Hilton H. Howell, Jr. Purchases 1,600 Shares of Gray Television Inc. (GTN) Stock
Gray Television Inc. (NYSE:GTN) Vice Chairman Hilton H. Howell, Jr. acquired 1,600 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The shares were acquired at an average price of $7.58 per share, with a total value of $12,128.00. Following the acquisition, the insider now owns 536,377 shares in the company, valued at $4,065,737.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Gray Television Inc. (NYSE:GTN) traded up 0.794% during trading on Thursday, reaching $9.525. The company had a trading volume of 158,539 shares. The company’s 50-day moving average is $9.40 and its 200 day moving average is $10.75. Gray Television Inc. has a 52 week low of $7.00 and a 52 week high of $17.70. The firm has a market capitalization of $684.65 million, a price-to-earnings ratio of 16.858 and a beta of 3.25.
Gray Television (NYSE:GTN) last announced its earnings results on Tuesday, November 8th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by $0.13. Gray Television had a net margin of 5.57% and a return on equity of 13.68%. The firm had revenue of $204.50 million for the quarter, compared to analyst estimates of $220.35 million. During the same period in the previous year, the company earned $0.18 EPS. Gray Television’s revenue was up 35.3% compared to the same quarter last year. Equities analysts anticipate that Gray Television Inc. will post $1.50 EPS for the current year.
Several institutional investors have recently made changes to their positions in the stock. BlackRock Institutional Trust Company N.A. boosted its position in shares of Gray Television by 5.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,745,794 shares of the company’s stock worth $20,461,000 after buying an additional 87,937 shares during the last quarter. Kennedy Capital Management Inc. purchased a new position in shares of Gray Television during the first quarter worth approximately $1,038,000. Balter Liquid Alternatives LLC purchased a new position in shares of Gray Television during the first quarter worth approximately $387,000. Eagle Asset Management Inc. boosted its position in shares of Gray Television by 26.6% in the second quarter. Eagle Asset Management Inc. now owns 320,082 shares of the company’s stock worth $3,472,000 after buying an additional 67,295 shares during the last quarter. Finally, 1st Global Advisors Inc. boosted its position in shares of Gray Television by 30.8% in the second quarter. 1st Global Advisors Inc. now owns 23,762 shares of the company’s stock worth $258,000 after buying an additional 5,598 shares during the last quarter. 82.35% of the stock is owned by institutional investors and hedge funds.
GTN has been the subject of a number of recent analyst reports. Zacks Investment Research cut Gray Television from a “buy” rating to a “hold” rating in a report on Thursday, July 28th. Wells Fargo & Co. restated a “buy” rating on shares of Gray Television in a report on Monday, September 26th. Finally, TheStreet cut Gray Television from a “buy” rating to a “hold” rating in a report on Monday, October 31st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Gray Television has an average rating of “Buy” and a consensus price target of $18.75.
About Gray Television
Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in markets across the United States. The Company owns and/or operates television stations in approximately 50 television markets broadcasting over 180 separate programming streams, including approximately 40 affiliates of the CBS Network (CBS), over 30 affiliates of the NBC Network (NBC), approximately 20 affiliates of the ABC Network (ABC) and over 10 affiliates of the FOX Network (FOX).
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