Gray Television, Inc. (NYSE:GTN) Shares Sold by Fmr LLC

FMR LLC trimmed its position in Gray Television, Inc. (NYSE:GTN) by 0.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,858,634 shares of the company’s stock after selling 4,275 shares during the quarter. FMR LLC owned 5.79% of Gray Television worth $125,140,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Penserra Capital Management LLC acquired a new stake in shares of Gray Television in the first quarter valued at approximately $35,000. Global Retirement Partners LLC increased its holdings in shares of Gray Television by 342.4% in the fourth quarter. Global Retirement Partners LLC now owns 1,783 shares of the company’s stock valued at $26,000 after purchasing an additional 1,380 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new stake in shares of Gray Television in the fourth quarter valued at approximately $110,000. Welch Group LLC acquired a new stake in shares of Gray Television in the first quarter valued at approximately $214,000. Finally, SG Americas Securities LLC acquired a new stake in Gray Television during the first quarter worth $220,000. Institutional investors and hedge funds own 85.09% of the company’s stock.

NYSE GTN traded down $0.21 during trading hours on Thursday, hitting $17.45. The company had a trading volume of 870,200 shares, compared to its average volume of 994,394. Gray Television, Inc. has a fifty-two week low of $13.75 and a fifty-two week high of $25.31. The stock has a market cap of $1.85 billion, a P/E ratio of 7.18, a price-to-earnings-growth ratio of 2.01 and a beta of 1.99. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.51 and a quick ratio of 2.51. The business’s 50 day moving average is $16.96.

Gray Television (NYSE:GTN) last announced its earnings results on Wednesday, May 8th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.13. The company had revenue of $518.00 million during the quarter, compared to the consensus estimate of $498.41 million. Gray Television had a return on equity of 20.34% and a net margin of 12.56%. The company’s revenue was up 129.2% on a year-over-year basis. During the same period last year, the firm earned $0.22 earnings per share. As a group, equities analysts predict that Gray Television, Inc. will post 0.91 EPS for the current fiscal year.

GTN has been the subject of a number of research reports. TheStreet cut TIM Participacoes from a “b” rating to a “c+” rating in a research note on Tuesday, June 4th. Barrington Research set a $22.00 target price on The Hackett Group and gave the company a “buy” rating in a report on Wednesday, May 8th. ValuEngine raised Zillow Group from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Benchmark reissued a “buy” rating on shares of Gray Television in a report on Thursday, May 9th. Finally, Zacks Investment Research cut H&E Equipment Services from a “hold” rating to a “sell” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Gray Television presently has an average rating of “Buy” and an average target price of $24.80.

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

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