Wilmington Savings Fund Society FSB Makes New $59,000 Investment in Gray Television, Inc. (NYSE:GTN)

Wilmington Savings Fund Society FSB acquired a new stake in Gray Television, Inc. (NYSE:GTN) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 11,000 shares of the company’s stock, valued at approximately $59,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GTN. Capital Management Corp VA boosted its position in Gray Television by 27.6% during the third quarter. Capital Management Corp VA now owns 5,408,269 shares of the company’s stock valued at $28,988,000 after buying an additional 1,170,990 shares during the period. GSA Capital Partners LLP increased its position in shares of Gray Television by 287.9% in the third quarter. GSA Capital Partners LLP now owns 232,832 shares of the company’s stock valued at $1,248,000 after acquiring an additional 172,801 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Gray Television during the second quarter valued at about $881,000. Barclays PLC boosted its holdings in shares of Gray Television by 114.4% during the third quarter. Barclays PLC now owns 272,272 shares of the company’s stock worth $1,460,000 after purchasing an additional 145,263 shares during the period. Finally, Squarepoint Ops LLC grew its stake in shares of Gray Television by 454.2% in the second quarter. Squarepoint Ops LLC now owns 142,541 shares of the company’s stock worth $741,000 after purchasing an additional 116,821 shares during the last quarter. Institutional investors own 78.64% of the company’s stock.

Analyst Ratings Changes

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

Gray Television Price Performance

GTN opened at $2.99 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.76. The company has a market cap of $298.00 million, a price-to-earnings ratio of 1.99, a price-to-earnings-growth ratio of 0.14 and a beta of 1.36. The stock has a fifty day simple moving average of $4.73 and a two-hundred day simple moving average of $5.02. Gray Television, Inc. has a 12-month low of $2.96 and a 12-month high of $10.07.

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

Gray Television Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 10.70%. Gray Television’s dividend payout ratio is currently 21.33%.

Insider Buying and Selling

In other news, EVP Kevin Paul Latek sold 150,216 shares of Gray Television stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $4.37, for a total value of $656,443.92. Following the completion of the transaction, the executive vice president now owns 509,212 shares of the company’s stock, valued at $2,225,256.44. The trade was a 22.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is currently owned by company insiders.

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.