Gray Television (GTN) Shares Bought by GW&K Investment Management LLC

GW&K Investment Management LLC raised its stake in Gray Television (NYSE:GTN) by 40.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,195 shares of the company’s stock after buying an additional 4,660 shares during the period. GW&K Investment Management LLC’s holdings in Gray Television were worth $206,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Gray Television by 11.6% during the 4th quarter. BlackRock Inc. now owns 4,535,908 shares of the company’s stock valued at $75,976,000 after purchasing an additional 471,337 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Gray Television by 1.6% during the 1st quarter. Victory Capital Management Inc. now owns 2,496,878 shares of the company’s stock valued at $31,711,000 after purchasing an additional 39,196 shares during the last quarter. Clearbridge LLC grew its holdings in shares of Gray Television by 7.1% during the 4th quarter. Clearbridge LLC now owns 2,034,954 shares of the company’s stock valued at $34,085,000 after purchasing an additional 134,960 shares during the last quarter. Penn Capital Management Co. Inc. grew its holdings in shares of Gray Television by 8.5% during the 4th quarter. Penn Capital Management Co. Inc. now owns 1,546,256 shares of the company’s stock valued at $26,053,000 after purchasing an additional 120,748 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Gray Television by 143.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,022,406 shares of the company’s stock valued at $17,124,000 after purchasing an additional 603,009 shares during the last quarter. 84.08% of the stock is currently owned by institutional investors.

Several equities analysts recently commented on the stock. Noble Financial reaffirmed a “buy” rating on shares of Gray Television in a report on Thursday, May 10th. Zacks Investment Research lowered shares of Gray Television from a “hold” rating to a “sell” rating in a report on Wednesday, May 9th. Benchmark reaffirmed a “buy” rating and set a $20.00 target price on shares of Gray Television in a report on Thursday, May 3rd. ValuEngine lowered shares of Gray Television from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, TheStreet lowered shares of Gray Television from a “b-” rating to a “c” rating in a report on Thursday, April 26th. Two investment analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $18.86.

In other news, major shareholder Harriett J. Robinson purchased 8,214 shares of the business’s stock in a transaction on Thursday, March 15th. The shares were acquired at an average price of $11.60 per share, with a total value of $95,282.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.98% of the stock is owned by company insiders.

Shares of Gray Television opened at $11.60 on Friday, MarketBeat Ratings reports. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 0.97 and a beta of 2.49. Gray Television has a 12-month low of $10.70 and a 12-month high of $17.80. The company has a debt-to-equity ratio of 1.85, a quick ratio of 6.46 and a current ratio of 6.46.

Gray Television (NYSE:GTN) last announced its quarterly earnings results on Tuesday, May 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. The business had revenue of $226.26 million for the quarter, compared to analyst estimates of $225.41 million. Gray Television had a net margin of 29.97% and a return on equity of 11.06%. The company’s revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 EPS. research analysts expect that Gray Television will post 1.99 earnings per share for the current fiscal year.

Gray Television Profile

Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 23, 2018, the company owned and operated television stations in 57 television markets broadcasting approximately 200 program streams, including approximately 100 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.

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Institutional Ownership by Quarter for Gray Television (NYSE:GTN)

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