Versor Investments LP Buys 6,600 Shares of Gray Television, Inc. (NYSE:GTN)

Versor Investments LP lifted its stake in shares of Gray Television, Inc. (NYSE:GTN) by 40.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,800 shares of the company’s stock after purchasing an additional 6,600 shares during the quarter. Versor Investments LP’s holdings in Gray Television were worth $122,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GTN. Atria Investments Inc increased its stake in Gray Television by 367.2% in the 3rd quarter. Atria Investments Inc now owns 63,901 shares of the company’s stock worth $343,000 after acquiring an additional 50,223 shares during the last quarter. Capital Management Corp VA increased its stake in Gray Television by 27.6% in the 3rd quarter. Capital Management Corp VA now owns 5,408,269 shares of the company’s stock worth $28,988,000 after acquiring an additional 1,170,990 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Gray Television by 17,363.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 32,133 shares of the company’s stock worth $172,000 after acquiring an additional 31,949 shares during the last quarter. nVerses Capital LLC increased its stake in Gray Television by 180.4% in the 3rd quarter. nVerses Capital LLC now owns 14,300 shares of the company’s stock worth $77,000 after acquiring an additional 9,200 shares during the last quarter. Finally, Creative Planning bought a new position in Gray Television in the 3rd quarter worth about $56,000. 78.64% of the stock is currently owned by institutional investors.

Gray Television Trading Down 2.1 %

Shares of GTN stock opened at $4.69 on Monday. The stock has a market capitalization of $467.44 million, a PE ratio of 3.13, a P/E/G ratio of 0.13 and a beta of 1.47. Gray Television, Inc. has a 1-year low of $3.95 and a 1-year high of $10.07. The business has a 50-day moving average of $5.27 and a 200 day moving average of $5.41. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.63.

Gray Television (NYSE:GTN) last issued its earnings results on Friday, November 8th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.08). The company had revenue of $950.00 million for the quarter, compared to analysts’ expectations of $967.49 million. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The company’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.57) earnings per share. As a group, sell-side analysts anticipate that Gray Television, Inc. will post 2.7 earnings per share for the current year.

Gray Television Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 6.82%. The ex-dividend date of this dividend is Friday, December 13th. Gray Television’s dividend payout ratio (DPR) is currently 21.33%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Guggenheim reduced their price objective on Gray Television from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Barrington Research upgraded Gray Television to a “hold” rating in a research report on Thursday. StockNews.com upgraded Gray Television from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company reduced their price objective 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 reduced their price objective on Gray Television from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Gray Television has an average rating of “Moderate Buy” and an average price target of $6.67.

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.