Rpo LLC Makes New $46,000 Investment in Gray Television, Inc. (NYSE:GTN)

Rpo LLC purchased a new position in shares of Gray Television, Inc. (NYSE:GTN) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 14,505 shares of the company’s stock, valued at approximately $46,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GTN. Norges Bank acquired a new stake in Gray Television during the 4th quarter worth approximately $2,170,000. ExodusPoint Capital Management LP purchased a new position in Gray Television in the fourth quarter valued at $1,261,000. Capital Management Corp VA boosted its holdings in 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. EntryPoint Capital LLC grew its stake in Gray Television by 925.7% during the 4th quarter. EntryPoint Capital LLC now owns 169,670 shares of the company’s stock worth $534,000 after purchasing an additional 153,128 shares in the last quarter. Finally, Barclays PLC increased its holdings in Gray Television by 114.4% during the 3rd quarter. Barclays PLC now owns 272,272 shares of the company’s stock worth $1,460,000 after purchasing an additional 145,263 shares during the period. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Analyst Upgrades and Downgrades

GTN has been the subject of several recent research reports. Wells Fargo & Company raised Gray Television from an “underweight” rating to an “equal weight” rating and set a $4.00 price objective for the company in a research report on Monday, March 3rd. Guggenheim dropped their price objective on shares of Gray Television from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.33.

Gray Television Trading Up 0.9 %

GTN opened at $4.36 on Thursday. 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 one year low of $2.91 and a one year high of $7.41. The company has a market cap of $442.73 million, a P/E ratio of 2.91 and a beta of 1.08. The business’s 50-day simple moving average is $4.09 and its 200-day simple moving average is $4.34.

Gray Television (NYSE:GTN) last announced its quarterly earnings results on Thursday, February 27th. The company reported $1.59 EPS for the quarter, meeting the consensus estimate of $1.59. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. As a group, equities research analysts expect that Gray Television, Inc. will post 3.32 EPS for the current fiscal year.

Gray Television Dividend Announcement

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

Insider Activity at Gray Television

In other news, Director Richard Lee Boger sold 16,000 shares of Gray Television stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $3.85, for a total transaction of $61,600.00. Following the sale, the director now owns 55,347 shares in the company, valued at approximately $213,085.95. The trade was a 22.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.80% of the stock is owned by corporate insiders.

About Gray Television

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.