Capital Management Corp VA Purchases 661,760 Shares of Gray Television, Inc. (NYSE:GTN)

Capital Management Corp VA increased its position in Gray Television, Inc. (NYSE:GTN - Free Report) by 27.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,094,883 shares of the company's stock after buying an additional 661,760 shares during the period. Gray Television accounts for 5.4% of Capital Management Corp VA's portfolio, making the stock its largest holding. Capital Management Corp VA owned 3.24% of Gray Television worth $27,730,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in Gray Television by 23.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,060,987 shares of the company's stock worth $14,262,000 after buying an additional 386,907 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Gray Television during the fourth quarter valued at approximately $964,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Gray Television during the third quarter valued at approximately $1,693,000. Darsana Capital Partners LP grew its holdings in Gray Television by 336.8% during the third quarter. Darsana Capital Partners LP now owns 4,000,441 shares of the company's stock valued at $27,683,000 after purchasing an additional 3,084,578 shares during the last quarter. Finally, Swiss National Bank grew its holdings in Gray Television by 2.8% during the third quarter. Swiss National Bank now owns 181,800 shares of the company's stock valued at $1,258,000 after purchasing an additional 4,900 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on GTN shares. Wells Fargo & Company increased their price target on Gray Television from $6.00 to $7.00 and gave the company an "underweight" rating in a report on Friday, February 9th. Barrington Research reiterated a "market perform" rating on shares of Gray Television in a report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Gray Television has a consensus rating of "Hold" and an average price target of $12.80.

Insider Buying and Selling at Gray Television

In related news, CEO Hilton H. Howell, Jr. acquired 10,000 shares of the business's stock in a transaction on Thursday, March 28th. The stock was bought at an average cost of $8.09 per share, with a total value of $80,900.00. Following the completion of the acquisition, the chief executive officer now owns 2,982,386 shares in the company, valued at $24,127,502.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 4.80% of the company's stock.

Gray Television Stock Performance

Shares of Gray Television stock traded up $0.13 during midday trading on Friday, hitting $5.92. The company had a trading volume of 856,988 shares, compared to its average volume of 1,091,697. The business's 50 day simple moving average is $6.28 and its two-hundred day simple moving average is $7.41. The stock has a market cap of $575.42 million, a PE ratio of -4.26, a P/E/G ratio of 0.15 and a beta of 1.57. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.18 and a quick ratio of 1.18. Gray Television, Inc. has a 1-year low of $5.44 and a 1-year high of $10.69.

Gray Television (NYSE:GTN - Get Free Report) last announced its quarterly earnings data on Friday, February 23rd. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.08). The company had revenue of $864.00 million during the quarter, compared to analyst estimates of $863.31 million. Gray Television had a negative return on equity of 3.76% and a negative net margin of 2.32%. The company's revenue was down 19.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.88 EPS. As a group, equities analysts predict that Gray Television, Inc. will post 3.78 EPS for the current fiscal year.

Gray Television Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.08 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 5.41%. Gray Television's dividend payout ratio (DPR) is currently -23.02%.

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.