Piermont Capital Management Inc. cut its holdings in Gray Television, Inc. (NYSE:GTN) by 7.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 155,752 shares of the company’s stock after selling 12,110 shares during the quarter. Gray Television makes up 1.1% of Piermont Capital Management Inc.’s holdings, making the stock its 28th biggest holding. Piermont Capital Management Inc. owned approximately 0.18% of Gray Television worth $2,726,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in GTN. UBS Group AG boosted its stake in Gray Television by 1,342.0% in the first quarter. UBS Group AG now owns 37,909 shares of the company’s stock valued at $481,000 after buying an additional 35,280 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Gray Television by 21.8% in the first quarter. The Manufacturers Life Insurance Company now owns 59,849 shares of the company’s stock valued at $760,000 after purchasing an additional 10,723 shares during the last quarter. California State Teachers Retirement System raised its position in Gray Television by 21.3% in the first quarter. California State Teachers Retirement System now owns 122,481 shares of the company’s stock valued at $1,556,000 after purchasing an additional 21,545 shares during the last quarter. Guggenheim Capital LLC raised its position in Gray Television by 1,403.0% in the first quarter. Guggenheim Capital LLC now owns 151,335 shares of the company’s stock valued at $1,921,000 after purchasing an additional 141,266 shares during the last quarter. Finally, Xact Kapitalforvaltning AB bought a new position in Gray Television in the first quarter valued at about $187,000. 88.60% of the stock is currently owned by institutional investors and hedge funds.
Gray Television stock opened at $19.66 on Friday. The company has a quick ratio of 4.69, a current ratio of 6.32 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 0.91 and a beta of 2.23. Gray Television, Inc. has a 12 month low of $10.70 and a 12 month high of $20.24.
Gray Television (NYSE:GTN) last posted its earnings results on Tuesday, November 6th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.61 by $0.09. Gray Television had a return on equity of 14.95% and a net margin of 29.12%. The firm had revenue of $279.00 million during the quarter, compared to the consensus estimate of $276.52 million. During the same period last year, the company earned $0.21 earnings per share. The business’s quarterly revenue was up 27.4% on a year-over-year basis. On average, research analysts anticipate that Gray Television, Inc. will post 2.18 EPS for the current year.
Several equities analysts have commented on the company. ValuEngine upgraded Gray Television from a “hold” rating to a “buy” rating in a research report on Monday, October 22nd. Noble Financial reiterated a “buy” rating on shares of Gray Television in a research report on Wednesday. Barrington Research reiterated an “outperform” rating on shares of Gray Television in a research report on Monday, July 16th. Zacks Investment Research downgraded Gray Television from a “buy” rating to a “hold” rating in a research report on Thursday, September 6th. Finally, Benchmark increased their target price on Gray Television from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $22.25.
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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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