12,416 Shares in Gray Television, Inc. (NYSE:GTN) Acquired by EP Wealth Advisors LLC

EP Wealth Advisors LLC bought a new stake in Gray Television, Inc. (NYSE:GTN) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 12,416 shares of the company’s stock, valued at approximately $67,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC grew its holdings in Gray Television by 733.1% during the 2nd quarter. CWM LLC now owns 7,448 shares of the company’s stock worth $39,000 after acquiring an additional 6,554 shares in the last quarter. Dakota Wealth Management raised its stake in Gray Television by 34.5% in the second quarter. Dakota Wealth Management now owns 14,753 shares of the company’s stock valued at $77,000 after buying an additional 3,781 shares in the last quarter. Tributary Capital Management LLC lifted its holdings in Gray Television by 0.8% during the 2nd quarter. Tributary Capital Management LLC now owns 1,334,714 shares of the company’s stock worth $6,941,000 after buying an additional 10,093 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Gray Television by 9.9% during the 2nd quarter. Principal Financial Group Inc. now owns 61,763 shares of the company’s stock worth $321,000 after acquiring an additional 5,555 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of Gray Television in the 2nd quarter valued at about $27,000. 78.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Kevin Paul Latek sold 150,216 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $4.37, for a total transaction of $656,443.92. Following the completion of the sale, the executive vice president now directly owns 509,212 shares of the company’s stock, valued at $2,225,256.44. This trade represents a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on GTN. Barrington Research upgraded Gray Television to a “hold” rating in a research note on Thursday, November 14th. Guggenheim lowered their target price on shares of Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. StockNews.com raised shares of Gray Television from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Benchmark reduced their price target on shares of Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $6.67.

Gray Television Price Performance

Shares of NYSE GTN opened at $3.72 on Monday. The stock has a market cap of $370.77 million, a P/E ratio of 2.48, a P/E/G ratio of 0.14 and a beta of 1.36. Gray Television, Inc. has a twelve month low of $3.65 and a twelve month high of $10.07. The stock has a 50 day moving average of $4.94 and a two-hundred day moving average of $5.11. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.76.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Friday, November 8th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.08). Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The business had revenue of $950.00 million during the quarter, compared to analysts’ expectations of $967.49 million. During the same quarter last year, the company earned ($0.57) EPS. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. On average, research analysts forecast that Gray Television, Inc. will post 2.88 earnings per share for the current year.

Gray Television Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 8.60%. The ex-dividend date is Friday, December 13th. Gray Television’s dividend payout ratio is currently 21.33%.

Gray Television Profile

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.