Quantinno Capital Management LP Takes $85,000 Position in Gray Television, Inc. (NYSE:GTN)

Quantinno Capital Management LP purchased a new position in Gray Television, Inc. (NYSE:GTN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,824 shares of the company’s stock, valued at approximately $85,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in Gray Television in the second quarter worth $27,000. CWM LLC boosted its stake in Gray Television by 733.1% in the 2nd quarter. CWM LLC now owns 7,448 shares of the company’s stock worth $39,000 after purchasing an additional 6,554 shares in the last quarter. Creative Planning purchased a new stake in Gray Television during the 3rd quarter valued at about $56,000. HBK Sorce Advisory LLC bought a new stake in Gray Television during the 2nd quarter valued at about $58,000. Finally, Choreo LLC purchased a new position in Gray Television in the second quarter worth about $60,000. Institutional investors own 78.64% of the company’s stock.

Gray Television Stock Performance

GTN stock opened at $3.29 on Wednesday. The company has a market cap of $327.90 million, a P/E ratio of 2.19, a price-to-earnings-growth ratio of 0.14 and a beta of 1.36. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.13. Gray Television, Inc. has a 1 year low of $3.27 and a 1 year high of $10.07. The stock’s fifty day moving average price is $4.91 and its 200-day moving average price is $5.10.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Friday, November 8th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.08). The business 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%. Gray Television’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.57) EPS. On average, equities analysts forecast that Gray Television, Inc. will post 2.88 earnings per share for the current year.

Gray Television Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 9.73%. Gray Television’s dividend payout ratio (DPR) is 21.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Guggenheim cut their price target on shares of Gray Television from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Benchmark reduced their target price on Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a report on Monday, November 11th. StockNews.com raised Gray Television from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Finally, Barrington Research upgraded Gray Television to a “hold” rating in a report on Thursday, November 14th. One investment 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $6.67.

Insider Buying and Selling

In related news, EVP Kevin Paul Latek sold 150,216 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $4.37, for a total value of $656,443.92. Following the completion of the sale, the executive vice president now directly owns 509,212 shares of the company’s stock, valued at approximately $2,225,256.44. This represents a 22.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.80% of the stock is owned by insiders.

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.