Quantinno Capital Management LP Takes $85,000 Position in Gray Television, Inc. (NYSE:GTN)

Quantinno Capital Management LP acquired a new position in Gray Television, Inc. (NYSE:GTN) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 15,824 shares of the company’s stock, valued at approximately $85,000.

Other institutional investors have also recently made changes to their positions in the company. Capital Management Corp VA increased its holdings in Gray Television by 27.6% in the 3rd quarter. Capital Management Corp VA now owns 5,408,269 shares of the company’s stock valued at $28,988,000 after acquiring an additional 1,170,990 shares during the last quarter. Tributary Capital Management LLC grew its position in shares of Gray Television by 0.8% during the second quarter. Tributary Capital Management LLC now owns 1,334,714 shares of the company’s stock valued at $6,941,000 after purchasing an additional 10,093 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Gray Television by 4.8% in the second quarter. AQR Capital Management LLC now owns 1,055,389 shares of the company’s stock worth $5,488,000 after purchasing an additional 48,623 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Gray Television by 17.2% in the second quarter. Envestnet Asset Management Inc. now owns 560,825 shares of the company’s stock worth $2,916,000 after buying an additional 82,454 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Gray Television by 20.1% in the third quarter. Empowered Funds LLC now owns 411,449 shares of the company’s stock worth $2,205,000 after buying an additional 68,795 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Wall Street Analysts Forecast Growth

GTN has been the topic of a number of research reports. Guggenheim reduced their price objective on Gray Television from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. StockNews.com upgraded shares of Gray Television from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Barrington Research upgraded shares of Gray Television to a “hold” rating in a research report on Thursday, November 14th. Finally, Benchmark reduced their target price on shares of Gray Television from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $6.67.

Gray Television Stock Down 6.3 %

Shares of NYSE:GTN opened at $3.29 on Wednesday. The firm has a market capitalization of $327.90 million, a PE ratio of 2.19, a price-to-earnings-growth ratio of 0.14 and a beta of 1.36. The business has a 50 day simple moving average of $4.91 and a two-hundred day simple moving average of $5.10. Gray Television, Inc. has a 1 year low of $3.27 and a 1 year high of $10.07. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.13.

Gray Television (NYSE:GTN) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $967.49 million. During the same quarter in the previous year, the firm earned ($0.57) EPS. Gray Television’s revenue was up 18.3% compared to the same quarter last year. On average, equities analysts predict that Gray Television, Inc. will post 2.88 EPS for the current year.

Gray Television Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 9.73%. Gray Television’s dividend payout ratio (DPR) is currently 21.33%.

Insider Transactions at Gray Television

In other Gray Television news, EVP Kevin Paul Latek sold 150,216 shares of the company’s 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 owns 509,212 shares in the company, valued at $2,225,256.44. This represents a 22.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.80% of the company’s stock.

Gray Television Company 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.