Principal Financial Group Inc. trimmed its holdings in shares of Gray Television, Inc. (NYSE:GTN) by 29.9% during the 1st quarter, Holdings Channel reports. The firm owned 24,005 shares of the company’s stock after selling 10,261 shares during the quarter. Principal Financial Group Inc.’s holdings in Gray Television were worth $305,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GTN. Guggenheim Capital LLC purchased a new stake in Gray Television during the 4th quarter valued at $167,000. Rhumbline Advisers boosted its stake in Gray Television by 17.4% during the 1st quarter. Rhumbline Advisers now owns 76,204 shares of the company’s stock valued at $968,000 after purchasing an additional 11,285 shares during the last quarter. Hussman Strategic Advisors Inc. boosted its stake in Gray Television by 3,888.9% during the 1st quarter. Hussman Strategic Advisors Inc. now owns 179,500 shares of the company’s stock valued at $2,280,000 after purchasing an additional 175,000 shares during the last quarter. SG Americas Securities LLC boosted its stake in Gray Television by 39.7% during the 1st quarter. SG Americas Securities LLC now owns 20,252 shares of the company’s stock valued at $257,000 after purchasing an additional 5,760 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Gray Television during the 1st quarter valued at $167,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Several analysts have commented on GTN shares. ValuEngine downgraded Gray Television from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Benchmark reiterated a “buy” rating and set a $20.00 target price on shares of Gray Television in a research note on Thursday, May 3rd. Zacks Investment Research downgraded Gray Television from a “hold” rating to a “sell” rating in a research note on Wednesday, May 9th. Noble Financial reiterated a “buy” rating on shares of Gray Television in a research note on Thursday, May 10th. Finally, Gabelli reiterated a “buy” rating on shares of Gray Television in a research note on Wednesday, June 20th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Gray Television currently has an average rating of “Buy” and a consensus target price of $21.25.

GTN stock opened at $17.10 on Wednesday. The firm has a market capitalization of $1.51 billion, a PE ratio of 14.57, a PEG ratio of 1.45 and a beta of 2.56. Gray Television, Inc. has a 1 year low of $10.70 and a 1 year high of $17.80. The company has a current ratio of 4.69, a quick ratio of 4.69 and a debt-to-equity ratio of 1.74.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Tuesday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.05. The firm had revenue of $250.34 million for the quarter, compared to the consensus estimate of $252.11 million. Gray Television had a return on equity of 11.89% and a net margin of 25.99%. equities research analysts expect that Gray Television, Inc. will post 1.95 earnings per share for the current fiscal year.

Gray Television Profile

Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 23, 2018, the company owned and operated television stations in 57 television markets broadcasting approximately 200 program streams, including approximately 100 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.

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

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