DHK Financial Advisors Inc. Invests $126,000 in Gray Television, Inc. (NYSE:GTN)

DHK Financial Advisors Inc. purchased a new stake in Gray Television, Inc. (NYSE:GTN) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 29,126 shares of the company’s stock, valued at approximately $126,000.

Other hedge funds have also modified their holdings of the company. Voleon Capital Management LP acquired a new position in Gray Television during the fourth quarter valued at approximately $32,000. Ameriprise Financial Inc. acquired a new position in shares of Gray Television in the 4th quarter valued at $33,000. Boothbay Fund Management LLC acquired a new position in shares of Gray Television in the 4th quarter valued at $34,000. Federated Hermes Inc. increased its position in shares of Gray Television by 214,100.0% in the 4th quarter. Federated Hermes Inc. now owns 12,852 shares of the company’s stock valued at $40,000 after buying an additional 12,846 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Gray Television during the 4th quarter worth $43,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GTN shares. Wells Fargo & Company boosted their target price on Gray Television from $4.00 to $4.50 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Guggenheim decreased their price objective on Gray Television from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Wall Street Zen cut Gray Television from a “hold” rating to a “sell” rating in a research note on Monday, May 12th. Finally, Benchmark cut their price target on shares of Gray Television from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Gray Television presently has an average rating of “Hold” and a consensus price target of $6.17.

Gray Television Stock Performance

GTN opened at $3.80 on Friday. The company has a market capitalization of $385.56 million, a price-to-earnings ratio of 2.53 and a beta of 1.15. The business’s 50-day moving average price is $3.74 and its two-hundred day moving average price is $3.83. Gray Television, Inc. has a 1 year low of $2.91 and a 1 year high of $6.61. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.13.

Gray Television (NYSE:GTN) last announced its earnings results on Thursday, May 8th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. The business had revenue of $782.00 million for the quarter, compared to analyst estimates of $772.71 million. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. Gray Television’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 EPS. Equities analysts expect that Gray Television, Inc. will post 3.32 EPS for the current fiscal year.

Gray Television Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 8.43%. The ex-dividend date is Friday, June 13th. Gray Television’s dividend payout ratio is presently 13.85%.

Gray Television Profile

Gray Television, Inc, a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It also broadcasts secondary digital channels affiliated to ABC, CBS, NBC, and FOX, as well as various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Circle, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.