Jane Street Group LLC Acquires 180,001 Shares of Gray Television, Inc. (NYSE:GTN)

Jane Street Group LLC increased its holdings in Gray Television, Inc. (NYSE:GTN - Free Report) by 91.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 376,697 shares of the company's stock after buying an additional 180,001 shares during the quarter. Jane Street Group LLC owned about 0.38% of Gray Television worth $1,187,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Voleon Capital Management LP acquired a new stake in shares of Gray Television in the 4th quarter worth approximately $32,000. Boothbay Fund Management LLC acquired a new position in Gray Television during the fourth quarter worth about $34,000. Federated Hermes Inc. raised its position in Gray Television by 214,100.0% in the fourth quarter. Federated Hermes Inc. now owns 12,852 shares of the company's stock worth $40,000 after acquiring an additional 12,846 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Gray Television in the 4th quarter valued at about $43,000. Finally, RPO LLC bought a new position in shares of Gray Television during the 4th quarter valued at about $46,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Gray Television Trading Up 4.0%

Shares of Gray Television stock traded up $0.15 during trading on Monday, hitting $3.92. The stock had a trading volume of 1,927,372 shares, compared to its average volume of 1,451,809. Gray Television, Inc. has a 1 year low of $2.91 and a 1 year high of $6.61. The stock has a 50 day simple moving average of $3.88 and a 200 day simple moving average of $3.85. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.76. The company has a market capitalization of $398.05 million, a PE ratio of 2.61 and a beta of 1.15.

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

Gray Television Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 yield of 8.16%. The ex-dividend date is Friday, June 13th. Gray Television's payout ratio is 13.85%.

Insider Buying and Selling

In other Gray Television news, Director Richard Lee Boger sold 16,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $3.85, for a total value of $61,600.00. Following the completion of the sale, the director now owns 55,347 shares in the company, valued at $213,085.95. This represents a 22.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 15.22% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on GTN. Wall Street Zen downgraded shares of Gray Television from a "hold" rating to a "sell" rating in a report on Monday, May 12th. Benchmark dropped their price target on Gray Television from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. 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 note on Monday, March 10th. Finally, Wells Fargo & Company boosted their target price on Gray Television from $4.00 to $4.50 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target 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.