Qube Research & Technologies Ltd Has $2.76 Million Stock Holdings in Gray Television, Inc. (NYSE:GTN)
Qube Research & Technologies Ltd trimmed its position in Gray Television, Inc. (NYSE:GTN – Free Report) by 13.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 398,472 shares of the company’s stock after selling 59,503 shares during the quarter. Qube Research & Technologies Ltd’s holdings in Gray Television were worth $2,757,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GTN. Captrust Financial Advisors lifted its position in shares of Gray Television by 219.5% during the 2nd quarter. Captrust Financial Advisors now owns 1,556 shares of the company’s stock valued at $26,000 after acquiring an additional 1,069 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Gray Television during the 3rd quarter valued at $41,000. Quarry LP lifted its position in shares of Gray Television by 460.6% during the 1st quarter. Quarry LP now owns 5,432 shares of the company’s stock valued at $47,000 after acquiring an additional 4,463 shares during the period. Mariner LLC bought a new stake in shares of Gray Television during the 3rd quarter valued at $70,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Gray Television during the 2nd quarter valued at $73,000. 77.01% of the stock is owned by institutional investors and hedge funds.
Gray Television Price Performance
Shares of GTN stock opened at $5.87 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 3.12. Gray Television, Inc. has a twelve month low of $5.44 and a twelve month high of $10.69. The company has a market cap of $570.56 million, a P/E ratio of -4.22, a P/E/G ratio of 0.15 and a beta of 1.56. The business has a fifty day simple moving average of $8.19 and a 200 day simple moving average of $7.72.
Gray Television (NYSE:GTN – Get Free Report) last issued its earnings results 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 return on equity of 3.76% and a negative net margin of 2.32%. The firm had revenue of $864.00 million during the quarter, compared to analyst estimates of $863.31 million. During the same period in the previous year, the company earned $1.88 EPS. Gray Television’s revenue for the quarter was down 19.4% on a year-over-year basis. On average, sell-side analysts forecast that Gray Television, Inc. will post 3.78 EPS for the current fiscal year.
Gray Television Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, March 15th will be issued a $0.08 dividend. The ex-dividend date is Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 5.45%. Gray Television’s payout ratio is presently -23.02%.
Analyst Ratings Changes
A number of analysts have recently weighed in on GTN shares. Wells Fargo & Company upped their target price on Gray Television from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Barrington Research restated a “market perform” rating on shares of Gray Television in a research report on Tuesday, February 27th. Finally, StockNews.com upgraded Gray Television to a “sell” rating in a research report on Thursday, December 14th. Two 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 MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $12.80.
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, Antenna TV, Telemundo, and Cozi; and local news/weather channels in various markets.
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