Gray Television, Inc. (GTN) Shares Bought by Bank of Montreal Can
Bank of Montreal Can boosted its position in shares of Gray Television, Inc. (NYSE:GTN) by 31,815.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 120,322 shares of the company’s stock after buying an additional 119,945 shares during the period. Bank of Montreal Can owned 0.18% of Gray Television worth $1,648,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Gray Television during the fourth quarter valued at about $1,302,000. Feltz Wealth PLAN Inc. bought a new position in shares of Gray Television during the first quarter valued at about $101,000. Advisory Services Network LLC bought a new position in shares of Gray Television during the first quarter valued at about $252,000. Acrospire Investment Management LLC boosted its position in shares of Gray Television by 1,072.9% in the first quarter. Acrospire Investment Management LLC now owns 11,260 shares of the company’s stock valued at $163,000 after buying an additional 10,300 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new position in shares of Gray Television during the first quarter valued at about $1,908,000. Institutional investors own 86.08% of the company’s stock.
Shares of Gray Television, Inc. (NYSE GTN) traded up 1.195% during trading on Tuesday, hitting $14.825. The stock had a trading volume of 230,498 shares. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 9.220 and a beta of 3.28. Gray Television, Inc. has a 12-month low of $7.00 and a 12-month high of $15.45. The stock has a 50-day moving average of $14.20 and a 200 day moving average of $13.62.
Gray Television (NYSE:GTN) last issued its earnings results on Tuesday, August 8th. The company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. Gray Television had a return on equity of 17.32% and a net margin of 13.38%. The company had revenue of $226.70 million during the quarter, compared to the consensus estimate of $221.05 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. The company’s revenue was up 15.3% compared to the same quarter last year. On average, analysts predict that Gray Television, Inc. will post $0.92 earnings per share for the current fiscal year.
Several equities analysts have recently issued reports on GTN shares. Royal Bank Of Canada lifted their price objective on Gray Television from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. Benchmark Co. reiterated a “buy” rating and issued a $19.00 price objective on shares of Gray Television in a research note on Friday, May 5th. BidaskClub cut Gray Television from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 6th. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $18.00 price objective (up previously from $15.50) on shares of Gray Television in a research note on Thursday, August 10th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $17.00.
About Gray Television
Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in various markets across the United States. As of February 21, 2017, the Company owned and/or operated television stations in 54 television markets broadcasting over 200 separate programming streams, including 37 affiliates of the CBS Network (CBS), 29 affiliates of the NBC Network (NBC), 20 affiliates of the ABC Network (ABC) and 15 affiliates of the FOX Network (FOX).
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