Gray Television Inc. (NYSE:GTN) Vice Chairman Hilton H. Howell, Jr. bought 1,720 shares of the stock in a transaction dated Tuesday, November 15th. The shares were acquired at an average price of $8.98 per share, for a total transaction of $15,445.60. Following the completion of the purchase, the insider now directly owns 537,021 shares in the company, valued at $4,822,448.58. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Gray Television Inc. (NYSE:GTN) remained flat at $9.55 during midday trading on Friday. The company’s stock had a trading volume of 116,282 shares. The stock has a market cap of $686.44 million, a price-to-earnings ratio of 16.90 and a beta of 3.25. The stock’s 50 day moving average price is $9.38 and its 200 day moving average price is $10.74. Gray Television Inc. has a 12-month low of $7.00 and a 12-month high of $17.70.

Gray Television (NYSE:GTN) last issued its quarterly earnings results on Tuesday, November 8th. The company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.13. The firm earned $204.50 million during the quarter, compared to analysts’ expectations of $220.35 million. Gray Television had a return on equity of 13.68% and a net margin of 5.57%. Gray Television’s revenue for the quarter was up 35.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 earnings per share. Equities research analysts expect that Gray Television Inc. will post $1.50 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of the company. ClariVest Asset Management LLC boosted its stake in shares of Gray Television by 15.4% in the second quarter. ClariVest Asset Management LLC now owns 76,291 shares of the company’s stock valued at $828,000 after buying an additional 10,200 shares during the last quarter. Emerald Advisers Inc. PA boosted its stake in Gray Television by 25.0% in the second quarter. Emerald Advisers Inc. PA now owns 84,986 shares of the company’s stock worth $922,000 after buying an additional 17,015 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in Gray Television by 36.9% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 37,862 shares of the company’s stock worth $411,000 after buying an additional 10,214 shares in the last quarter. SignalPoint Asset Management LLC boosted its stake in Gray Television by 7.0% in the second quarter. SignalPoint Asset Management LLC now owns 45,268 shares of the company’s stock worth $491,000 after buying an additional 2,978 shares in the last quarter. Finally, Redwood Investments LLC boosted its stake in Gray Television by 15.7% in the second quarter. Redwood Investments LLC now owns 320,925 shares of the company’s stock worth $3,482,000 after buying an additional 43,483 shares in the last quarter. 82.35% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently commented on GTN shares. Wells Fargo & Co. reiterated a “buy” rating on shares of Gray Television in a research note on Monday, September 26th. Zacks Investment Research cut Gray Television from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Finally, TheStreet cut Gray Television from a “buy” rating to a “hold” rating in a research note on Monday, October 31st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price 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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