Cubist Systematic Strategies LLC Has $921,000 Stock Holdings in Gray Television, Inc. (NYSE:GTN)

Cubist Systematic Strategies LLC lifted its stake in shares of Gray Television, Inc. (NYSE:GTN - Free Report) by 1,377.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 292,335 shares of the company's stock after purchasing an additional 272,553 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.29% of Gray Television worth $921,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Voleon Capital Management LP bought a new position in Gray Television during the 4th quarter worth $32,000. Ameriprise Financial Inc. acquired a new position in shares of Gray Television during the fourth quarter valued at $33,000. Boothbay Fund Management LLC bought a new position in shares of Gray Television during the fourth quarter worth about $34,000. Federated Hermes Inc. increased its holdings in shares of Gray Television by 214,100.0% in the 4th quarter. Federated Hermes Inc. now owns 12,852 shares of the company's stock worth $40,000 after acquiring an additional 12,846 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Gray Television in the 4th quarter worth about $43,000. Institutional investors own 78.64% of the company's stock.

Insider Transactions at Gray Television

In related news, Director Richard Lee Boger sold 16,000 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $3.85, for a total transaction of $61,600.00. Following the completion of the transaction, the director now owns 55,347 shares of the company's stock, valued at $213,085.95. This trade represents a 22.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 15.22% of the company's stock.

Gray Television Price Performance

Shares of GTN stock traded down $0.07 during midday trading on Friday, reaching $4.05. 1,148,542 shares of the company were exchanged, compared to its average volume of 1,461,160. The company's 50 day moving average price is $3.96 and its two-hundred day moving average price is $3.94. The company has a market cap of $410.74 million, a P/E ratio of 2.70 and a beta of 1.15. Gray Television, Inc. has a 12 month low of $2.91 and a 12 month high of $6.64. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.13 and a current ratio of 1.13.

Gray Television (NYSE:GTN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.23) EPS for the quarter, beating analysts' consensus estimates of ($0.49) by $0.26. The business had revenue of $782.00 million for the quarter, compared to analyst estimates of $772.71 million. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The business's revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter last year, the business earned $0.79 earnings per share. On average, sell-side analysts expect that Gray Television, Inc. will post 3.32 earnings per share for the current year.

Gray Television Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 7.91%. The ex-dividend date is Friday, June 13th. Gray Television's dividend payout ratio (DPR) is presently 13.85%.

Analysts Set New Price Targets

Several research firms have commented on GTN. Wells Fargo & Company upped their target price on shares of Gray Television from $4.00 to $4.50 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Guggenheim reduced their price objective on Gray Television from $8.00 to $7.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Benchmark lowered their target price on Gray Television from $8.00 to $7.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, StockNews.com lowered Gray Television from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Gray Television currently has a consensus rating of "Hold" and an average target price of $6.17.

Gray Television Company Profile

Gray Television, Inc, a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It also broadcasts secondary digital channels affiliated to ABC, CBS, NBC, and FOX, as well as various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Circle, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.