Oxford Asset Management LLP Takes $290,000 Position in Gray Television, Inc. (NYSE:GTN)

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

Several other institutional investors have also recently made changes to their positions in GTN. Dynamic Technology Lab Private Ltd bought a new position in shares of Gray Television in the fourth quarter valued at $425,000. Barclays PLC grew its position in shares of Gray Television by 114.4% in the 3rd quarter. Barclays PLC now owns 272,272 shares of the company's stock valued at $1,460,000 after acquiring an additional 145,263 shares during the period. EntryPoint Capital LLC increased its stake in shares of Gray Television by 925.7% during the 4th quarter. EntryPoint Capital LLC now owns 169,670 shares of the company's stock worth $534,000 after purchasing an additional 153,128 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Gray Television in the 4th quarter valued at about $324,000. Finally, Norges Bank bought a new stake in shares of Gray Television in the 4th quarter valued at about $2,170,000. Institutional investors and hedge funds own 78.64% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. 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 research 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 note on Monday, March 10th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $6.33.

Insider Buying and Selling

In other Gray Television news, Director Richard Lee Boger sold 16,000 shares of Gray Television stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $3.85, for a total value of $61,600.00. Following the transaction, the director now owns 55,347 shares in the company, valued at $213,085.95. The trade was a 22.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 15.22% of the stock is owned by company insiders.

Gray Television Stock Performance

Shares of NYSE:GTN traded up $0.37 during trading on Friday, reaching $3.71. 1,749,109 shares of the stock were exchanged, compared to its average volume of 1,425,933. The firm has a market cap of $376.72 million, a PE ratio of 2.47 and a beta of 1.15. The stock has a 50-day moving average price of $3.87 and a 200-day moving average price of $4.04. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.76. Gray Television, Inc. has a 12 month low of $2.91 and a 12 month high of $7.41.

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

Gray Television Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 8.63%. The ex-dividend date 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.