Gray Television, Inc. (NYSE:GTN) Shares Sold by LSV Asset Management

LSV Asset Management decreased its position in shares of Gray Television, Inc. (NYSE:GTN) by 36.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,900 shares of the company’s stock after selling 58,100 shares during the period. LSV Asset Management’s holdings in Gray Television were worth $535,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Hudson Edge Investment Partners Inc. raised its position in Gray Television by 11.9% in the 2nd quarter. Hudson Edge Investment Partners Inc. now owns 45,388 shares of the company’s stock valued at $236,000 after purchasing an additional 4,832 shares in the last quarter. Arcadia Investment Management Corp MI raised its position in Gray Television by 38.3% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 172,785 shares of the company’s stock valued at $898,000 after purchasing an additional 47,850 shares in the last quarter. Victory Capital Management Inc. raised its position in Gray Television by 463.3% in the 2nd quarter. Victory Capital Management Inc. now owns 61,846 shares of the company’s stock valued at $322,000 after purchasing an additional 50,866 shares in the last quarter. Heritage Family Offices LLP acquired a new stake in Gray Television in the 2nd quarter valued at about $71,000. Finally, Rhumbline Advisers raised its position in Gray Television by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 139,642 shares of the company’s stock valued at $726,000 after purchasing an additional 3,544 shares in the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Analysts Set New Price Targets

GTN has been the topic of a number of analyst reports. Guggenheim reduced their price target on Gray Television from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Wells Fargo & Company reduced their price target on Gray Television from $6.00 to $4.00 and set an “underweight” rating on the stock in a research report on Friday, August 9th. Finally, Benchmark dropped their price objective on Gray Television from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Gray Television presently has an average rating of “Hold” and an average target price of $8.33.

Gray Television Trading Up 3.2 %

GTN opened at $4.58 on Friday. Gray Television, Inc. has a one year low of $4.15 and a one year high of $10.07. The company has a market cap of $454.05 million, a P/E ratio of -38.17, a PEG ratio of 0.09 and a beta of 1.49. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.63 and a current ratio of 1.63. The business’s 50-day simple moving average is $5.16 and its 200-day simple moving average is $5.59.

Gray Television (NYSE:GTN) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The business had revenue of $826.00 million during the quarter, compared to analysts’ expectations of $840.33 million. Gray Television had a net margin of 1.84% and a return on equity of 3.02%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.10) EPS. As a group, equities research analysts expect that Gray Television, Inc. will post 4.97 EPS for the current fiscal year.

Gray Television Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 6.99%. Gray Television’s dividend payout ratio is presently -266.67%.

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.