Susquehanna Fundamental Investments LLC Purchases New Position in Gray Television, Inc. (NYSE:GTN)

Susquehanna Fundamental Investments LLC purchased a new position in shares of Gray Television, Inc. (NYSE:GTN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 260,214 shares of the company's stock, valued at approximately $820,000. Susquehanna Fundamental Investments LLC owned about 0.26% of Gray Television as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Miller Value Partners LLC grew its stake in Gray Television by 132.1% in the fourth quarter. Miller Value Partners LLC now owns 3,384,450 shares of the company's stock valued at $10,661,000 after purchasing an additional 1,926,330 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Gray Television by 23.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 116,998 shares of the company's stock worth $369,000 after acquiring an additional 22,367 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Gray Television in the fourth quarter worth approximately $222,000. Marshall Wace LLP boosted its position in Gray Television by 52.6% in the 4th quarter. Marshall Wace LLP now owns 1,161,862 shares of the company's stock worth $3,660,000 after purchasing an additional 400,274 shares in the last quarter. Finally, Walleye Trading LLC purchased a new position in Gray Television in the fourth quarter worth approximately $127,000. Institutional investors own 78.64% of the company's stock.

Gray Television Stock Up 22.0 %

NYSE:GTN traded up $0.82 on Thursday, hitting $4.54. 1,413,665 shares of the company's stock traded hands, compared to its average volume of 1,436,721. The firm has a 50-day moving average price of $3.87 and a 200-day moving average price of $4.01. The company has a market cap of $461.01 million, a PE ratio of 3.03 and a beta of 1.15. 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 1 year low of $2.91 and a 1 year high of $7.28.

Gray Television (NYSE:GTN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.26. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. During the same period in the prior year, the company earned $0.79 EPS. The business's quarterly revenue was down 5.0% compared to the same quarter last year. Equities analysts anticipate that Gray Television, Inc. will post 3.32 EPS for the current fiscal year.

Gray Television Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 7.05%. The ex-dividend date of this dividend was Friday, March 14th. Gray Television's dividend payout ratio is currently 9.61%.

Insider Activity

In other news, Director Richard Lee Boger sold 16,000 shares of the firm's stock in a transaction 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 completion of the transaction, the director now directly owns 55,347 shares in the company, valued at $213,085.95. This trade represents a 22.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 15.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Guggenheim decreased their price target on shares of Gray Television from $8.00 to $7.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Benchmark reduced their price target on Gray Television from $8.00 to $7.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company upgraded Gray Television from an "underweight" rating to an "equal weight" rating and set a $4.00 price objective on the stock in a research note on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $6.00.

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.