Bailard Inc. purchased a new stake in shares of Gray Television, Inc. (NYSE:GTN) during the 4th quarter, Holdings Channel reports. The firm purchased 19,400 shares of the company’s stock, valued at approximately $325,000.
A number of other institutional investors have also recently bought and sold shares of GTN. SG Americas Securities LLC purchased a new stake in Gray Television during the 3rd quarter valued at about $163,000. Macquarie Group Ltd. purchased a new stake in Gray Television during the 3rd quarter valued at about $166,000. Stifel Financial Corp purchased a new stake in Gray Television during the 3rd quarter valued at about $175,000. Advisor Group Inc. grew its stake in Gray Television by 109.3% during the 3rd quarter. Advisor Group Inc. now owns 11,932 shares of the company’s stock valued at $187,000 after purchasing an additional 6,232 shares during the last quarter. Finally, Eqis Capital Management Inc. purchased a new stake in Gray Television during the 3rd quarter valued at about $201,000. Institutional investors and hedge funds own 68.37% of the company’s stock.
In other news, EVP Kevin Paul Latek sold 97,634 shares of the company’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $16.96, for a total value of $1,655,872.64. Following the sale, the executive vice president now owns 219,706 shares in the company, valued at $3,726,213.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.00% of the stock is owned by corporate insiders.
Shares of Gray Television, Inc. (GTN) opened at $15.00 on Monday. Gray Television, Inc. has a one year low of $11.70 and a one year high of $17.80. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 3.11. The company has a market capitalization of $1,347.77, a PE ratio of 13.16, a PEG ratio of 1.96 and a beta of 2.46.
Several research firms have weighed in on GTN. Benchmark reiterated a “buy” rating and set a $21.00 price target on shares of Gray Television in a research note on Thursday. Zacks Investment Research upgraded Gray Television from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Guggenheim set a $21.00 price target on Gray Television and gave the company a “buy” rating in a research note on Monday, January 22nd. ValuEngine downgraded Gray Television from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Jefferies Group initiated coverage on Gray Television in a research note on Thursday, December 14th. They set a “buy” rating and a $18.00 price target on the stock. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $18.57.
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Gray Television Profile
Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in various markets across the United States. As of February 21, 2017, the Company owned and/or operated television stations in 54 television markets broadcasting over 200 separate programming streams, including 37 affiliates of the CBS Network (CBS), 29 affiliates of the NBC Network (NBC), 20 affiliates of the ABC Network (ABC) and 15 affiliates of the FOX Network (FOX).
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