IndexIQ Advisors LLC lifted its holdings in Gray Television, Inc. (NYSE:GTN) by 83.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,774 shares of the company’s stock after acquiring an additional 27,140 shares during the quarter. IndexIQ Advisors LLC owned 0.08% of Gray Television worth $938,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its stake in shares of Gray Television by 4,901.3% in the second quarter. BNP Paribas Arbitrage SA now owns 7,452 shares of the company’s stock worth $102,000 after acquiring an additional 7,303 shares during the period. LSV Asset Management acquired a new stake in Gray Television during the second quarter valued at $153,000. Pacad Investment Ltd. grew its position in Gray Television by 24.3% during the second quarter. Pacad Investment Ltd. now owns 13,800 shares of the company’s stock valued at $189,000 after buying an additional 2,700 shares during the period. Eqis Capital Management Inc. acquired a new stake in Gray Television during the third quarter valued at $201,000. Finally, Legal & General Group Plc grew its position in Gray Television by 3.2% during the second quarter. Legal & General Group Plc now owns 16,502 shares of the company’s stock valued at $226,000 after buying an additional 505 shares during the period. Hedge funds and other institutional investors own 81.48% of the company’s stock.
Gray Television, Inc. (GTN) opened at $15.40 on Friday. The company has a debt-to-equity ratio of 3.11, a current ratio of 3.28 and a quick ratio of 3.32. The firm has a market cap of $1,114.43, a PE ratio of 13.47, a PEG ratio of 1.45 and a beta of 3.22. Gray Television, Inc. has a 52 week low of $8.45 and a 52 week high of $16.70.
Gray Television (NYSE:GTN) last posted its quarterly earnings results on Monday, November 6th. The company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.01). The business had revenue of $219.00 million during the quarter, compared to analysts’ expectations of $218.78 million. Gray Television had a return on equity of 15.53% and a net margin of 14.91%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 earnings per share. research analysts anticipate that Gray Television, Inc. will post 1.63 EPS for the current year.
Several analysts recently commented on GTN shares. Zacks Investment Research lowered shares of Gray Television from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Guggenheim started coverage on shares of Gray Television in a research report on Wednesday, October 18th. They set a “buy” rating and a $20.00 price target on the stock. ValuEngine upgraded shares of Gray Television from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Benchmark Co. restated a “buy” rating and set a $21.00 price target on shares of Gray Television in a research report on Tuesday. Finally, Royal Bank Of Canada restated a “buy” rating and set a $17.00 price target on shares of Gray Television in a research report on Wednesday, September 27th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $18.50.
Gray Television 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).