Gray Television, Inc. (NYSE:GTN - Get Free Report) EVP Kevin Paul Latek sold 150,216 shares of the business's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $4.37, for a total transaction of $656,443.92. Following the completion of the sale, the executive vice president now directly owns 509,212 shares in the company, valued at approximately $2,225,256.44. This represents a 22.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Gray Television Price Performance
NYSE:GTN opened at $4.34 on Wednesday. Gray Television, Inc. has a 12-month low of $3.95 and a 12-month high of $10.07. The firm has a market capitalization of $432.07 million, a price-to-earnings ratio of 2.89, a P/E/G ratio of 0.15 and a beta of 1.36. The stock's 50 day moving average price is $5.15 and its two-hundred day moving average price is $5.22. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.76.
Gray Television (NYSE:GTN - Get Free Report) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.86 earnings per share for the quarter, missing analysts' consensus estimates of $0.94 by ($0.08). Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The business had revenue of $950.00 million during the quarter, compared to the consensus estimate of $967.49 million. During the same quarter last year, the company posted ($0.57) EPS. The firm's revenue was up 18.3% on a year-over-year basis. On average, analysts anticipate that Gray Television, Inc. will post 2.88 earnings per share for the current year.
Gray Television Announces Dividend
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The business also recently announced 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. This represents a $0.32 annualized dividend and a dividend yield of 7.38%. The ex-dividend date is Friday, December 13th. Gray Television's payout ratio is 21.33%.
Analyst Ratings Changes
A number of research firms have recently commented on GTN. Benchmark reduced their price objective on shares of Gray Television from $11.00 to $8.00 and set a "buy" rating for the company in a research note on Monday, November 11th. Barrington Research raised Gray Television to a "hold" rating in a research report on Thursday, November 14th. Guggenheim decreased their price target on Gray Television from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Tuesday, November 12th. StockNews.com upgraded Gray Television from a "sell" rating to a "hold" rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company decreased their target price on shares of Gray Television from $6.00 to $4.00 and set an "underweight" rating for the company in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.67.
Check Out Our Latest Stock Report on Gray Television
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Management Corp VA boosted its stake in 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 period. Vanguard Group Inc. boosted its position in shares of 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 acquiring an additional 506,106 shares during the period. GSA Capital Partners LLP grew its stake in shares of Gray Television by 287.9% in the third quarter. GSA Capital Partners LLP now owns 232,832 shares of the company's stock valued at $1,248,000 after acquiring an additional 172,801 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Gray Television during the second quarter worth about $881,000. Finally, Barclays PLC raised its stake in Gray Television by 114.4% in the 3rd quarter. Barclays PLC now owns 272,272 shares of the company's stock worth $1,460,000 after purchasing an additional 145,263 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company's stock.
Gray Television Company Profile
(
Get Free Report)
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.
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