Gray Television (NYSE:GTN.A) Sees Strong Trading Volume – Still a Buy?

Shares of Gray Television, Inc. (NYSE:GTN.A) saw unusually-strong trading volume on Wednesday . Approximately 22,250 shares traded hands during mid-day trading, an increase of 368% from the previous session’s volume of 4,759 shares.The stock last traded at $6.90 and had previously closed at $7.08.

Gray Television Stock Performance

The firm has a market capitalization of $697.69 million, a PE ratio of 4.67 and a beta of 1.29. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50-day simple moving average of $7.33 and a 200-day simple moving average of $8.04.

Gray Television Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 4.57%. Gray Television’s payout ratio is 21.33%.

About Gray Television

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.