UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stock Position in Gray Television, Inc. (NYSE:GTN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Gray Television, Inc. (NYSE:GTN - Free Report) by 49.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 about 0.36% of Gray Television worth $1,125,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Voleon Capital Management LP bought a new position in Gray Television during the fourth quarter worth about $32,000. Ameriprise Financial Inc. acquired a new position in shares of Gray Television during the 4th quarter worth approximately $33,000. Boothbay Fund Management LLC acquired a new position in shares of Gray Television during the 4th quarter worth approximately $34,000. Federated Hermes Inc. boosted its stake in shares of Gray Television by 214,100.0% during 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 bought a new position in shares of Gray Television during the 4th quarter worth approximately $43,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Gray Television Trading Down 2.0%

Shares of NYSE:GTN traded down $0.08 during trading on Friday, reaching $3.83. The company's stock had a trading volume of 931,565 shares, compared to its average volume of 1,446,130. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.76. Gray Television, Inc. has a 12 month low of $2.91 and a 12 month high of $6.61. The firm's 50 day simple moving average is $3.76 and its two-hundred day simple moving average is $3.81. The stock has a market capitalization of $388.91 million, a PE ratio of 2.55 and a beta of 1.16.

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

Gray Television Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 8.36%. Gray Television's payout ratio is 13.85%.

Analysts Set New Price Targets

Several analysts recently issued reports on GTN shares. Benchmark reduced their price target on Gray Television from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Wall Street Zen lowered Gray Television from a "hold" rating to a "sell" rating in a report on Monday, May 12th. Guggenheim decreased their price target 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, Wells Fargo & Company lifted their price target 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Gray Television currently has a consensus rating of "Hold" and an average target price of $6.17.

Insider Activity at Gray Television

In other news, CFO Jeffrey R. Gignac bought 12,500 shares of the stock in a transaction dated Thursday, June 5th. The shares were acquired at an average price of $3.68 per share, with a total value of $46,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 644,599 shares in the company, valued at approximately $2,372,124.32. The trade was a 1.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 15.22% of the company's stock.

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.