Point72 Asset Management L.P. trimmed its holdings in shares of Gray Television, Inc. (NYSE:GTN) by 60.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 812,200 shares of the company’s stock after selling 1,225,156 shares during the period. Point72 Asset Management L.P. owned about 0.90% of Gray Television worth $10,315,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Element Capital Management LLC purchased a new position in shares of Gray Television during the 1st quarter worth approximately $146,000. Guggenheim Capital LLC purchased a new position in shares of Gray Television during the 4th quarter worth approximately $167,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Gray Television during the 1st quarter worth approximately $167,000. Tower Research Capital LLC TRC increased its stake in shares of Gray Television by 77.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,758 shares of the company’s stock worth $180,000 after purchasing an additional 4,706 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Gray Television during the 4th quarter worth approximately $204,000. 79.46% of the stock is owned by institutional investors and hedge funds.
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A number of research analysts have recently weighed in on the stock. ValuEngine cut shares of Gray Television from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. TheStreet cut shares of Gray Television from a “b-” rating to a “c” rating in a research note on Thursday, April 26th. Zacks Investment Research cut shares of Gray Television from a “buy” rating to a “hold” rating in a research note on Tuesday, May 29th. Guggenheim reissued a “buy” rating and set a $20.00 price objective on shares of Gray Television in a research note on Thursday, March 1st. Finally, Noble Financial reissued a “buy” rating on shares of Gray Television in a research note on Monday, March 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $18.29.
Shares of Gray Television opened at $12.10 on Tuesday, according to MarketBeat.com. Gray Television, Inc. has a 1 year low of $10.70 and a 1 year high of $17.80. The company has a market cap of $1.07 billion, a P/E ratio of 10.90, a PEG ratio of 1.05 and a beta of 2.50. The company has a current ratio of 6.46, a quick ratio of 6.46 and a debt-to-equity ratio of 1.85.
Gray Television (NYSE:GTN) last announced its earnings results on Tuesday, May 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.07. Gray Television had a net margin of 29.97% and a return on equity of 11.06%. The firm had revenue of $226.26 million for the quarter, compared to analyst estimates of $225.41 million. During the same quarter last year, the business earned $0.14 earnings per share. Gray Television’s revenue was up 11.2% compared to the same quarter last year. sell-side analysts anticipate that Gray Television, Inc. will post 1.93 earnings per share for the current 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 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.