Peregrine Capital Management LLC lifted its holdings in Gray Television, Inc. (NYSE:GTN) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 450,522 shares of the company’s stock after purchasing an additional 6,375 shares during the period. Peregrine Capital Management LLC owned 0.45% of Gray Television worth $6,285,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC increased its stake in Gray Television by 580.0% during the first quarter. Nisa Investment Advisors LLC now owns 4,420 shares of the company’s stock valued at $47,000 after acquiring an additional 3,770 shares during the period. Emerald Mutual Fund Advisers Trust bought a new position in Gray Television during the second quarter valued at about $47,000. Global Retirement Partners LLC increased its stake in Gray Television by 33.9% during the second quarter. Global Retirement Partners LLC now owns 3,422 shares of the company’s stock valued at $48,000 after acquiring an additional 867 shares during the period. Aigen Investment Management LP bought a new position in Gray Television during the first quarter valued at about $52,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Gray Television by 45.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,429 shares of the company’s stock valued at $112,000 after acquiring an additional 3,245 shares during the period. Institutional investors and hedge funds own 83.37% of the company’s stock.
Several equities analysts recently issued reports on the company. Noble Financial restated a “buy” rating and set a $22.00 price target on shares of Gray Television in a research note on Friday, May 8th. Zacks Investment Research lowered Gray Television from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Finally, Barrington Research restated a “buy” rating and set a $20.00 price target on shares of Gray Television in a research note on Thursday, May 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $21.20.
GTN stock opened at $14.34 on Friday. Gray Television, Inc. has a 1-year low of $8.53 and a 1-year high of $23.07. The firm has a market cap of $1.43 billion, a P/E ratio of 7.24, a P/E/G ratio of 0.60 and a beta of 2.07. The business’s 50 day moving average is $14.11 and its 200-day moving average is $15.07. The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 2.50.
Gray Television (NYSE:GTN) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.17. Gray Television had a return on equity of 16.54% and a net margin of 11.09%. The company had revenue of $534.00 million for the quarter, compared to analyst estimates of $543.75 million. During the same period in the prior year, the company posted ($0.31) EPS. The company’s revenue was up 3.1% compared to the same quarter last year. Sell-side analysts forecast that Gray Television, Inc. will post 2.4 EPS for the current year.
In other Gray Television news, Director Robin Robinson Howell bought 2,000 shares of Gray Television stock in a transaction dated Monday, June 29th. The shares were acquired at an average cost of $13.08 per share, with a total value of $26,160.00. Following the acquisition, the director now directly owns 81,635 shares of the company’s stock, valued at $1,067,785.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.27% of the company’s stock.
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 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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