Gray Television, Inc. (NYSE:GTN) Chairman Hilton H. Howell, Jr. Acquires 1,800 Shares

Gray Television, Inc. (NYSE:GTN) Chairman Hilton H. Howell, Jr. purchased 1,800 shares of Gray Television stock in a transaction on Friday, August 9th. The shares were purchased at an average cost of $14.76 per share, with a total value of $26,568.00. Following the transaction, the chairman now owns 992,224 shares in the company, valued at $14,645,226.24. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Shares of NYSE GTN traded up $0.43 during trading hours on Monday, hitting $15.00. The company had a trading volume of 1,055,100 shares, compared to its average volume of 987,208. The stock has a market capitalization of $1.51 billion, a PE ratio of 6.15, a P/E/G ratio of 1.68 and a beta of 1.98. The company has a debt-to-equity ratio of 2.89, a current ratio of 2.93 and a quick ratio of 2.51. Gray Television, Inc. has a 1-year low of $13.60 and a 1-year high of $25.31. The firm’s 50 day moving average price is $17.09.

Gray Television (NYSE:GTN) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.28 by $0.03. The company had revenue of $508.00 million during the quarter, compared to the consensus estimate of $508.79 million. Gray Television had a return on equity of 19.25% and a net margin of 10.78%. The firm’s revenue for the quarter was up 103.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 EPS. Equities research analysts expect that Gray Television, Inc. will post 0.91 EPS for the current year.

Several equities research analysts have recently commented on GTN shares. ValuEngine downgraded Gray Television from a “sell” rating to a “strong sell” rating in a report on Saturday. Zacks Investment Research downgraded Gray Television from a “buy” rating to a “hold” rating in a report on Friday. TheStreet downgraded Gray Television from a “b-” rating to a “c+” rating in a report on Tuesday, June 4th. Benchmark reissued a “buy” rating on shares of Gray Television in a report on Thursday, May 9th. Finally, Barrington Research reissued a “buy” rating on shares of Gray Television in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $24.80.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Penserra Capital Management LLC bought a new stake in Gray Television in the 1st quarter valued at $35,000. New York State Teachers Retirement System bought a new position in Gray Television during the 2nd quarter worth $115,000. Bank of Montreal Can increased its position in Gray Television by 3,422.7% during the 2nd quarter. Bank of Montreal Can now owns 7,926 shares of the company’s stock worth $130,000 after buying an additional 7,701 shares during the period. Welch Group LLC bought a new position in Gray Television during the 1st quarter worth $214,000. Finally, SG Americas Securities LLC bought a new position in Gray Television during the 1st quarter worth $220,000. Institutional investors and hedge funds own 85.13% of the company’s stock.

About Gray Television

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.

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