EntryPoint Capital LLC Grows Stock Holdings in Gray Television, Inc. (NYSE:GTN)

EntryPoint Capital LLC lifted its holdings in shares of Gray Television, Inc. (NYSE:GTN) by 925.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 169,670 shares of the company’s stock after buying an additional 153,128 shares during the period. EntryPoint Capital LLC’s holdings in Gray Television were worth $534,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp lifted its position in Gray Television by 1.9% during the 3rd quarter. State Street Corp now owns 2,009,896 shares of the company’s stock worth $10,773,000 after acquiring an additional 36,541 shares in the last quarter. Barclays PLC raised its stake in shares of Gray Television by 114.4% during the third quarter. Barclays PLC now owns 272,272 shares of the company’s stock valued at $1,460,000 after purchasing an additional 145,263 shares during the period. Kingsview Wealth Management LLC acquired a new position in shares of Gray Television during the fourth quarter worth $340,000. Capital Management Corp VA boosted its stake in shares of Gray Television by 6.6% in the fourth quarter. Capital Management Corp VA now owns 5,763,336 shares of the company’s stock valued at $18,155,000 after purchasing an additional 355,067 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Gray Television by 109.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 127,497 shares of the company’s stock valued at $683,000 after purchasing an additional 66,578 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Gray Television Stock Performance

Shares of Gray Television stock opened at $4.80 on Tuesday. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.13 and a current ratio of 1.13. Gray Television, Inc. has a 1 year low of $2.91 and a 1 year high of $7.41. The firm’s 50-day simple moving average is $3.93 and its 200-day simple moving average is $4.35. The firm has a market cap of $486.90 million, a PE ratio of 3.20 and a beta of 1.45.

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

Gray Television Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, March 14th. This represents a $0.32 annualized dividend and a yield of 6.67%. Gray Television’s payout ratio is 9.61%.

Insiders Place Their Bets

In related news, Director Richard Lee Boger sold 16,000 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $3.85, for a total transaction of $61,600.00. Following the completion of the sale, the director now owns 55,347 shares of the company’s stock, valued at $213,085.95. This represents a 22.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Guggenheim decreased their price objective 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. Wells Fargo & Company upgraded Gray Television from an “underweight” rating to an “equal weight” rating and set a $4.00 price objective for the company in a research note on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $6.33.

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.