Gray Television, Inc. (NYSE:GTN) Shares Purchased by Marshall Wace LLP

Marshall Wace LLP raised its position in shares of Gray Television, Inc. (NYSE:GTN - Free Report) by 52.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,161,862 shares of the company's stock after buying an additional 400,274 shares during the quarter. Marshall Wace LLP owned about 1.17% of Gray Television worth $3,660,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Management Corp VA increased its position in Gray Television by 6.6% during the 4th quarter. Capital Management Corp VA now owns 5,763,336 shares of the company's stock valued at $18,155,000 after buying an additional 355,067 shares in the last quarter. State Street Corp boosted its position in Gray Television by 1.9% during the third quarter. State Street Corp now owns 2,009,896 shares of the company's stock worth $10,773,000 after acquiring an additional 36,541 shares during the last quarter. Geode Capital Management LLC grew its holdings in Gray Television by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,971,374 shares of the company's stock valued at $10,568,000 after buying an additional 57,481 shares in the last quarter. Bank of New York Mellon Corp grew its holdings 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 purchasing an additional 89,385 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Gray Television by 5.5% in the 3rd quarter. Franklin Resources Inc. now owns 696,853 shares of the company's stock valued at $3,951,000 after acquiring an additional 36,312 shares during the period. Hedge funds and other institutional investors own 78.64% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company upgraded shares of Gray Television from an "underweight" rating to an "equal weight" rating and set a $4.00 target price on the stock in a report on Monday, March 3rd. Guggenheim dropped their price target on Gray Television from $8.00 to $7.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $6.33.

Gray Television Price Performance

GTN traded up $0.02 during trading on Thursday, reaching $3.37. 463,320 shares of the stock were exchanged, compared to its average volume of 1,413,824. Gray Television, Inc. has a 1 year low of $2.91 and a 1 year high of $7.41. The company has a market capitalization of $341.69 million, a price-to-earnings ratio of 2.25 and a beta of 1.08. The business's 50 day moving average price is $3.89 and its two-hundred day moving average price is $4.08. 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, February 27th. The company reported $1.59 earnings per share for the quarter, meeting the consensus estimate of $1.59. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. As a group, equities research analysts anticipate 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 was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 9.51%. The ex-dividend date of this dividend was Friday, March 14th. Gray Television's payout ratio is 9.61%.

Insider Transactions at Gray Television

In related news, Director Richard Lee Boger sold 16,000 shares of the business's stock in a transaction dated 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 transaction, the director now owns 55,347 shares of the company's stock, valued at approximately $213,085.95. The trade was a 22.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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.