Graham Capital Management L.P. Invests $584,000 in Gray Television, Inc. (NYSE:GTN)

Graham Capital Management L.P. purchased a new stake in Gray Television, Inc. (NYSE:GTN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 185,391 shares of the company's stock, valued at approximately $584,000. Graham Capital Management L.P. owned about 0.19% of Gray Television at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GTN. Voleon Capital Management LP acquired a new stake in shares of Gray Television during the fourth quarter worth about $32,000. Ameriprise Financial Inc. purchased a new position in shares of Gray Television during the fourth quarter worth approximately $33,000. Boothbay Fund Management LLC acquired a new position in shares of Gray Television in the 4th quarter valued at $34,000. Federated Hermes Inc. raised 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 purchasing an additional 12,846 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Gray Television in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 78.64% of the company's stock.

Wall Street Analysts Forecast Growth

GTN has been the topic of several recent research reports. StockNews.com cut Gray Television from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. Benchmark cut their price objective on shares of Gray Television from $8.00 to $7.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Wells Fargo & Company raised their target price on Gray Television from $4.00 to $4.50 and gave the company an "equal weight" rating in a report on Monday, May 12th. Finally, Guggenheim lowered their target price on Gray Television from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $6.17.

Gray Television Stock Down 2.5%

NYSE:GTN traded down $0.10 on Monday, reaching $3.94. The stock had a trading volume of 846,544 shares, compared to its average volume of 1,458,707. The company has a 50-day moving average of $3.96 and a 200 day moving average of $3.92. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.76. The stock has a market cap of $400.08 million, a P/E ratio of 2.63 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.

Gray Television (NYSE:GTN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.26. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The business had revenue of $782.00 million for the quarter, compared to analysts' expectations of $772.71 million. During the same quarter in the previous year, the firm posted $0.79 earnings per share. The company'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 earnings per share for the current year.

Gray Television Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 8.12%. The ex-dividend date of this dividend is Friday, June 13th. Gray Television's payout ratio is currently 13.85%.

Insider Buying and Selling

In other Gray Television news, Director Richard Lee Boger sold 16,000 shares of the firm's stock in a transaction on Friday, February 28th. The shares were 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 directly owns 55,347 shares of the company's stock, valued at $213,085.95. This trade represents a 22.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.