Gray Television, Inc. (NYSE:GTN) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Gray Television, Inc. (NYSE:GTN - Free Report) by 49.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 357,198 shares of the company's stock after buying an additional 117,827 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.36% of Gray Television worth $1,125,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Capital Management Corp VA lifted its holdings in Gray Television by 6.6% in the fourth quarter. Capital Management Corp VA now owns 5,763,336 shares of the company's stock valued at $18,155,000 after acquiring an additional 355,067 shares during the period. Miller Value Partners LLC increased its holdings in Gray Television by 132.1% during the fourth quarter. Miller Value Partners LLC now owns 3,384,450 shares of the company's stock valued at $10,661,000 after buying an additional 1,926,330 shares during the last quarter. Marshall Wace LLP raised its position in Gray Television by 52.6% in the fourth quarter. Marshall Wace LLP now owns 1,161,862 shares of the company's stock worth $3,660,000 after acquiring an additional 400,274 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Gray Television by 10.1% during the 4th quarter. Bank of New York Mellon Corp now owns 970,615 shares of the company's stock worth $3,057,000 after acquiring an additional 89,385 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Gray Television by 7.8% during the 4th quarter. Northern Trust Corp now owns 846,849 shares of the company's stock valued at $2,668,000 after acquiring an additional 61,562 shares during the period. Institutional investors own 78.64% of the company's stock.

Gray Television Price Performance

Shares of GTN stock traded down $0.01 during trading hours on Wednesday, hitting $4.05. The stock had a trading volume of 1,794,344 shares, compared to its average volume of 1,449,659. The stock's 50-day moving average price is $3.74 and its two-hundred day moving average price is $3.82. Gray Television, Inc. has a one year low of $2.91 and a one year high of $6.61. The stock has a market capitalization of $410.74 million, a price-to-earnings ratio of 2.70 and a beta of 1.16. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.13.

Gray Television (NYSE:GTN - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.23) EPS for the quarter, beating analysts' consensus estimates of ($0.49) by $0.26. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The firm had revenue of $782.00 million during the quarter, compared to the consensus estimate of $772.71 million. During the same period in the prior year, the company earned $0.79 EPS. The company's quarterly revenue was down 5.0% compared to the same quarter last year. Equities analysts forecast that Gray Television, Inc. will post 3.32 EPS for the current year.

Gray Television Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wall Street Zen cut Gray Television from a "hold" rating to a "sell" rating in a report on Monday, May 12th. Wells Fargo & Company raised their price target on Gray Television from $4.00 to $4.50 and gave the company an "equal weight" rating in a report on Monday, May 12th. Guggenheim cut 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. Finally, Benchmark decreased their target price on Gray Television from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Gray Television currently has a consensus rating of "Hold" and a consensus target price of $6.17.

Insider Activity at Gray Television

In related news, CFO Jeffrey R. Gignac bought 12,500 shares of Gray Television stock in a transaction dated Thursday, June 5th. The shares were acquired at an average cost of $3.68 per share, with a total value of $46,000.00. Following the completion of the transaction, the chief financial officer now owns 644,599 shares in the company, valued at $2,372,124.32. The trade was a 1.98% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 15.22% of the stock is currently owned by insiders.

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.