Gray Television, Inc. (NYSE:GTN) Shares Bought by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC raised its position in Gray Television, Inc. (NYSE:GTN) by 26.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 24,213 shares of the company’s stock after acquiring an additional 5,120 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Gray Television were worth $217,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC raised its holdings in Gray Television by 61.5% during the fourth quarter. CWM LLC now owns 3,017 shares of the company’s stock worth $27,000 after purchasing an additional 1,149 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Gray Television during the 3rd quarter worth approximately $41,000. Sonora Investment Management Group LLC acquired a new stake in shares of Gray Television in the 3rd quarter valued at approximately $73,000. Oak Thistle LLC purchased a new stake in shares of Gray Television in the third quarter valued at approximately $74,000. Finally, AE Wealth Management LLC acquired a new position in Gray Television during the third quarter worth $76,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GTN shares. Barrington Research reissued a “market perform” rating on shares of Gray Television in a report on Tuesday, February 27th. Wells Fargo & Company raised their price objective on shares of Gray Television from $6.00 to $7.00 and gave the company an “underweight” rating in a research note on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.80.

Insider Activity at Gray Television

In related news, CEO Hilton H. Howell, Jr. purchased 10,000 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was bought at an average price of $8.09 per share, with a total value of $80,900.00. Following the completion of the transaction, the chief executive officer now owns 2,982,386 shares of the company’s stock, valued at approximately $24,127,502.74. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is owned by corporate insiders.

Gray Television Stock Performance

Gray Television stock opened at $5.60 on Friday. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.18 and a quick ratio of 1.18. Gray Television, Inc. has a fifty-two week low of $5.44 and a fifty-two week high of $10.69. The stock’s fifty day moving average is $6.09 and its two-hundred day moving average is $7.39.

Gray Television (NYSE:GTN) last issued its quarterly earnings data on Friday, February 23rd. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.08). The business had revenue of $864.00 million during the quarter, compared to analyst estimates of $863.31 million. Gray Television had a negative net margin of 2.32% and a negative return on equity of 3.76%. Gray Television’s revenue was down 19.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.88 earnings per share. Sell-side analysts forecast that Gray Television, Inc. will post 3.78 EPS for the current fiscal year.

Gray Television Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 5.71%. Gray Television’s dividend payout ratio is currently -23.02%.

About Gray Television

Gray Television, Inc, a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It also broadcasts secondary digital channels affiliated to ABC, CBS, NBC, and FOX, as well as various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Circle, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.