Hudson Edge Investment Partners Inc. Buys 4,832 Shares of Gray Television, Inc. (NYSE:GTN)

Hudson Edge Investment Partners Inc. increased its stake in shares of Gray Television, Inc. (NYSE:GTN) by 11.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 45,388 shares of the company’s stock after buying an additional 4,832 shares during the period. Hudson Edge Investment Partners Inc.’s holdings in Gray Television were worth $236,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC lifted its position 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 acquiring an additional 1,149 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Gray Television during the 1st quarter worth approximately $25,000. nVerses Capital LLC bought a new stake in Gray Television in the 2nd quarter valued at $27,000. Entropy Technologies LP acquired a new position in Gray Television in the 1st quarter valued at $73,000. Finally, Innealta Capital LLC bought a new position in Gray Television during the 1st quarter worth $74,000. Institutional investors own 78.64% of the company’s stock.

Gray Television Price Performance

Gray Television stock traded down $0.04 during trading hours on Friday, reaching $4.59. 942,262 shares of the stock were exchanged, compared to its average volume of 1,298,222. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 2.98. Gray Television, Inc. has a twelve month low of $4.15 and a twelve month high of $10.07. The company has a market cap of $455.04 million, a P/E ratio of -38.25, a price-to-earnings-growth ratio of 0.10 and a beta of 1.49. The stock has a 50 day moving average of $5.21 and a two-hundred day moving average of $5.65.

Gray Television (NYSE:GTN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). Gray Television had a return on equity of 3.02% and a net margin of 1.84%. The firm had revenue of $826.00 million for the quarter, compared to analyst estimates of $840.33 million. During the same quarter in the prior year, the business posted ($0.10) EPS. The business’s revenue was up 1.6% on a year-over-year basis. Equities analysts expect that Gray Television, Inc. will post 4.97 EPS for the current fiscal year.

Gray Television Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 6.97%. Gray Television’s dividend payout ratio (DPR) is currently -266.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GTN shares. Guggenheim reduced their target price on shares of Gray Television from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Benchmark decreased their target price on shares of Gray Television from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Wells Fargo & Company dropped their price target on shares of Gray Television from $6.00 to $4.00 and set an “underweight” rating for the company in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Gray Television currently has a consensus rating of “Hold” and an average price target of $8.33.

Gray Television Company Profile

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.