Gray Television, Inc. (GTN) Receives Consensus Rating of “Buy” from Brokerages

Shares of Gray Television, Inc. (NYSE:GTN) have been assigned an average rating of “Buy” from the ten brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and eight have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $18.83.

Several research analysts recently commented on GTN shares. Zacks Investment Research raised shares of Gray Television from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Wednesday, November 8th. Guggenheim started coverage on shares of Gray Television in a report on Wednesday, October 18th. They issued a “buy” rating and a $20.00 price objective for the company. ValuEngine downgraded shares of Gray Television from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 30th. Benchmark reissued a “buy” rating and issued a $21.00 price target on shares of Gray Television in a report on Tuesday, November 7th. Finally, Jefferies Group started coverage on shares of Gray Television in a report on Thursday, December 14th. They issued a “buy” rating and a $18.00 price target for the company.

Gray Television (NYSE:GTN) opened at $15.00 on Friday. The company has a market cap of $1,356.75, a P/E ratio of 13.25, a P/E/G ratio of 1.97 and a beta of 2.46. Gray Television has a fifty-two week low of $11.70 and a fifty-two week high of $17.80. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 3.11.

In other Gray Television news, EVP Kevin Paul Latek sold 97,634 shares of the firm’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 219,706 shares of the company’s stock, valued at approximately $3,726,213.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 12.00% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in GTN. Schwab Charles Investment Management Inc. boosted its holdings in Gray Television by 32.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 393,627 shares of the company’s stock valued at $5,393,000 after purchasing an additional 96,111 shares during the period. Principal Financial Group Inc. raised its position in shares of Gray Television by 293.4% during the 2nd quarter. Principal Financial Group Inc. now owns 43,049 shares of the company’s stock valued at $590,000 after buying an additional 32,105 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Gray Television by 61.5% during the 2nd quarter. Alliancebernstein L.P. now owns 119,343 shares of the company’s stock valued at $1,635,000 after buying an additional 45,443 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Gray Television by 3.1% during the 2nd quarter. Teachers Advisors LLC now owns 122,147 shares of the company’s stock valued at $1,673,000 after buying an additional 3,684 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in shares of Gray Television by 0.4% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 373,754 shares of the company’s stock valued at $5,120,000 after buying an additional 1,623 shares in the last quarter. 68.12% of the stock is owned by hedge funds and other institutional investors.

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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).

Analyst Recommendations for Gray Television (NYSE:GTN)

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