Schonfeld Strategic Advisors LLC Buys Shares of 357,646 Gray Television, Inc. (NYSE:GTN)

Schonfeld Strategic Advisors LLC purchased a new position in shares of Gray Television, Inc. (NYSE:GTN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 357,646 shares of the company's stock, valued at approximately $1,127,000. Schonfeld Strategic Advisors LLC owned approximately 0.36% of Gray Television as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Mariner LLC raised its stake in Gray Television by 18.7% during the fourth quarter. Mariner LLC now owns 21,740 shares of the company's stock worth $68,000 after acquiring an additional 3,419 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Gray Television by 20.7% during the 4th quarter. Intech Investment Management LLC now owns 32,201 shares of the company's stock valued at $101,000 after purchasing an additional 5,528 shares during the last quarter. Wells Fargo & Company MN increased its position in Gray Television by 13.6% during the 4th quarter. Wells Fargo & Company MN now owns 53,242 shares of the company's stock worth $168,000 after purchasing an additional 6,367 shares in the last quarter. Rhumbline Advisers lifted its stake in Gray Television by 4.8% in the 4th quarter. Rhumbline Advisers now owns 142,935 shares of the company's stock valued at $450,000 after purchasing an additional 6,498 shares during the last quarter. Finally, Choreo LLC boosted its position in Gray Television by 60.0% in the fourth quarter. Choreo LLC now owns 26,827 shares of the company's stock valued at $81,000 after buying an additional 10,058 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GTN has been the subject of several research analyst reports. Wells Fargo & Company upgraded shares of Gray Television from an "underweight" rating to an "equal weight" rating and set a $4.00 price target for the company in a report on Monday, March 3rd. Guggenheim lowered 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. Finally, Benchmark cut 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 Tuesday. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $6.00.

Insider Activity at Gray Television

In related news, Director Richard Lee Boger sold 16,000 shares of the company's stock in a transaction dated 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 in the company, valued at $213,085.95. This represents a 22.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 15.22% of the stock is owned by company insiders.

Gray Television Stock Performance

NYSE GTN opened at $3.70 on Thursday. The company has a market capitalization of $375.51 million, a price-to-earnings ratio of 2.47 and a beta of 1.15. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.76. Gray Television, Inc. has a twelve month low of $2.91 and a twelve month high of $7.28. The stock has a fifty day simple moving average of $3.87 and a 200 day simple moving average of $4.01.

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 (EPS) 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. Sell-side analysts expect that Gray Television, Inc. will post 3.32 EPS for the current year.

Gray Television Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 8.65%. The ex-dividend date of this dividend was Friday, March 14th. Gray Television's dividend payout ratio is presently 9.61%.

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.

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