GSA Capital Partners LLP Buys 172,801 Shares of Gray Television, Inc. (NYSE:GTN)

GSA Capital Partners LLP increased its holdings in shares of Gray Television, Inc. (NYSE:GTN) by 287.9% in the third quarter, Holdings Channel.com reports. The fund owned 232,832 shares of the company’s stock after buying an additional 172,801 shares during the quarter. GSA Capital Partners LLP’s holdings in Gray Television were worth $1,248,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GTN. Allspring Global Investments Holdings LLC bought a new stake in shares of Gray Television during the 1st quarter worth approximately $25,000. nVerses Capital LLC bought a new stake in shares of Gray Television during the 2nd quarter worth approximately $27,000. CWM LLC lifted its stake in shares of Gray Television by 733.1% during the 2nd quarter. CWM LLC now owns 7,448 shares of the company’s stock worth $39,000 after acquiring an additional 6,554 shares during the last quarter. Creative Planning bought a new stake in shares of Gray Television during the 3rd quarter worth approximately $56,000. Finally, HBK Sorce Advisory LLC bought a new stake in shares of Gray Television during the 2nd quarter worth approximately $58,000. 78.64% of the stock is owned by institutional investors.

Gray Television Trading Up 8.9 %

Shares of NYSE:GTN opened at $4.79 on Friday. Gray Television, Inc. has a 12-month low of $3.95 and a 12-month high of $10.07. The business’s fifty day simple moving average is $5.27 and its 200-day simple moving average is $5.43. The company has a market capitalization of $477.40 million, a PE ratio of 3.19, a P/E/G ratio of 0.10 and a beta of 1.47. The company has a current ratio of 1.13, a quick ratio of 1.63 and a debt-to-equity ratio of 2.76.

Gray Television (NYSE:GTN) last announced its earnings results on Friday, November 8th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.08). Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The business had revenue of $950.00 million for the quarter, compared to analysts’ expectations of $967.49 million. During the same quarter last year, the firm earned ($0.57) earnings per share. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. As a group, equities research analysts predict that Gray Television, Inc. will post 4.37 earnings per share for the current fiscal year.

Gray Television Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a yield of 6.68%. Gray Television’s dividend payout ratio is currently 21.33%.

Analyst Ratings Changes

GTN has been the subject of a number of research analyst reports. StockNews.com raised Gray Television from a “sell” rating to a “hold” rating in a research note on Monday. Guggenheim decreased their target price on Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday. Benchmark decreased their target price on Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Monday. Finally, Wells Fargo & Company decreased their target price on Gray Television from $6.00 to $4.00 and set an “underweight” rating for the company in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $6.67.

Gray Television 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.