Gray Television, Inc. (GTN) Receives Average Recommendation of “Buy” from Analysts
Shares of Gray Television, Inc. (NYSE:GTN) have been assigned a consensus rating of “Buy” from the ten brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $18.67.
GTN has been the topic of a number of recent research reports. Royal Bank of Canada restated a “buy” rating and set a $17.00 price target on shares of Gray Television in a research report on Wednesday, September 27th. Zacks Investment Research upgraded shares of Gray Television from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Thursday, September 21st. Jefferies Group initiated coverage on shares of Gray Television in a research report on Thursday, December 14th. They set a “buy” rating and a $18.00 price target on the stock. ValuEngine lowered shares of Gray Television from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 30th. Finally, Benchmark restated a “buy” rating and set a $21.00 price target on shares of Gray Television in a research report on Tuesday, November 7th.
Gray Television (NYSE:GTN) opened at $16.85 on Tuesday. The firm has a market cap of $1,513.99, a PE ratio of 14.78, a P/E/G ratio of 2.20 and a beta of 3.14. Gray Television has a 52-week low of $9.95 and a 52-week high of $17.50. The company has a debt-to-equity ratio of 3.11, a quick ratio of 3.28 and a current ratio of 3.28.
In other Gray Television news, EVP Kevin Paul Latek sold 97,634 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $16.96, for a total value of $1,655,872.64. Following the transaction, the executive vice president now directly owns 219,706 shares in the company, valued at approximately $3,726,213.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.00% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Dalton Greiner Hartman Maher & Co. acquired a new position in Gray Television in the 4th quarter valued at about $5,338,000. GSA Capital Partners LLP boosted its holdings in Gray Television by 100.2% in the 3rd quarter. GSA Capital Partners LLP now owns 157,082 shares of the company’s stock valued at $2,466,000 after purchasing an additional 78,629 shares during the last quarter. Delphi Management Inc. MA acquired a new position in Gray Television in the 3rd quarter valued at about $550,000. Dana Investment Advisors Inc. acquired a new position in Gray Television in the 3rd quarter valued at about $2,276,000. Finally, California Public Employees Retirement System boosted its holdings in Gray Television by 2.2% in the 3rd quarter. California Public Employees Retirement System now owns 153,139 shares of the company’s stock valued at $2,404,000 after purchasing an additional 3,339 shares during the last quarter. Institutional investors own 67.43% of the company’s stock.
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Gray Television Company Profile
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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