Gray Television, Inc. (NYSE:GTN) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its stake in Gray Television, Inc. (NYSE:GTN) by 37.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 20,000 shares of the company’s stock after selling 12,133 shares during the period. Nisa Investment Advisors LLC’s holdings in Gray Television were worth $63,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Capital Management Corp VA grew its position in Gray Television by 27.6% during the 3rd quarter. Capital Management Corp VA now owns 5,408,269 shares of the company’s stock worth $28,988,000 after purchasing an additional 1,170,990 shares in the last quarter. GSA Capital Partners LLP boosted 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 worth $1,248,000 after buying an additional 172,801 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Gray Television during the second quarter valued at $881,000. Barclays PLC raised its position in Gray Television by 114.4% during the third quarter. Barclays PLC now owns 272,272 shares of the company’s stock valued at $1,460,000 after buying an additional 145,263 shares during the period. Finally, Squarepoint Ops LLC raised its position in Gray Television by 454.2% during the second quarter. Squarepoint Ops LLC now owns 142,541 shares of the company’s stock valued at $741,000 after buying an additional 116,821 shares during the period. 78.64% of the stock is owned by institutional investors and hedge funds.

Gray Television Stock Performance

Shares of GTN stock opened at $3.74 on Friday. Gray Television, Inc. has a fifty-two week low of $2.91 and a fifty-two week high of $9.95. The stock’s 50-day moving average is $3.60 and its two-hundred day moving average is $4.66. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $372.77 million, a P/E ratio of 2.49 and a beta of 1.39.

Gray Television (NYSE:GTN) last released its quarterly earnings data on Friday, November 8th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.08). The firm had revenue of $950.00 million during the quarter, compared to analyst estimates of $967.49 million. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The company’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.57) EPS. Analysts predict that Gray Television, Inc. will post 3.06 earnings per share for the current fiscal year.

Gray Television Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 8.56%. The ex-dividend date of this dividend was Friday, December 13th. Gray Television’s payout ratio is presently 21.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Barrington Research upgraded Gray Television to a “hold” rating in a research report on Thursday, November 14th. Benchmark decreased their price target on shares of Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a report on Monday, November 11th. Guggenheim lowered their price objective on shares of Gray Television from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, StockNews.com upgraded shares of Gray Television from a “sell” rating to a “hold” rating 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $6.67.

Insider Activity at Gray Television

In other Gray Television news, EVP Kevin Paul Latek sold 150,216 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $4.37, for a total transaction of $656,443.92. Following the transaction, the executive vice president now directly owns 509,212 shares in the company, valued at $2,225,256.44. This trade 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. 4.80% of the stock is owned by company insiders.

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.