Gray Television, Inc. (NYSE:GTN) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its stake in Gray Television, Inc. (NYSE:GTN) by 27.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,222,550 shares of the company’s stock after selling 469,598 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Gray Television were worth $3,851,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new stake in Gray Television during the third quarter worth $143,000. BNP Paribas Financial Markets boosted its position in shares of Gray Television by 109.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 127,497 shares of the company’s stock worth $683,000 after buying an additional 66,578 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Gray Television by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,371 shares of the company’s stock worth $1,283,000 after buying an additional 2,654 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in Gray Television in the 3rd quarter valued at about $185,000. Finally, Verition Fund Management LLC increased its holdings in Gray Television by 64.0% during the 3rd quarter. Verition Fund Management LLC now owns 17,480 shares of the company’s stock valued at $94,000 after acquiring an additional 6,824 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Insider Buying and Selling

In other news, Director Richard Lee Boger sold 16,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $3.85, for a total value of $61,600.00. Following the transaction, the director now directly owns 55,347 shares in the company, valued at $213,085.95. This trade represents a 22.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.80% of the company’s stock.

Gray Television Price Performance

GTN stock opened at $4.68 on Thursday. The stock has a market capitalization of $475.42 million, a price-to-earnings ratio of 3.12 and a beta of 1.45. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.76. Gray Television, Inc. has a 52-week low of $2.91 and a 52-week high of $7.41. The stock’s fifty day simple moving average is $3.98 and its 200-day simple moving average is $4.35.

Gray Television (NYSE:GTN) last posted its quarterly earnings data on Thursday, February 27th. The company reported $1.59 EPS for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.04 billion. Equities research analysts expect that Gray Television, Inc. will post 3.32 EPS for the current year.

Gray Television Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 6.83%. Gray Television’s payout ratio is 9.61%.

Wall Street Analysts Forecast Growth

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

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.