Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of Gray Television, Inc. (NYSE:GTN) during the fourth quarter, Holdings Channel reports. The fund bought 94,700 shares of the company’s stock, valued at approximately $1,396,000.
A number of other hedge funds also recently made changes to their positions in the stock. Meghalaya Partners L.P. increased its position in Gray Television by 1.9% during the fourth quarter. Meghalaya Partners L.P. now owns 675,000 shares of the company’s stock worth $9,950,000 after acquiring an additional 12,500 shares during the period. Two Sigma Advisers LP bought a new position in Gray Television during the fourth quarter worth $1,095,000. Two Sigma Investments LP bought a new position in Gray Television during the fourth quarter worth $4,728,000. Principal Financial Group Inc. increased its position in Gray Television by 235.9% during the fourth quarter. Principal Financial Group Inc. now owns 38,659 shares of the company’s stock worth $570,000 after acquiring an additional 27,149 shares during the period. Finally, Mackay Shields LLC bought a new position in Gray Television during the fourth quarter worth $662,000. 76.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE GTN opened at $21.50 on Monday. The stock has a market cap of $2.17 billion, a P/E ratio of 8.85, a P/E/G ratio of 2.05 and a beta of 2.03. The company has a debt-to-equity ratio of 2.15, a quick ratio of 5.80 and a current ratio of 5.80. Gray Television, Inc. has a 12-month low of $10.70 and a 12-month high of $23.45.
Several equities research analysts have issued reports on GTN shares. Wolfe Research started coverage on shares of Gray Television in a report on Friday, December 7th. They issued an “outperform” rating on the stock. Zacks Investment Research lowered shares of Gray Television from a “buy” rating to a “hold” rating in a report on Friday, January 4th. Barrington Research reissued a “buy” rating and issued a $23.00 price target on shares of Gray Television in a report on Thursday, February 28th. ValuEngine raised shares of Gray Television from a “hold” rating to a “buy” rating in a report on Thursday, February 28th. Finally, Stephens reissued an “overweight” rating and issued a $27.00 price target on shares of Gray Television in a report on Friday, March 1st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $24.29.
About Gray Television
Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 28, 2019, it owned and operated television stations in 91 television markets broadcasting approximately 400 program streams, including approximately 150 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.
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