American Century Companies Inc. Acquires New Position in Gray Television, Inc. (GTN)

American Century Companies Inc. acquired a new position in Gray Television, Inc. (NYSE:GTN) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 195,254 shares of the company’s stock, valued at approximately $2,878,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in Gray Television by 168.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the company’s stock worth $155,000 after acquiring an additional 5,542 shares during the last quarter. Virtu Financial LLC bought a new stake in Gray Television during the 3rd quarter worth about $180,000. GSA Capital Partners LLP bought a new stake in Gray Television during the 3rd quarter worth about $772,000. JPMorgan Chase & Co. grew its holdings in Gray Television by 28.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 508,110 shares of the company’s stock worth $8,891,000 after acquiring an additional 112,742 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Gray Television during the 3rd quarter worth about $552,000. 76.72% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have commented on the stock. ValuEngine raised shares of Gray Television from a “hold” rating to a “buy” rating in a report on Thursday, March 7th. Zacks Investment Research raised shares of Gray Television from a “sell” rating to a “hold” rating in a report on Thursday, March 7th. Barrington Research increased their price objective on shares of Gray Television from $23.00 to $26.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. Noble Financial reaffirmed a “buy” rating and issued a $23.00 target price on shares of Gray Television in a research note on Friday, March 1st. Finally, Stephens reaffirmed an “overweight” rating and issued a $27.00 target price on shares of Gray Television in a research note on Friday, March 1st. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $24.29.



Shares of NYSE GTN opened at $24.05 on Tuesday. The stock has a market capitalization of $2.43 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 1.67 and a beta of 2.02. 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 1 year low of $10.70 and a 1 year high of $25.31.

Gray Television (NYSE:GTN) last issued its earnings results on Thursday, February 28th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.08. Gray Television had a net margin of 19.44% and a return on equity of 20.07%. Analysts expect that Gray Television, Inc. will post 1.47 EPS for the current year.

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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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Institutional Ownership by Quarter for Gray Television (NYSE:GTN)

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