Gray Television, Inc. (NYSE:GTN) was the target of unusually large options trading activity on Tuesday. Stock traders acquired 3,011 put options on the stock. This is an increase of approximately 3,283% compared to the typical daily volume of 89 put options.

Several hedge funds have recently made changes to their positions in GTN. Parametric Portfolio Associates LLC increased its holdings in Gray Television by 7.0% during the first quarter. Parametric Portfolio Associates LLC now owns 30,941 shares of the company’s stock worth $449,000 after buying an additional 2,015 shares during the last quarter. Teachers Advisors LLC increased its holdings in Gray Television by 5.1% during the first quarter. Teachers Advisors LLC now owns 118,463 shares of the company’s stock worth $1,718,000 after buying an additional 5,724 shares during the last quarter. Legal & General Group Plc increased its holdings in Gray Television by 3.7% during the first quarter. Legal & General Group Plc now owns 15,997 shares of the company’s stock worth $230,000 after buying an additional 565 shares during the last quarter. Vanguard Group Inc. increased its holdings in Gray Television by 4.5% during the first quarter. Vanguard Group Inc. now owns 2,716,180 shares of the company’s stock worth $39,385,000 after buying an additional 116,874 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Gray Television by 8.4% during the first quarter. Geode Capital Management LLC now owns 503,391 shares of the company’s stock worth $7,299,000 after buying an additional 38,866 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently weighed in on the stock. ValuEngine lowered shares of Gray Television from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $18.00 price target (up previously from $15.50) on shares of Gray Television in a research note on Thursday, August 10th. Benchmark lifted their price target on shares of Gray Television from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Royal Bank Of Canada lifted their price target on shares of Gray Television from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. Finally, BidaskClub lowered shares of Gray Television from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 6th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Gray Television presently has a consensus rating of “Buy” and an average price target of $18.50.

Shares of Gray Television (NYSE:GTN) opened at $14.40 on Friday. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 3.11. The company has a market cap of $1,157.99, a price-to-earnings ratio of 13.99, a PEG ratio of 1.52 and a beta of 3.22. Gray Television has a 1 year low of $9.60 and a 1 year high of $16.70.

Gray Television (NYSE:GTN) last announced its quarterly earnings data on Monday, November 6th. The company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.01). The business had revenue of $219.00 million during the quarter, compared to the consensus estimate of $218.78 million. Gray Television had a return on equity of 15.53% and a net margin of 14.91%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 EPS. research analysts forecast that Gray Television will post 1.61 EPS for the current year.

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About Gray Television

Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in various markets across the United States. As of February 21, 2017, the Company owned and/or operated television stations in 54 television markets broadcasting over 200 separate programming streams, including 37 affiliates of the CBS Network (CBS), 29 affiliates of the NBC Network (NBC), 20 affiliates of the ABC Network (ABC) and 15 affiliates of the FOX Network (FOX).

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