Diversified Trust Co Grows Stock Position in Gray Television, Inc. (NYSE:GTN)
Diversified Trust Co lifted its position in Gray Television, Inc. (NYSE:GTN – Free Report) by 25.4% in the 4th quarter, HoldingsChannel reports. The firm owned 26,762 shares of the company’s stock after purchasing an additional 5,414 shares during the quarter. Diversified Trust Co’s holdings in Gray Television were worth $240,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently modified their holdings of GTN. Darsana Capital Partners LP grew its holdings in Gray Television by 336.8% in the third quarter. Darsana Capital Partners LP now owns 4,000,441 shares of the company’s stock valued at $27,683,000 after purchasing an additional 3,084,578 shares during the period. Baupost Group LLC MA purchased a new position in Gray Television during the first quarter worth approximately $28,491,000. UBS Group AG lifted its position in Gray Television by 46.1% during the first quarter. UBS Group AG now owns 3,063,320 shares of the company’s stock worth $26,712,000 after buying an additional 966,251 shares in the last quarter. Norges Bank purchased a new position in Gray Television during the fourth quarter worth approximately $9,115,000. Finally, Goldman Sachs Group Inc. lifted its position in Gray Television by 30.0% during the first quarter. Goldman Sachs Group Inc. now owns 2,311,553 shares of the company’s stock worth $51,016,000 after buying an additional 533,361 shares in the last quarter. 77.01% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
GTN has been the subject of several analyst reports. Barrington Research reissued a “market perform” rating on shares of Gray Television in a research note on Tuesday, February 27th. StockNews.com raised Gray Television to a “sell” rating in a research report on Thursday, December 14th. Finally, Wells Fargo & Company upped their price objective on Gray Television from $6.00 to $7.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. Two equities research 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. Based on data from MarketBeat.com, Gray Television has an average rating of “Hold” and a consensus price target of $12.80.
Read Our Latest Report on Gray Television
Gray Television Stock Down 4.4 %
GTN opened at $5.71 on Friday. The business has a 50 day moving average price of $7.54 and a two-hundred day moving average price of $7.57. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 3.12. The company has a market cap of $555.01 million, a PE ratio of -4.11, a P/E/G ratio of 0.16 and a beta of 1.56. Gray Television, Inc. has a 52 week low of $5.44 and a 52 week high of $10.69.
Gray Television (NYSE:GTN – Get Free Report) last posted its quarterly earnings data on Friday, February 23rd. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.08). The company had revenue of $864.00 million for the quarter, compared to analysts’ expectations of $863.31 million. Gray Television had a negative net margin of 2.32% and a negative return on equity of 3.76%. The firm’s revenue was down 19.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.88 earnings per share. As a group, research analysts anticipate that Gray Television, Inc. will post 3.78 EPS for the current year.
Gray Television Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date is Thursday, March 14th. Gray Television’s dividend payout ratio (DPR) is -23.02%.
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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