, Inc. will post 1.98 earnings per share for the current fiscal year.

GTN has been the subject of a number of analyst reports. Zacks Investment Research raised Gray Television from a “hold” rating to a “strong-buy” rating and set a $13.00 price target for the company in a report on Tuesday, May 22nd. ValuEngine downgraded Gray Television from a “sell” rating to a “strong sell” rating in a report on Saturday, June 2nd. Gabelli reissued a “buy” rating on shares of Gray Television in a report on Wednesday, June 20th. Royal Bank of Canada increased their price target on Gray Television to $19.00 and gave the company an “outperform” rating in a report on Tuesday, June 26th. Finally, Wells Fargo & Co increased their price target on Gray Television from $18.00 to $28.00 and gave the company an “outperform” rating in a report on Tuesday, June 26th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Gray Television presently has an average rating of “Buy” and a consensus target price of $21.50.

Gray Television Profile

Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 23, 2018, the company owned and operated television stations in 57 television markets broadcasting approximately 200 program streams, including approximately 100 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.

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

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