Royal Bank of Canada decreased its position in shares of Gray Television, Inc. (NYSE:GTN) by 27.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 966,025 shares of the company’s stock after selling 357,841 shares during the period. Royal Bank of Canada owned about 0.97% of Gray Television worth $10,375,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GTN. Nisa Investment Advisors LLC lifted its stake in Gray Television by 580.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 4,420 shares of the company’s stock worth $47,000 after acquiring an additional 3,770 shares in the last quarter. Aigen Investment Management LP acquired a new position in Gray Television during the 1st quarter worth about $52,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Gray Television by 45.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,429 shares of the company’s stock worth $112,000 after acquiring an additional 3,245 shares in the last quarter. Arden Trust Co acquired a new position in Gray Television during the 1st quarter worth about $125,000. Finally, 55I LLC acquired a new position in Gray Television during the 1st quarter worth about $129,000. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have weighed in on GTN shares. Noble Financial restated a “buy” rating and set a $22.00 price target on shares of Gray Television in a report on Friday, May 8th. ValuEngine downgraded Gray Television from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. Barrington Research restated a “buy” rating and set a $20.00 price target on shares of Gray Television in a report on Thursday, May 28th. Finally, Zacks Investment Research upgraded Gray Television from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Wednesday, June 24th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $21.20.

GTN opened at $13.76 on Tuesday. Gray Television, Inc. has a one year low of $8.53 and a one year high of $23.07. The company has a market cap of $1.28 billion, a P/E ratio of 6.95, a PEG ratio of 0.54 and a beta of 2.07. The company has a debt-to-equity ratio of 2.50, a quick ratio of 2.97 and a current ratio of 2.97. The business’s 50-day simple moving average is $14.13 and its 200-day simple moving average is $16.19.

Gray Television (NYSE:GTN) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.17. Gray Television had a return on equity of 16.54% and a net margin of 11.09%. The business had revenue of $534.00 million for the quarter, compared to the consensus estimate of $543.75 million. During the same quarter in the prior year, the business posted ($0.31) EPS. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, analysts predict that Gray Television, Inc. will post 2.4 earnings per share for the current fiscal year.

Gray Television Company Profile

Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 28, 2019, it owned and operated television stations in 91 television markets broadcasting approximately 400 program streams, including approximately 150 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.

Featured Article: How are dividend achievers different from dividend aristocrats?

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

Receive News & Ratings for Gray Television Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gray Television and related companies with MarketBeat.com's FREE daily email newsletter.