Gray Television, Inc. (NYSE:GTN) CEO Hilton H. Howell, Jr. Buys 10,000 Shares

Gray Television, Inc. (NYSE:GTNGet Free Report) CEO Hilton H. Howell, Jr. bought 10,000 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were acquired at an average cost of $8.09 per share, with a total value of $80,900.00. Following the purchase, the chief executive officer now owns 2,982,386 shares of the company’s stock, valued at $24,127,502.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Gray Television Trading Up 0.1 %

GTN opened at $6.03 on Wednesday. The firm has a market cap of $585.63 million, a P/E ratio of -4.33, a P/E/G ratio of 0.17 and a beta of 1.57. The business has a fifty day simple moving average of $7.13 and a 200-day simple moving average of $7.52. Gray Television, Inc. has a 52 week low of $5.44 and a 52 week high of $10.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 3.12.

Gray Television (NYSE:GTNGet Free Report) last released its earnings results on Friday, February 23rd. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.08). The company had revenue of $864.00 million during the quarter, compared to analysts’ expectations of $863.31 million. Gray Television had a negative net margin of 2.32% and a negative return on equity of 3.76%. The company’s revenue for the quarter was down 19.4% on a year-over-year basis. During the same quarter last year, the business posted $1.88 earnings per share. On average, equities analysts expect that Gray Television, Inc. will post 3.78 earnings per share for the current year.

Gray Television Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date was Thursday, March 14th. Gray Television’s dividend payout ratio (DPR) is -23.02%.

Institutional Trading of Gray Television

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisor Group Holdings Inc. boosted its stake in shares of Gray Television by 35.1% during the 1st quarter. Advisor Group Holdings Inc. now owns 6,415 shares of the company’s stock worth $142,000 after acquiring an additional 1,667 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Gray Television by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 901,178 shares of the company’s stock worth $19,889,000 after buying an additional 3,750 shares during the last quarter. US Bancorp DE increased its holdings in shares of Gray Television by 73.5% during the 1st quarter. US Bancorp DE now owns 17,014 shares of the company’s stock worth $376,000 after buying an additional 7,207 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Gray Television by 56.0% during the 1st quarter. MetLife Investment Management LLC now owns 46,491 shares of the company’s stock worth $1,026,000 after buying an additional 16,686 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Gray Television by 2.1% in the first quarter. Vanguard Group Inc. now owns 4,646,405 shares of the company’s stock valued at $102,546,000 after purchasing an additional 97,570 shares during the period. Institutional investors and hedge funds own 78.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wells Fargo & Company raised their target price on Gray Television from $6.00 to $7.00 and gave the stock an “underweight” rating in a research note on Friday, February 9th. StockNews.com upgraded Gray Television to a “sell” rating in a research report on Thursday, December 14th. Finally, Barrington Research restated a “market perform” rating on shares of Gray Television in a research report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.80.

Get Our Latest Research Report on GTN

Gray Television Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Gray Television (NYSE:GTN)

Receive News & Ratings for Gray Television Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gray Television and related companies with MarketBeat.com's FREE daily email newsletter.