Arcadia Investment Management Corp MI Sells 138,092 Shares of Gray Television, Inc. (NYSE:GTN)

Arcadia Investment Management Corp MI reduced its position in shares of Gray Television, Inc. (NYSE:GTN) by 90.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,350 shares of the company’s stock after selling 138,092 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Gray Television were worth $48,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GTN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Gray Television by 1.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,371 shares of the company’s stock valued at $1,283,000 after acquiring an additional 2,654 shares during the period. Quadrature Capital Ltd grew its stake in shares of Gray Television by 27.4% in the third quarter. Quadrature Capital Ltd now owns 19,006 shares of the company’s stock worth $102,000 after purchasing an additional 4,083 shares during the last quarter. HighTower Advisors LLC increased its holdings in Gray Television by 10.2% during the 3rd quarter. HighTower Advisors LLC now owns 70,031 shares of the company’s stock valued at $374,000 after purchasing an additional 6,480 shares during the period. Rhumbline Advisers increased its holdings in Gray Television by 4.8% during 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 period. Finally, Versor Investments LP raised its position in Gray Television by 40.7% during the 3rd quarter. Versor Investments LP now owns 22,800 shares of the company’s stock valued at $122,000 after purchasing an additional 6,600 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Kevin Paul Latek sold 150,216 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $4.37, for a total transaction of $656,443.92. Following the sale, the executive vice president now owns 509,212 shares of the company’s stock, valued at $2,225,256.44. The trade was a 22.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

GTN has been the topic of a number of recent analyst reports. Guggenheim cut their price objective on Gray Television from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. StockNews.com upgraded shares of Gray Television from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Barrington Research upgraded shares of Gray Television to a “hold” rating in a report on Thursday, November 14th. Finally, Benchmark cut their target price on shares of Gray Television from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.67.

Gray Television Price Performance

Shares of GTN stock opened at $3.82 on Friday. The business’s fifty day moving average is $3.54 and its 200 day moving average is $4.45. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.76. The stock has a market cap of $380.24 million, a price-to-earnings ratio of 2.54 and a beta of 1.41. Gray Television, Inc. has a twelve month low of $2.91 and a twelve month high of $8.05.

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.