Arcadia Investment Management Corp MI Sells 138,092 Shares of Gray Television, Inc. (NYSE:GTN)

Arcadia Investment Management Corp MI trimmed its position in Gray Television, Inc. (NYSE:GTN) by 90.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,350 shares of the company’s stock after selling 138,092 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Gray Television were worth $48,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GTN. Creative Planning purchased a new stake in Gray Television in the 3rd quarter worth approximately $56,000. Wilmington Savings Fund Society FSB bought a new position in shares of Gray Television in the third quarter worth $59,000. MML Investors Services LLC bought a new stake in Gray Television during the third quarter valued at $65,000. EP Wealth Advisors LLC bought a new stake in Gray Television during the third quarter valued at $67,000. Finally, Choreo LLC grew its position in Gray Television by 60.0% during the fourth quarter. Choreo LLC now owns 26,827 shares of the company’s stock worth $81,000 after buying an additional 10,058 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on GTN. Benchmark lowered their price target on Gray Television from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Barrington Research raised shares of Gray Television to a “hold” rating in a research note on Thursday, November 14th. StockNews.com raised shares of Gray Television from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Guggenheim decreased their price target on shares of Gray Television from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $6.67.

Gray Television Price Performance

Shares of Gray Television stock opened at $3.82 on Friday. The firm has a market capitalization of $380.24 million, a PE ratio of 2.54 and a beta of 1.41. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.76. Gray Television, Inc. has a 12 month low of $2.91 and a 12 month high of $8.05. The business’s 50-day moving average price is $3.54 and its 200-day moving average price is $4.45.

Insider Buying and Selling at Gray Television

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 shares were 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 $2,225,256.44. This represents a 22.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 4.80% of the company’s stock.

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.