Gray Television, Inc. (NYSE:GTN) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its holdings in shares of Gray Television, Inc. (NYSE:GTN - Free Report) by 17.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,265,667 shares of the company's stock after purchasing an additional 185,429 shares during the quarter. New York State Common Retirement Fund owned about 1.33% of Gray Television worth $11,340,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in Gray Television by 23.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,060,987 shares of the company's stock worth $14,262,000 after acquiring an additional 386,907 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Gray Television in the 4th quarter worth approximately $964,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Gray Television in the 3rd quarter worth approximately $1,693,000. Darsana Capital Partners LP increased its stake in Gray Television by 336.8% in the 3rd quarter. Darsana Capital Partners LP now owns 4,000,441 shares of the company's stock worth $27,683,000 after acquiring an additional 3,084,578 shares during the last quarter. Finally, Capital Management Corp VA increased its stake in Gray Television by 27.2% in the 4th quarter. Capital Management Corp VA now owns 3,094,883 shares of the company's stock worth $27,730,000 after acquiring an additional 661,760 shares during the last quarter. Institutional investors own 78.64% of the company's stock.

Analyst Upgrades and Downgrades

GTN has been the topic of a number of research reports. Wells Fargo & Company lifted their price objective on Gray Television from $6.00 to $7.00 and gave the stock an "underweight" rating in a research note on Friday, February 9th. Barrington Research reissued a "market perform" rating on shares of Gray Television in a research report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $12.80.

Gray Television Trading Up 4.3 %

Shares of NYSE GTN traded up $0.25 during trading hours on Wednesday, hitting $6.00. 873,692 shares of the company traded hands, compared to its average volume of 1,134,693. The company's 50 day moving average price is $5.94 and its 200 day moving average price is $7.40. Gray Television, Inc. has a 12 month low of $5.44 and a 12 month high of $10.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 3.12. The stock has a market capitalization of $583.20 million, a price-to-earnings ratio of -4.22, a price-to-earnings-growth ratio of 0.14 and a beta of 1.57.

Gray Television (NYSE:GTN - Get Free Report) last posted its quarterly earnings data on Friday, February 23rd. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.08). Gray Television had a negative net margin of 2.32% and a negative return on equity of 3.76%. The business had revenue of $864.00 million for the quarter, compared to analysts' expectations of $863.31 million. During the same quarter in the previous year, the firm earned $1.88 EPS. Gray Television's revenue was down 19.4% compared to the same quarter last year. On average, equities research analysts anticipate that Gray Television, Inc. will post 4.21 earnings per share for the current fiscal year.

Gray Television Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 5.33%. The ex-dividend date of this dividend was Thursday, March 14th. Gray Television's dividend payout ratio is currently -23.02%.

Insider Activity at Gray Television

In other Gray Television news, CEO Hilton H. Howell, Jr. purchased 10,000 shares of the stock in a transaction on Thursday, March 28th. The shares were bought at an average price of $8.09 per share, for a total transaction of $80,900.00. Following the completion of the transaction, the chief executive officer now owns 2,982,386 shares of the company's stock, valued at approximately $24,127,502.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 13.83% of the stock is currently owned by corporate insiders.

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.