D. E. Shaw & Co. Inc. Acquires New Stake in Gray Television, Inc. (NYSE:GTN)

D. E. Shaw & Co. Inc. acquired a new position in shares of Gray Television, Inc. (NYSE:GTN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 127,677 shares of the company's stock, valued at approximately $402,000. D. E. Shaw & Co. Inc. owned about 0.13% of Gray Television at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Voleon Capital Management LP acquired a new stake in shares of Gray Television during the 4th quarter worth about $32,000. Ameriprise Financial Inc. acquired a new stake in shares of Gray Television during the 4th quarter worth about $33,000. Boothbay Fund Management LLC acquired a new position in Gray Television in the 4th quarter valued at about $34,000. Federated Hermes Inc. grew its position in Gray Television by 214,100.0% in the 4th quarter. Federated Hermes Inc. now owns 12,852 shares of the company's stock valued at $40,000 after acquiring an additional 12,846 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Gray Television in the 4th quarter valued at about $43,000. 78.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on GTN. Wells Fargo & Company lifted their target price on Gray Television from $4.00 to $4.50 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Guggenheim dropped their target price 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 dropped their target price on Gray Television from $8.00 to $7.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Finally, Wall Street Zen downgraded Gray Television from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Gray Television presently has an average rating of "Hold" and a consensus target price of $6.17.

Gray Television Price Performance

NYSE:GTN traded down $0.03 during trading hours on Friday, hitting $3.98. The company's stock had a trading volume of 1,288,839 shares, compared to its average volume of 1,450,553. The business's 50-day moving average is $3.80 and its two-hundred day moving average is $3.85. The company has a market capitalization of $404.14 million, a PE ratio of 2.65 and a beta of 1.15. 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, Inc. has a 52-week low of $2.91 and a 52-week high of $6.61.

Gray Television (NYSE:GTN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.26. The firm had revenue of $782.00 million during the quarter, compared to analysts' expectations of $772.71 million. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. Gray Television's revenue was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.79 earnings per share. As a group, research analysts anticipate that Gray Television, Inc. will post 3.32 EPS for the current fiscal 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 $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 8.04%. The ex-dividend date of this dividend is Friday, June 13th. Gray Television's dividend payout ratio is currently 13.85%.

Gray Television 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.