Gray Television, Inc. (GTN) Shares Sold by Calixto Global Investors LP
Calixto Global Investors LP decreased its stake in shares of Gray Television, Inc. (NYSE:GTN) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 778,722 shares of the company’s stock after selling 33,600 shares during the period. Gray Television comprises 2.8% of Calixto Global Investors LP’s portfolio, making the stock its 13th largest holding. Calixto Global Investors LP owned about 1.18% of Gray Television worth $10,668,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of the stock. FMR LLC raised its position in Gray Television by 52.1% in the second quarter. FMR LLC now owns 5,870,039 shares of the company’s stock worth $80,419,000 after acquiring an additional 2,011,342 shares during the period. Vanguard Group Inc. raised its position in Gray Television by 5.3% in the second quarter. Vanguard Group Inc. now owns 2,861,369 shares of the company’s stock worth $39,201,000 after acquiring an additional 145,189 shares during the period. Victory Capital Management Inc. raised its position in Gray Television by 6.7% in the first quarter. Victory Capital Management Inc. now owns 2,489,043 shares of the company’s stock worth $36,091,000 after acquiring an additional 156,696 shares during the period. Penn Capital Management Co. Inc. raised its position in Gray Television by 15.4% in the second quarter. Penn Capital Management Co. Inc. now owns 1,562,378 shares of the company’s stock worth $21,554,000 after acquiring an additional 209,076 shares during the period. Finally, Sound Point Capital Management LP raised its position in Gray Television by 0.4% in the first quarter. Sound Point Capital Management LP now owns 1,076,051 shares of the company’s stock worth $15,603,000 after acquiring an additional 4,583 shares during the period. Institutional investors own 89.46% of the company’s stock.
Shares of Gray Television, Inc. (NYSE GTN) traded up 2.61% during mid-day trading on Friday, hitting $15.70. 935,938 shares of the stock traded hands. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 9.76 and a beta of 3.29. The firm has a 50 day moving average of $14.18 and a 200 day moving average of $13.88. Gray Television, Inc. has a 12 month low of $7.00 and a 12 month high of $15.75.
Gray Television (NYSE:GTN) last posted its earnings results on Tuesday, August 8th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. Gray Television had a net margin of 13.38% and a return on equity of 17.32%. The firm had revenue of $226.70 million during the quarter, compared to analysts’ expectations of $221.05 million. During the same period in the previous year, the business posted $0.24 EPS. The business’s revenue was up 15.3% compared to the same quarter last year. On average, equities analysts expect that Gray Television, Inc. will post $1.61 EPS for the current fiscal year.
Several research analysts have weighed in on the stock. BidaskClub upgraded shares of Gray Television from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded shares of Gray Television from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Thursday, September 21st. ValuEngine upgraded shares of Gray Television from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 21st. Wells Fargo & Company reiterated an “outperform” rating and issued a $18.00 price target (up from $15.50) on shares of Gray Television in a research report on Thursday, August 10th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $17.00 price target on shares of Gray Television in a research report on Wednesday. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $17.80.
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Gray Television Company Profile
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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