Atria Investments Inc Increases Stake in Gray Television, Inc. (NYSE:GTN)

Atria Investments Inc increased its holdings in Gray Television, Inc. (NYSE:GTN) by 367.2% in the third quarter, Holdings Channel.com reports. The firm owned 63,901 shares of the company’s stock after acquiring an additional 50,223 shares during the period. Atria Investments Inc’s holdings in Gray Television were worth $343,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GTN. nVerses Capital LLC bought a new stake in Gray Television in the 2nd quarter worth $27,000. CWM LLC lifted its position in shares of Gray Television by 733.1% in the 2nd quarter. CWM LLC now owns 7,448 shares of the company’s stock worth $39,000 after purchasing an additional 6,554 shares during the period. Creative Planning purchased a new stake in shares of Gray Television in the 3rd quarter worth about $56,000. HBK Sorce Advisory LLC purchased a new stake in shares of Gray Television in the 2nd quarter worth about $58,000. Finally, Choreo LLC purchased a new stake in shares of Gray Television in the 2nd quarter worth about $60,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Gray Television Stock Up 3.4 %

Shares of Gray Television stock opened at $4.36 on Friday. 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, Inc. has a 1 year low of $3.95 and a 1 year high of $10.07. The firm’s 50-day moving average is $5.25 and its two-hundred day moving average is $5.37. The stock has a market cap of $434.06 million, a price-to-earnings ratio of 2.90, a PEG ratio of 0.15 and a beta of 1.47.

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

Gray Television Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 7.35%. The ex-dividend date of this dividend is Friday, December 13th. Gray Television’s payout ratio is 21.33%.

Analyst Ratings Changes

GTN has been the subject of a number of recent research reports. Guggenheim lowered their price target on shares of Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Benchmark reduced their price target on shares of Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Barrington Research upgraded shares of Gray Television to a “hold” rating in a research note on Thursday, November 14th. StockNews.com upgraded shares of Gray Television from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company reduced their price target on shares of Gray Television from $6.00 to $4.00 and set an “underweight” rating for the company in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.67.

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.