Rpo LLC Makes New Investment in Gray Television, Inc. (NYSE:GTN)

Rpo LLC bought a new stake in Gray Television, Inc. (NYSE:GTN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 14,505 shares of the company’s stock, valued at approximately $46,000.

A number of other institutional investors have also recently made changes to their positions in GTN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Gray Television by 1.1% in the 3rd 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 purchasing an additional 2,654 shares in the last quarter. Quadrature Capital Ltd raised its position 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 valued at $102,000 after buying an additional 4,083 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Gray Television by 20.7% in the fourth quarter. Intech Investment Management LLC now owns 32,201 shares of the company’s stock worth $101,000 after buying an additional 5,528 shares in the last quarter. HighTower Advisors LLC boosted its position in Gray Television by 10.2% during the third quarter. HighTower Advisors LLC now owns 70,031 shares of the company’s stock worth $374,000 after acquiring an additional 6,480 shares during the last quarter. Finally, Rhumbline Advisers grew its stake 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 acquiring an additional 6,498 shares in the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GTN. Guggenheim decreased their target price on shares of Gray Television from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. 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 report on Monday, March 3rd. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Gray Television has a consensus rating of “Moderate Buy” and an average price target of $6.33.

Gray Television Stock Performance

NYSE:GTN opened at $4.36 on Thursday. The company’s 50-day moving average is $4.09 and its two-hundred day moving average is $4.34. Gray Television, Inc. has a 1-year low of $2.91 and a 1-year high of $7.41. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $442.73 million, a price-to-earnings ratio of 2.91 and a beta of 1.08.

Gray Television (NYSE:GTN) last released its quarterly earnings data on Thursday, February 27th. The company reported $1.59 EPS for the quarter, meeting analysts’ consensus estimates of $1.59. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. Analysts forecast that Gray Television, Inc. will post 3.32 EPS for the current year.

Gray Television Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 7.34%. The ex-dividend date of this dividend was Friday, March 14th. Gray Television’s payout ratio is 9.61%.

Insider Buying and Selling

In other news, Director Richard Lee Boger sold 16,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $3.85, for a total value of $61,600.00. Following the transaction, the director now directly owns 55,347 shares in the company, valued at approximately $213,085.95. This represents a 22.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.80% of the company’s stock.

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, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.