Cipher Capital LP grew its stake in Gray Television, Inc. (NYSE:GTN) by 37.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 197,092 shares of the company’s stock after purchasing an additional 53,218 shares during the period. Cipher Capital LP owned about 0.27% of Gray Television worth $3,095,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its position in shares of Gray Television by 4,901.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,452 shares of the company’s stock valued at $102,000 after acquiring an additional 7,303 shares in the last quarter. LSV Asset Management acquired a new stake in shares of Gray Television during the 2nd quarter valued at about $153,000. SG Americas Securities LLC acquired a new stake in shares of Gray Television during the 3rd quarter valued at about $163,000. Macquarie Group Ltd. acquired a new stake in shares of Gray Television during the 3rd quarter valued at about $166,000. Finally, Advisor Group Inc. boosted its position in shares of Gray Television by 109.3% during the 3rd quarter. Advisor Group Inc. now owns 11,932 shares of the company’s stock valued at $187,000 after acquiring an additional 6,232 shares in the last quarter. Institutional investors own 80.71% of the company’s stock.

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Several brokerages have recently weighed in on GTN. 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 lowered shares of Gray Television from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. Wells Fargo & Company reiterated an “outperform” rating and set a $18.00 target price (up from $15.50) on shares of Gray Television in a research report on Thursday, August 10th. Benchmark Co. lifted their target price on shares of Gray Television from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Finally, Royal Bank Of Canada lifted their target price on shares of Gray Television from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Gray Television currently has a consensus rating of “Buy” and an average target price of $18.50.

Gray Television, Inc. (NYSE:GTN) traded up $0.35 during trading hours on Monday, reaching $15.70. 565,900 shares of the company’s stock were exchanged, compared to its average volume of 900,943. The firm has a market capitalization of $1,120.00, a price-to-earnings ratio of 13.77, a PEG ratio of 1.50 and a beta of 3.22. Gray Television, Inc. has a 52-week low of $9.20 and a 52-week high of $16.70. The company has a debt-to-equity ratio of 3.11, a quick ratio of 3.28 and a current ratio of 3.28.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Monday, November 6th. The company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.01). The firm had revenue of $219.00 million during the quarter, compared to analyst estimates of $218.78 million. Gray Television had a net margin of 14.91% and a return on equity of 15.53%. Gray Television’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 earnings per share. analysts expect that Gray Television, Inc. will post 1.61 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Gray Television (NYSE:GTN)

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