Gray Television (NYSE:GTN) PT Raised to $13.00 at Benchmark

Gray Television (NYSE:GTN) had its price target lifted by Benchmark from $11.00 to $13.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s price objective would indicate a potential upside of 82.46% from the company’s current price.

GTN has been the topic of several other reports. Wells Fargo & Company raised their target price on shares of Gray Television from $5.50 to $6.00 and gave the company an “underweight” rating in a report on Wednesday. Barrington Research reiterated a “market perform” rating on shares of Gray Television in a research report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.40.

Gray Television Trading Up 5.7 %

Shares of NYSE:GTN opened at $7.13 on Wednesday. The business’s 50 day simple moving average is $5.96 and its 200 day simple moving average is $7.39. Gray Television has a 1 year low of $5.44 and a 1 year high of $10.69. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market capitalization of $692.58 million, a P/E ratio of -5.13, a P/E/G ratio of 0.15 and a beta of 1.55.

Gray Television (NYSE:GTN) last released its earnings results on Tuesday, May 7th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.25. Gray Television had a negative return on equity of 3.76% and a negative net margin of 2.32%. The company had revenue of $823.00 million for the quarter, compared to analyst estimates of $824.98 million. During the same period in the prior year, the firm posted ($0.48) EPS. Gray Television’s quarterly revenue was up 2.7% on a year-over-year basis. On average, research analysts anticipate that Gray Television will post 4.21 EPS for the current fiscal year.

Insider Activity at Gray Television

In related news, CEO Hilton H. Howell, Jr. bought 10,000 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were purchased at an average price of $8.09 per share, for a total transaction of $80,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,982,386 shares of the company’s stock, valued at approximately $24,127,502.74. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 13.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gray Television

Several hedge funds have recently modified their holdings of GTN. CWM LLC boosted its stake in shares of Gray Television by 61.5% during the fourth quarter. CWM LLC now owns 3,017 shares of the company’s stock valued at $27,000 after purchasing an additional 1,149 shares in the last quarter. M&T Bank Corp boosted its position in Gray Television by 10.4% during the 4th quarter. M&T Bank Corp now owns 17,485 shares of the company’s stock worth $157,000 after buying an additional 1,644 shares during the period. Victory Capital Management Inc. grew its holdings in Gray Television by 9.1% during the 3rd quarter. Victory Capital Management Inc. now owns 19,990 shares of the company’s stock worth $138,000 after acquiring an additional 1,665 shares during the last quarter. Teza Capital Management LLC increased its position in Gray Television by 13.6% in the 3rd quarter. Teza Capital Management LLC now owns 20,684 shares of the company’s stock valued at $143,000 after acquiring an additional 2,470 shares during the period. Finally, Oak Thistle LLC raised its stake in shares of Gray Television by 33.1% during the fourth quarter. Oak Thistle LLC now owns 14,293 shares of the company’s stock valued at $128,000 after acquiring an additional 3,551 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

About Gray Television

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, Circle, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.