Harriett J. Robinson Purchases 6,100 Shares of Gray Television Inc. (GTN) Stock
Gray Television Inc. (NYSE:GTN) Director Harriett J. Robinson acquired 6,100 shares of the firm’s stock in a transaction on Wednesday, November 16th. The shares were acquired at an average price of $9.55 per share, with a total value of $58,255.00. Following the completion of the purchase, the director now owns 992,753 shares in the company, valued at approximately $9,480,791.15. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Gray Television Inc. (NYSE:GTN) opened at 9.55 on Tuesday. Gray Television Inc. has a 1-year low of $7.00 and a 1-year high of $17.50. The company has a 50 day moving average of $9.35 and a 200 day moving average of $10.65. The firm has a market capitalization of $686.44 million, a PE ratio of 16.90 and a beta of 3.25.
Gray Television (NYSE:GTN) last released its earnings results on Tuesday, November 8th. The company reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.13. Gray Television had a return on equity of 13.68% and a net margin of 5.57%. The firm had revenue of $204.50 million for the quarter, compared to analysts’ expectations of $220.35 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The firm’s quarterly revenue was up 35.3% on a year-over-year basis. Analysts forecast that Gray Television Inc. will post $1.50 EPS for the current year.
GTN has been the subject of several research reports. Wells Fargo & Co. restated a “buy” rating on shares of Gray Television in a research note on Monday, September 26th. Zacks Investment Research cut shares of Gray Television from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Finally, TheStreet cut shares of Gray Television from a “buy” rating to a “hold” rating in a research note on Monday, October 31st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Gray Television currently has an average rating of “Buy” and an average target price of $17.67.
A number of institutional investors have recently made changes to their positions in the stock. Nationwide Fund Advisors raised its position in shares of Gray Television by 0.5% in the second quarter. Nationwide Fund Advisors now owns 88,698 shares of the company’s stock valued at $962,000 after buying an additional 448 shares in the last quarter. BlackRock Inc. raised its position in shares of Gray Television by 6.1% in the third quarter. BlackRock Inc. now owns 10,216 shares of the company’s stock valued at $106,000 after buying an additional 589 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Gray Television by 0.6% in the second quarter. California State Teachers Retirement System now owns 134,485 shares of the company’s stock valued at $1,459,000 after buying an additional 758 shares in the last quarter. Rhumbline Advisers raised its position in shares of Gray Television by 1.3% in the third quarter. Rhumbline Advisers now owns 71,723 shares of the company’s stock valued at $743,000 after buying an additional 900 shares in the last quarter. Finally, BlackRock Group LTD raised its position in shares of Gray Television by 2.3% in the third quarter. BlackRock Group LTD now owns 47,136 shares of the company’s stock valued at $488,000 after buying an additional 1,044 shares in the last quarter. Institutional investors own 84.16% of the company’s stock.
Gray Television Company Profile
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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