GSA Capital Partners LLP Raises Stock Holdings in Gray Television, Inc. (NYSE:GTN)

GSA Capital Partners LLP grew its stake in Gray Television, Inc. (NYSE:GTN) by 287.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 232,832 shares of the company’s stock after buying an additional 172,801 shares during the quarter. GSA Capital Partners LLP owned approximately 0.23% of Gray Television worth $1,248,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new stake in Gray Television in the first quarter worth about $25,000. nVerses Capital LLC purchased a new stake in shares of Gray Television during the second quarter worth about $27,000. CWM LLC grew its position in shares of Gray Television by 733.1% during the second quarter. CWM LLC now owns 7,448 shares of the company’s stock worth $39,000 after purchasing an additional 6,554 shares in the last quarter. Creative Planning purchased a new stake in shares of Gray Television during the third quarter worth about $56,000. Finally, HBK Sorce Advisory LLC purchased a new stake in shares of Gray Television during the second quarter worth about $58,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Guggenheim cut 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. StockNews.com upgraded Gray Television from a “sell” rating to a “hold” rating in a research report on Monday. Wells Fargo & Company cut 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. Finally, Benchmark cut their price target on Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $6.67.

Gray Television Stock Performance

NYSE GTN opened at $4.79 on Friday. The stock 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 business has a 50 day simple moving average of $5.27 and a two-hundred day simple moving average of $5.43. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.63. Gray Television, Inc. has a 1-year low of $3.95 and a 1-year high of $10.07.

Gray Television (NYSE:GTN) last released 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). The firm had revenue of $950.00 million for the quarter, compared to analysts’ expectations of $967.49 million. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.57) EPS. On average, research analysts predict that Gray Television, Inc. will post 4.37 EPS for the current fiscal year.

Gray Television Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 6.68%. The ex-dividend date of this dividend is Friday, December 13th. Gray Television’s payout ratio 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.