Diversified Trust Co Has $120,000 Position in Gray Television, Inc. (NYSE:GTN)

Diversified Trust Co reduced its position in Gray Television, Inc. (NYSE:GTN) by 12.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 22,452 shares of the company’s stock after selling 3,181 shares during the quarter. Diversified Trust Co’s holdings in Gray Television were worth $120,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Gray Television by 9.8% during the first quarter. Vanguard Group Inc. now owns 5,662,398 shares of the company’s stock worth $35,786,000 after acquiring an additional 506,106 shares in the last quarter. Capital Management Corp VA raised its stake in Gray Television by 18.6% during the first quarter. Capital Management Corp VA now owns 3,670,410 shares of the company’s stock worth $23,197,000 after buying an additional 575,527 shares during the last quarter. Tributary Capital Management LLC lifted its stake in shares of Gray Television by 0.8% in the 2nd 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 during the period. Clearbridge Investments LLC lifted its stake in Gray Television by 1.9% in the first quarter. Clearbridge Investments LLC now owns 1,307,308 shares of the company’s stock valued at $8,262,000 after buying an additional 23,878 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Gray Television by 4.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,055,389 shares of the company’s stock valued at $5,488,000 after acquiring an additional 48,623 shares during the period. 78.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. 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. Wells Fargo & Company dropped their price target on shares of Gray Television from $6.00 to $4.00 and set an “underweight” rating on the stock in a research report on Friday, August 9th. Finally, Guggenheim cut their price objective on Gray Television from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $8.33.

Gray Television Trading Up 4.7 %

Shares of Gray Television stock opened at $5.60 on Friday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market capitalization of $558.15 million, a P/E ratio of 80.01, a P/E/G ratio of 0.12 and a beta of 1.49. Gray Television, Inc. has a 52-week low of $4.15 and a 52-week high of $10.07. The stock’s 50-day simple moving average is $4.98 and its 200 day simple moving average is $5.50.

Gray Television (NYSE:GTN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The company had revenue of $826.00 million during the quarter, compared to the consensus estimate of $840.33 million. Gray Television had a return on equity of 3.02% and a net margin of 1.84%. Gray Television’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.10) earnings per share. As a group, research analysts anticipate that Gray Television, Inc. will post 4.37 EPS for the current year.

Gray Television Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.08 per share. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.71%. Gray Television’s dividend payout ratio (DPR) is currently 457.21%.

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.