American Century Companies Inc. Raises Stock Holdings in Gray Television, Inc. (NYSE:GTN)

American Century Companies Inc. raised its holdings in Gray Television, Inc. (NYSE:GTN) by 6.7% during the 2nd quarter, Holdings Channel reports. The firm owned 124,857 shares of the company’s stock after buying an additional 7,836 shares during the quarter. American Century Companies Inc.’s holdings in Gray Television were worth $649,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Gray Television by 9.8% during the 1st quarter. Vanguard Group Inc. now owns 5,662,398 shares of the company’s stock worth $35,786,000 after purchasing an additional 506,106 shares during the last quarter. Capital Management Corp VA lifted its position in shares of Gray Television by 18.6% in the first quarter. Capital Management Corp VA now owns 3,670,410 shares of the company’s stock valued at $23,197,000 after acquiring an additional 575,527 shares in the last quarter. Tributary Capital Management LLC boosted its stake in shares of Gray Television by 0.8% in the second quarter. Tributary Capital Management LLC now owns 1,334,714 shares of the company’s stock worth $6,941,000 after acquiring an additional 10,093 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Gray Television by 1.9% during the first quarter. Clearbridge Investments LLC now owns 1,307,308 shares of the company’s stock worth $8,262,000 after purchasing an additional 23,878 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Gray Television by 232.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 813,000 shares of the company’s stock valued at $5,138,000 after purchasing an additional 568,400 shares during the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

Gray Television Stock Down 0.6 %

Shares of NYSE:GTN opened at $5.36 on Thursday. Gray Television, Inc. has a 52-week low of $4.15 and a 52-week high of $10.07. The stock has a market cap of $531.38 million, a P/E ratio of -44.67, a PEG ratio of 0.10 and a beta of 1.49. The business has a fifty day moving average of $5.11 and a two-hundred day moving average of $5.52. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 2.98.

Gray Television (NYSE:GTN) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). The firm had revenue of $826.00 million for the quarter, compared to analyst estimates of $840.33 million. Gray Television had a return on equity of 3.02% and a net margin of 1.84%. Gray Television’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.10) earnings per share. On average, research analysts expect that Gray Television, Inc. will post 4.97 earnings per share for the current year.

Gray Television Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 5.97%. Gray Television’s payout ratio is -266.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GTN shares. Guggenheim lowered their target price on shares of Gray Television from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. Benchmark decreased their price target on shares of Gray Television from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Wells Fargo & Company dropped their price objective on shares of Gray Television from $6.00 to $4.00 and set an “underweight” rating for the company in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.33.

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.