XTX Topco Ltd Makes New Investment in Gray Television, Inc. (NYSE:GTN)

XTX Topco Ltd purchased a new stake in shares of Gray Television, Inc. (NYSE:GTN) during the fourth quarter, Holdings Channel.com reports. The firm purchased 266,978 shares of the company’s stock, valued at approximately $841,000.

Several other large investors have also recently made changes to their positions in the business. State Street Corp raised its position in Gray Television by 1.9% in the 3rd quarter. State Street Corp now owns 2,009,896 shares of the company’s stock worth $10,773,000 after purchasing an additional 36,541 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Gray Television in the fourth quarter worth about $425,000. Barclays PLC increased its holdings in shares of Gray Television by 114.4% in the third quarter. Barclays PLC now owns 272,272 shares of the company’s stock worth $1,460,000 after buying an additional 145,263 shares during the period. EntryPoint Capital LLC boosted its holdings in Gray Television by 925.7% during the 4th quarter. EntryPoint Capital LLC now owns 169,670 shares of the company’s stock valued at $534,000 after acquiring an additional 153,128 shares during the period. Finally, Virtu Financial LLC bought a new position in Gray Television during the 4th quarter worth approximately $324,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Gray Television news, Director Richard Lee Boger sold 16,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $3.85, for a total transaction of $61,600.00. Following the completion of the transaction, the director now owns 55,347 shares of the company’s stock, valued at approximately $213,085.95. This trade represents a 22.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GTN has been the subject of a number of analyst reports. Guggenheim dropped their price objective on Gray Television from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Wells Fargo & Company raised shares of Gray Television from an “underweight” rating to an “equal weight” rating and set a $4.00 price target for the company in a research report on Monday, March 3rd. Three analysts have rated the stock with a hold rating, two have issued 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 price target of $6.33.

Gray Television Price Performance

Shares of GTN stock opened at $3.35 on Thursday. The business’s 50 day moving average price is $4.02 and its 200-day moving average price is $4.22. Gray Television, Inc. has a fifty-two week low of $2.91 and a fifty-two week high of $7.41. The firm has a market cap of $340.17 million, a P/E ratio of 2.23 and a beta of 1.08. 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 (NYSE:GTN) last issued its quarterly earnings data on Thursday, February 27th. The company reported $1.59 EPS for the quarter, hitting the consensus estimate of $1.59. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. On average, equities research analysts anticipate that Gray Television, Inc. will post 3.32 earnings per share for the current year.

Gray Television Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 9.55%. The ex-dividend date was Friday, March 14th. Gray Television’s dividend payout ratio is currently 9.61%.

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.