Oxford Asset Management LLP Takes Position in Gray Television, Inc. (NYSE:GTN)

Oxford Asset Management LLP bought a new position in Gray Television, Inc. (NYSE:GTN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 91,921 shares of the company's stock, valued at approximately $290,000. Oxford Asset Management LLP owned 0.09% of Gray Television as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in GTN. Barclays PLC raised its position in Gray Television by 114.4% during the third quarter. Barclays PLC now owns 272,272 shares of the company's stock worth $1,460,000 after acquiring an additional 145,263 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Gray Television by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,971,374 shares of the company's stock valued at $10,568,000 after acquiring an additional 57,481 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Gray Television during the third quarter valued at about $59,000. Franklin Resources Inc. grew its stake in Gray Television by 5.5% in the third quarter. Franklin Resources Inc. now owns 696,853 shares of the company's stock worth $3,951,000 after purchasing an additional 36,312 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its holdings in Gray Television by 15.8% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 108,796 shares of the company's stock worth $343,000 after acquiring an additional 14,871 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company's stock.

Insider Buying and Selling at Gray Television

In other news, Director Richard Lee Boger sold 16,000 shares of Gray Television stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $3.85, for a total transaction of $61,600.00. Following the sale, the director now owns 55,347 shares of the company's stock, valued at approximately $213,085.95. This trade represents a 22.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GTN. Wells Fargo & Company raised Gray Television from an "underweight" rating to an "equal weight" rating and set a $4.00 price target on the stock in a report on Monday, March 3rd. Guggenheim reduced their target price on Gray Television from $8.00 to $7.00 and set a "buy" rating for the company in a report on Monday, March 10th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $6.33.

Gray Television Stock Down 0.1 %

Gray Television stock traded down $0.01 during mid-day trading on Thursday, hitting $3.35. The company's stock had a trading volume of 1,487,744 shares, compared to its average volume of 1,420,003. The firm's 50 day moving average is $3.89 and its 200 day moving average is $4.08. The company has a market cap of $339.66 million, a PE ratio of 2.23 and a beta of 1.08. 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, Inc. has a 52-week low of $2.91 and a 52-week high of $7.41.

Gray Television (NYSE:GTN - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported $1.59 earnings per share for the quarter, hitting analysts' consensus estimates of $1.59. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. On average, analysts anticipate that Gray Television, Inc. will post 3.32 earnings per share for the current year.

Gray Television Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 9.57%. The ex-dividend date of this dividend was Friday, March 14th. Gray Television's dividend payout ratio (DPR) is currently 9.61%.

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.