Dark Forest Capital Management LP Has $331,000 Stake in Gray Television, Inc. (NYSE:GTN)

Dark Forest Capital Management LP boosted its position in Gray Television, Inc. (NYSE:GTN) by 502.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,617 shares of the company’s stock after purchasing an additional 53,053 shares during the period. Dark Forest Capital Management LP’s holdings in Gray Television were worth $331,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC increased its stake 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 valued at $5,488,000 after buying an additional 48,623 shares during the period. Caxton Associates LP bought a new position in shares of Gray Television during the second quarter worth about $368,000. Squarepoint Ops LLC boosted its holdings in Gray Television by 454.2% in the second quarter. Squarepoint Ops LLC now owns 142,541 shares of the company’s stock valued at $741,000 after acquiring an additional 116,821 shares during the last quarter. MQS Management LLC increased its position in Gray Television by 104.9% during the 2nd quarter. MQS Management LLC now owns 37,645 shares of the company’s stock valued at $196,000 after purchasing an additional 19,273 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in Gray Television by 17.0% during the 2nd quarter. Hsbc Holdings PLC now owns 35,649 shares of the company’s stock worth $187,000 after purchasing an additional 5,177 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors.

Gray Television Trading Up 4.1 %

GTN opened at $5.31 on Friday. Gray Television, Inc. has a fifty-two week low of $4.15 and a fifty-two week high of $10.07. The firm has a market capitalization of $526.42 million, a PE ratio of -44.25, a P/E/G ratio of 0.10 and a beta of 1.49. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.63 and a quick ratio of 1.63. The company’s 50-day moving average is $5.14 and its 200 day moving average is $5.53.

Gray Television (NYSE:GTN) last announced its earnings results 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 company had revenue of $826.00 million for the quarter, compared to analysts’ expectations of $840.33 million. Gray Television had a net margin of 1.84% and a return on equity of 3.02%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.10) EPS. As a group, research analysts predict that Gray Television, Inc. will post 4.97 earnings per share for the current fiscal year.

Gray Television Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 6.03%. The ex-dividend date of this dividend is Friday, September 13th. Gray Television’s payout ratio is currently -266.67%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Guggenheim cut their price target on shares of Gray Television from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Wells Fargo & Company decreased their target price on Gray Television from $6.00 to $4.00 and set an “underweight” rating for the company in a research note on Friday, August 9th. Finally, Benchmark dropped their price target on Gray Television from $13.00 to $11.00 and set a “buy” rating on the stock 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 given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.33.

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.