TheStreet upgraded shares of Gray Television (NYSE:GTN) from a c+ rating to a b- rating in a research report sent to investors on Wednesday morning, TheStreetRatingsTable reports.
Other equities research analysts have also issued research reports about the stock. Stephens set a $27.00 price objective on shares of Gray Television and gave the stock a buy rating in a report on Wednesday, August 21st. ValuEngine upgraded shares of Gray Television from a strong sell rating to a sell rating in a report on Wednesday, August 21st. Finally, Zacks Investment Research downgraded shares of Gray Television from a buy rating to a hold rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $24.80.
GTN stock traded down $0.23 during trading hours on Wednesday, hitting $16.96. The company’s stock had a trading volume of 7,469 shares, compared to its average volume of 914,483. The company has a quick ratio of 2.93, a current ratio of 2.93 and a debt-to-equity ratio of 2.89. The company has a market capitalization of $1.69 billion, a PE ratio of 6.97, a price-to-earnings-growth ratio of 1.84 and a beta of 2.13. Gray Television has a 12 month low of $13.60 and a 12 month high of $25.31. The stock has a 50 day moving average price of $15.87 and a two-hundred day moving average price of $18.87.
Gray Television (NYSE:GTN) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.03. The business had revenue of $508.00 million during the quarter, compared to the consensus estimate of $508.79 million. Gray Television had a net margin of 10.78% and a return on equity of 19.25%. Gray Television’s quarterly revenue was up 103.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 EPS. Sell-side analysts expect that Gray Television will post 0.91 earnings per share for the current year.
In other Gray Television news, major shareholder Harriett J. Robinson bought 7,500 shares of Gray Television stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $14.87 per share, with a total value of $111,525.00. Following the completion of the transaction, the insider now owns 1,008,467 shares in the company, valued at approximately $14,995,904.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Hilton H. Howell, Jr. bought 1,800 shares of Gray Television stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $14.76 per share, with a total value of $26,568.00. Following the transaction, the chairman now owns 992,224 shares of the company’s stock, valued at approximately $14,645,226.24. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 10,600 shares of company stock valued at $158,230. Company insiders own 10.14% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Penserra Capital Management LLC acquired a new position in Gray Television during the first quarter worth about $35,000. Point72 Hong Kong Ltd increased its stake in shares of Gray Television by 134.9% in the second quarter. Point72 Hong Kong Ltd now owns 5,945 shares of the company’s stock valued at $97,000 after buying an additional 3,414 shares during the period. New York State Teachers Retirement System acquired a new position in shares of Gray Television in the second quarter valued at approximately $115,000. Bank of Montreal Can increased its stake in shares of Gray Television by 3,422.7% in the second quarter. Bank of Montreal Can now owns 7,926 shares of the company’s stock valued at $130,000 after buying an additional 7,701 shares during the period. Finally, Lowe Brockenbrough & Co. Inc. acquired a new position in shares of Gray Television in the second quarter valued at approximately $164,000. 84.86% of the stock is owned by institutional investors.
Gray Television Company Profile
Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 28, 2019, it owned and operated television stations in 91 television markets broadcasting approximately 400 program streams, including approximately 150 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.
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