Tributary Capital Management LLC Boosts Stock Holdings in Gray Television, Inc. (NYSE:GTN)

Tributary Capital Management LLC raised its holdings in Gray Television, Inc. (NYSE:GTN) by 6.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,324,621 shares of the company’s stock after acquiring an additional 80,555 shares during the quarter. Tributary Capital Management LLC owned 1.36% of Gray Television worth $8,372,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in GTN. Hudson Edge Investment Partners Inc. purchased a new position in shares of Gray Television in the fourth quarter valued at $246,000. CenterBook Partners LP acquired a new position in shares of Gray Television in the fourth quarter worth $3,671,000. CastleKnight Management LP purchased a new stake in shares of Gray Television in the fourth quarter valued at $1,591,000. Panagora Asset Management Inc. boosted its stake in shares of Gray Television by 120.7% during the fourth quarter. Panagora Asset Management Inc. now owns 249,487 shares of the company’s stock valued at $2,235,000 after acquiring an additional 136,441 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Gray Television by 7.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,221,487 shares of the company’s stock worth $19,905,000 after purchasing an additional 160,500 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on GTN. Wells Fargo & Company raised their target price on shares of Gray Television from $5.50 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 8th. Loop Capital raised shares of Gray Television to a “strong-buy” rating in a research note on Wednesday, May 8th. Finally, Benchmark raised their price target on shares of Gray Television from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Gray Television presently has an average rating of “Hold” and a consensus price target of $11.40.

Gray Television Trading Down 0.4 %

Shares of GTN stock opened at $5.16 on Tuesday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.99. The stock has a market capitalization of $511.56 million, a P/E ratio of -43.17, a P/E/G ratio of 0.10 and a beta of 1.52. The stock has a 50-day simple moving average of $5.81 and a 200 day simple moving average of $6.90. Gray Television, Inc. has a fifty-two week low of $4.72 and a fifty-two week high of $10.69.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.25. Gray Television had a net margin of 1.30% and a return on equity of 2.13%. The business had revenue of $823.00 million for the quarter, compared to analyst estimates of $824.98 million. During the same quarter in the previous year, the business earned ($0.48) earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts expect that Gray Television, Inc. will post 5.24 earnings per share for the current fiscal year.

Gray Television Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date was Friday, June 14th. Gray Television’s dividend payout ratio (DPR) is presently -266.67%.

About Gray Television

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.