Vaughan Nelson Investment Management L.P. Makes New $26.01 Million Investment in Gray Television, Inc. (NYSE:GTN)

Vaughan Nelson Investment Management L.P. purchased a new position in shares of Gray Television, Inc. (NYSE:GTN) during the 3rd quarter, Holdings Channel reports. The fund purchased 1,593,613 shares of the company’s stock, valued at approximately $26,008,000.

Other large investors have also modified their holdings of the company. Denali Advisors LLC acquired a new position in shares of Gray Television during the 2nd quarter worth approximately $334,000. Copper Rock Capital Partners LLC acquired a new stake in shares of Gray Television in the 2nd quarter worth $19,850,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Gray Television in the 2nd quarter worth $437,000. New York State Teachers Retirement System acquired a new stake in shares of Gray Television in the 2nd quarter worth $115,000. Finally, Cascade Investment Advisors Inc. increased its stake in shares of Gray Television by 3.3% in the 2nd quarter. Cascade Investment Advisors Inc. now owns 64,150 shares of the company’s stock worth $1,051,000 after acquiring an additional 2,040 shares during the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

GTN has been the subject of a number of recent research reports. Zacks Investment Research raised Gray Television from a “sell” rating to a “hold” rating in a research note on Tuesday, October 15th. ValuEngine raised Gray Television from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Wells Fargo & Co assumed coverage on Gray Television in a report on Monday, September 23rd. They set an “outperform” rating and a $21.00 price target for the company. TheStreet upgraded Gray Television from a “c+” rating to a “b-” rating in a report on Wednesday, September 11th. Finally, Stephens set a $27.00 price target on Gray Television and gave the stock a “buy” rating in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Gray Television has a consensus rating of “Buy” and a consensus price target of $23.20.

Shares of NYSE GTN traded down $0.01 during mid-day trading on Thursday, reaching $19.27. 461,753 shares of the company’s stock were exchanged, compared to its average volume of 703,236. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 7.93, a PEG ratio of 2.98 and a beta of 2.05. The company has a debt-to-equity ratio of 2.80, a quick ratio of 2.70 and a current ratio of 2.70. Gray Television, Inc. has a 52-week low of $13.60 and a 52-week high of $25.31. The company’s 50-day moving average is $16.54 and its 200-day moving average is $17.13.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.21. The business had revenue of $517.00 million during the quarter, compared to analysts’ expectations of $513.80 million. Gray Television had a return on equity of 16.93% and a net margin of 8.56%. The company’s revenue was up 85.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 EPS. As a group, equities analysts predict that Gray Television, Inc. will post 0.66 earnings per share for the current fiscal year.

About Gray Television

Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 28, 2019, it owned and operated television stations in 91 television markets broadcasting approximately 400 program streams, including approximately 150 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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