Gray Television, Inc. (NYSE:GTN) Shares Purchased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Gray Television, Inc. (NYSE:GTN) by 232.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 813,000 shares of the company’s stock after purchasing an additional 568,400 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.84% of Gray Television worth $5,138,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Gray Television by 9.8% in the first quarter. Vanguard Group Inc. now owns 5,662,398 shares of the company’s stock valued at $35,786,000 after purchasing an additional 506,106 shares during the last quarter. Capital Management Corp VA increased its stake in shares of Gray Television by 18.6% during the 1st quarter. Capital Management Corp VA now owns 3,670,410 shares of the company’s stock valued at $23,197,000 after acquiring an additional 575,527 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Gray Television by 7.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,221,487 shares of the company’s stock valued at $19,905,000 after acquiring an additional 160,500 shares during the last quarter. Tributary Capital Management LLC lifted its holdings in shares of Gray Television by 6.5% during the 1st quarter. Tributary Capital Management LLC now owns 1,324,621 shares of the company’s stock worth $8,372,000 after acquiring an additional 80,555 shares during the period. Finally, Clearbridge Investments LLC increased its position in Gray Television by 1.9% during the first quarter. Clearbridge Investments LLC now owns 1,307,308 shares of the company’s stock worth $8,262,000 after purchasing an additional 23,878 shares during the last quarter. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Benchmark upped their price objective on Gray Television from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Wells Fargo & Company upped their price target on Gray Television from $5.50 to $6.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 8th. Finally, Loop Capital raised Gray Television to a “strong-buy” rating in a research note on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Gray Television currently has an average rating of “Hold” and a consensus target price of $11.40.

Gray Television Stock Up 3.0 %

Shares of GTN opened at $6.28 on Friday. The business’s fifty day moving average price is $5.45 and its 200 day moving average price is $6.49. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.42 and a current ratio of 1.42. Gray Television, Inc. has a 12-month low of $4.39 and a 12-month high of $10.69.

Gray Television (NYSE:GTN) last issued its earnings results on Tuesday, May 7th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.25. Gray Television had a return on equity of 2.13% and a net margin of 1.30%. The company had revenue of $823.00 million during the quarter, compared to the consensus estimate of $824.98 million. During the same period in the previous year, the firm posted ($0.48) earnings per share. Gray Television’s quarterly revenue was up 2.7% compared to the same quarter last year. Research analysts anticipate that Gray Television, Inc. will post 5.15 earnings per share for the current fiscal year.

Gray Television Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.08 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.32 annualized dividend and a dividend yield of 5.10%. Gray Television’s payout ratio is -266.67%.

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.