Gray Television (NYSE:GTN – Get Rating) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
Other analysts have also recently issued research reports about the stock. Barrington Research cut their price target on shares of Gray Television from $25.00 to $15.00 in a report on Thursday, November 10th. Wells Fargo & Company cut shares of Gray Television from an “overweight” rating to an “underweight” rating and reduced their price target for the company from $25.00 to $7.00 in a research report on Wednesday, November 9th. Guggenheim lowered their price objective on shares of Gray Television to $19.00 in a report on Tuesday, November 15th. Finally, Stephens reduced their target price on Gray Television from $18.00 to $12.00 and set an “equal weight” rating on the stock in a report on Monday, November 7th.
Gray Television Trading Up 0.7 %
NYSE GTN opened at $11.39 on Thursday. The stock has a market cap of $1.06 billion, a P/E ratio of 4.33, a price-to-earnings-growth ratio of 0.24 and a beta of 1.60. Gray Television has a fifty-two week low of $8.61 and a fifty-two week high of $24.81. The stock has a 50 day simple moving average of $12.87 and a two-hundred day simple moving average of $16.53. The company has a debt-to-equity ratio of 3.41, a quick ratio of 2.09 and a current ratio of 2.09.
Insider Buying and Selling
In other Gray Television news, Director Richard Lee Boger purchased 4,000 shares of the firm’s stock in a transaction on Monday, November 7th. The shares were acquired at an average cost of $9.10 per share, with a total value of $36,400.00. Following the completion of the acquisition, the director now directly owns 45,538 shares in the company, valued at $414,395.80. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director D Patrick Laplatney bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The stock was purchased at an average price of $9.99 per share, for a total transaction of $99,900.00. Following the completion of the transaction, the director now owns 462,639 shares in the company, valued at $4,621,763.61. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Lee Boger bought 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The shares were bought at an average cost of $9.10 per share, with a total value of $36,400.00. Following the completion of the purchase, the director now directly owns 45,538 shares of the company’s stock, valued at approximately $414,395.80. The disclosure for this purchase can be found here. In the last quarter, insiders bought 17,200 shares of company stock valued at $172,620. Company insiders own 4.80% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Darsana Capital Partners LP increased its holdings in shares of Gray Television by 352.1% in the second quarter. Darsana Capital Partners LP now owns 4,140,863 shares of the company’s stock worth $69,939,000 after purchasing an additional 3,225,000 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Gray Television by 194.6% during the 2nd quarter. Millennium Management LLC now owns 3,207,464 shares of the company’s stock worth $54,174,000 after acquiring an additional 2,118,611 shares in the last quarter. Baupost Group LLC MA bought a new position in shares of Gray Television during the 1st quarter valued at approximately $28,491,000. Goldman Sachs Group Inc. increased its holdings in shares of Gray Television by 30.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,311,553 shares of the company’s stock worth $51,016,000 after buying an additional 533,361 shares during the last quarter. Finally, Boston Partners lifted its stake in shares of Gray Television by 33.9% in the 1st quarter. Boston Partners now owns 1,682,586 shares of the company’s stock valued at $36,975,000 after purchasing an additional 426,393 shares during the last quarter. Institutional investors own 80.61% of the company’s stock.
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, Justice, This TV Network, Antenna TV, Telemundo, Cozi, Heroes and Icons, and MOVIES! Network; and local news/weather channels in various markets.