Gray Television, Inc. (NYSE:GTN – Get Rating) Director D Patrick Laplatney purchased 10,000 shares of Gray Television in a transaction on Thursday, November 10. The shares were acquired at an average price of $9.99 per share, for a total transaction of $99,900.00. Following the completion of the acquisition, the director now owns 462,639 shares of the company, valued at approximately $4,621,763.61. The acquisition was disclosed in a legal filing with the SEC, accessible via this link.
Gray TV price performance
Shares of NYSE:GTN traded at $0.34 during Monday’s trading, hitting $10.79. 80,796 shares of the company were traded, against an average volume of 764,416. The company has a market capitalization of $1.00 billion, a PE ratio of 3.97, a PEG ratio of 0.19 and a beta of 1.65. The company has a quick ratio of 2.54, a current ratio of 2.09 and a debt ratio of 3.41. Gray Television, Inc. has a 52-week low of $8.61 and a 52-week high of $24.81. The company’s 50-day moving average is $15.29 and its two-hundred-day moving average is $17.55.
Gray Television Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, December 30. Shareholders of record on Thursday, December 15 will receive a dividend of $0.08 per share. The ex-date of this dividend is Wednesday, December 14. This represents an annualized dividend of $0.32 and a dividend yield of 2.97%. Gray Television’s dividend payout ratio (DPR) is currently 12.17%.
Analysts set new price targets
GTN has been the subject of several recent analyst reports. Barrington Research cut its price target on Gray Television from $25.00 to $15.00 in a report released Thursday. Wells Fargo & Company downgraded shares of Gray Television from an “overweight” rating to an “underweight” rating and lowered its price target for the stock from $25.00 to $7.00 in a report research on Wednesday, November 9. Stephens cut his price target on Gray Television shares from $18.00 to $12.00 and set an “equal weight” rating on the stock in a Monday, Nov. 7 research report. Finally, StockNews.com upgraded Gray Television from a “sell” rating to a “hold” rating in a Monday, Nov. 7 research report.
Institutional entries and exits
Major investors have recently increased or reduced their stakes in the company. Nisa Investment Advisors LLC acquired a new stake in shares of Gray Television in Q1 worth approximately $26,000. Captrust Financial Advisors increased its equity stake in Gray Television by 219.5% in Q2. Captrust Financial Advisors now owns 1,556 shares of the company worth $26,000 after acquiring 1,069 additional shares in the last quarter. Prospera Financial Services Inc bought a new position in Gray Television in Q1 worth approximately $44,000. First Horizon Advisors Inc. acquired a new position in Gray Television during Q2 worth approximately $39,000. Finally, UMB Bank na increased its stake in Gray Television by 35.9% during the 2nd quarter. UMB Bank na now owns 2,378 shares of the company worth $40,000 after buying an additional 628 shares in the last quarter. Institutional investors hold 80.61% of the company’s shares.
About Gray Television
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Gray Television, Inc, a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It also carries secondary digital channels affiliated with ABC, CBS, NBC and FOX, as well as various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Justice, This TV Network, Antenna TV, Telemundo, Cozi, Heroes and Icons, and FILMS! Network; and local news/weather channels in various markets.
Further reading
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