UBS Group AG Decreases Stock Holdings in Gray Television, Inc. (NYSE:GTN)

UBS Group AG lowered its stake in shares of Gray Television, Inc. (NYSE:GTN) by 1.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,748,524 shares of the company’s stock after selling 41,994 shares during the quarter. UBS Group AG’s holdings in Gray Television were worth $68,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC increased its position in shares of Gray Television by 73.1% during the fourth quarter. Lazard Asset Management LLC now owns 3,321 shares of the company’s stock valued at $59,000 after buying an additional 1,403 shares during the period. Rockefeller Capital Management L.P. purchased a new position in shares of Gray Television during the first quarter valued at about $64,000. Principal Financial Group Inc. purchased a new position in shares of Gray Television during the fourth quarter valued at about $191,000. Bailard Inc. increased its position in shares of Gray Television by 16.6% during the fourth quarter. Bailard Inc. now owns 11,961 shares of the company’s stock valued at $214,000 after buying an additional 1,700 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in shares of Gray Television during the first quarter valued at about $236,000. Institutional investors own 79.26% of the company’s stock.

NYSE:GTN opened at $22.82 on Friday. The business’s 50-day simple moving average is $21.37. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 6.32, a P/E/G ratio of 1.45 and a beta of 2.05. Gray Television, Inc. has a one year low of $11.95 and a one year high of $23.94. The company has a debt-to-equity ratio of 2.24, a current ratio of 5.21 and a quick ratio of 5.21.

Gray Television (NYSE:GTN) last issued its earnings results on Sunday, May 2nd. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.09. The firm had revenue of $544.00 million for the quarter, compared to the consensus estimate of $532.96 million. Gray Television had a net margin of 16.56% and a return on equity of 24.19%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 earnings per share. As a group, analysts anticipate that Gray Television, Inc. will post 1.63 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, June 14th. This represents a $0.32 annualized dividend and a dividend yield of 1.40%. Gray Television’s dividend payout ratio is presently 8.67%.

In other news, CEO Hilton H. Howell, Jr. sold 49,700 shares of the business’s stock in a transaction that occurred on Friday, May 14th. The shares were sold at an average price of $21.09, for a total transaction of $1,048,173.00. Following the completion of the transaction, the chief executive officer now directly owns 1,287,351 shares of the company’s stock, valued at $27,150,232.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin Paul Latek sold 27,670 shares of the business’s stock in a transaction that occurred on Friday, April 16th. The shares were sold at an average price of $20.02, for a total transaction of $553,953.40. Following the transaction, the executive vice president now directly owns 214,001 shares of the company’s stock, valued at $4,284,300.02. The disclosure for this sale can be found here. Corporate insiders own 4.50% of the company’s stock.

GTN has been the topic of several research analyst reports. Barrington Research boosted their price target on shares of Gray Television from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, May 10th. Zacks Investment Research lowered shares of Gray Television from a “buy” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Gray Television currently has an average rating of “Buy” and an average target price of $25.00.

About Gray Television

Gray Television, Inc, a television broadcast company, owns and/or operates television stations and digital assets in the United States. The company also broadcasts secondary digital channels affiliated to ABC, CBS, and FOX, as well as channels affiliated with various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Justice, Circle, This TV Network, Antenna TV, Telemundo, Cozi, Heroes and Icons, and MOVIES! Network; and local news/weather channels in various markets.

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

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