Gray Television, Inc. (NYSE:GTN) Shares Bought by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC boosted its stake in shares of Gray Television, Inc. (NYSE:GTN) by 15.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 108,796 shares of the company’s stock after buying an additional 14,871 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Gray Television were worth $343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GTN. Capital Management Corp VA lifted its stake in shares of Gray Television by 27.6% in the 3rd quarter. Capital Management Corp VA now owns 5,408,269 shares of the company’s stock valued at $28,988,000 after purchasing an additional 1,170,990 shares during the last quarter. GSA Capital Partners LLP lifted its stake in shares of Gray Television by 287.9% in the 3rd quarter. GSA Capital Partners LLP now owns 232,832 shares of the company’s stock valued at $1,248,000 after purchasing an additional 172,801 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Gray Television in the 2nd quarter valued at $881,000. Barclays PLC lifted its stake in shares of Gray Television by 114.4% in the 3rd quarter. Barclays PLC now owns 272,272 shares of the company’s stock valued at $1,460,000 after purchasing an additional 145,263 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its stake in shares of Gray Television by 454.2% in the 2nd quarter. Squarepoint Ops LLC now owns 142,541 shares of the company’s stock valued at $741,000 after purchasing an additional 116,821 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Insiders Place Their Bets

In other Gray Television news, EVP Kevin Paul Latek sold 150,216 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $4.37, for a total transaction of $656,443.92. Following the sale, the executive vice president now owns 509,212 shares in the company, valued at $2,225,256.44. This represents a 22.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Barrington Research raised Gray Television to a “hold” rating in a research note on Thursday, November 14th. Benchmark decreased their price target on Gray Television from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Guggenheim cut their price objective on Gray Television from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Finally, StockNews.com upgraded Gray Television from a “sell” rating to a “hold” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.67.

Gray Television Price Performance

GTN stock opened at $3.72 on Monday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.76. The company has a market capitalization of $370.27 million, a PE ratio of 2.48 and a beta of 1.39. Gray Television, Inc. has a 12-month low of $2.91 and a 12-month high of $10.07. The business’s fifty day moving average price is $3.67 and its 200 day moving average price is $4.70.

Gray Television (NYSE:GTN) last issued its quarterly 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 company had revenue of $950.00 million for the quarter, compared to analysts’ expectations of $967.49 million. During the same quarter last year, the company earned ($0.57) EPS. Gray Television’s revenue for the quarter was up 18.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Gray Television, Inc. will post 3.06 EPS for the current year.

Gray Television Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 8.61%. Gray Television’s dividend payout ratio (DPR) is 21.33%.

About Gray Television

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.