Axa bought a new position in Gray Television, Inc. (NYSE:GTN) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 197,210 shares of the company’s stock, valued at approximately $3,451,000. Axa owned 0.22% of Gray Television as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in GTN. Meeder Asset Management Inc. boosted its holdings in shares of Gray Television by 1,231.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 7,974 shares of the company’s stock worth $139,000 after purchasing an additional 7,375 shares during the period. Aperio Group LLC purchased a new position in shares of Gray Television in the 2nd quarter worth approximately $177,000. Financial Counselors Inc. purchased a new position in shares of Gray Television in the 3rd quarter worth approximately $194,000. HRT Financial LLC purchased a new position in shares of Gray Television in the 2nd quarter worth approximately $225,000. Finally, Sei Investments Co. boosted its holdings in shares of Gray Television by 14,941.7% in the 2nd quarter. Sei Investments Co. now owns 16,245 shares of the company’s stock worth $257,000 after purchasing an additional 16,137 shares during the period. Hedge funds and other institutional investors own 86.53% of the company’s stock.
GTN opened at $18.49 on Monday. Gray Television, Inc. has a 52-week low of $10.70 and a 52-week high of $20.24. The company has a debt-to-equity ratio of 1.64, a current ratio of 6.32 and a quick ratio of 6.32. The firm has a market cap of $1.64 billion, a P/E ratio of 15.80, a price-to-earnings-growth ratio of 0.85 and a beta of 2.23.
Gray Television (NYSE:GTN) last posted its quarterly earnings data on Tuesday, November 6th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.09. Gray Television had a return on equity of 14.95% and a net margin of 29.12%. The company had revenue of $279.00 million during the quarter, compared to analysts’ expectations of $276.52 million. During the same quarter in the previous year, the business earned $0.21 EPS. Gray Television’s revenue was up 27.4% compared to the same quarter last year. As a group, research analysts forecast that Gray Television, Inc. will post 2.18 earnings per share for the current fiscal year.
A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded Gray Television from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Friday, November 9th. Noble Financial reiterated a “buy” rating on shares of Gray Television in a report on Wednesday, November 7th. Benchmark boosted their price objective on Gray Television from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, November 7th. ValuEngine upgraded Gray Television from a “hold” rating to a “buy” rating in a report on Monday, October 22nd. Finally, Barrington Research restated a “buy” rating and set a $19.00 price objective on shares of Gray Television in a report on Tuesday, August 7th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $22.25.
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Gray Television Profile
Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 23, 2018, the company owned and operated television stations in 57 television markets broadcasting approximately 200 program streams, including approximately 100 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.
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