SG Americas Securities LLC Invests $109,000 in Gray Television, Inc. (NYSE:GTN)

SG Americas Securities LLC acquired a new stake in shares of Gray Television, Inc. (NYSE:GTN) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,202 shares of the company’s stock, valued at approximately $109,000.

Several other large investors have also recently added to or reduced their stakes in GTN. Captrust Financial Advisors grew its holdings in shares of Gray Television by 219.5% during the 2nd quarter. Captrust Financial Advisors now owns 1,556 shares of the company’s stock valued at $26,000 after acquiring an additional 1,069 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Gray Television in the third quarter valued at about $41,000. Quarry LP increased its position in Gray Television by 460.6% in the 1st quarter. Quarry LP now owns 5,432 shares of the company’s stock worth $47,000 after purchasing an additional 4,463 shares during the last quarter. Comerica Bank purchased a new stake in shares of Gray Television during the 3rd quarter worth about $68,000. Finally, Mariner LLC acquired a new stake in shares of Gray Television during the 3rd quarter valued at about $70,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Insider Activity at Gray Television

In other Gray Television news, CEO Hilton H. Howell, Jr. purchased 10,000 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were bought at an average cost of $8.09 per share, with a total value of $80,900.00. Following the transaction, the chief executive officer now directly owns 2,982,386 shares in the company, valued at approximately $24,127,502.74. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.80% of the stock is owned by corporate insiders.

Gray Television Stock Up 2.2 %

Shares of Gray Television stock opened at $5.92 on Friday. Gray Television, Inc. has a 12-month low of $5.44 and a 12-month high of $10.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 3.12. The stock has a 50 day moving average price of $6.28 and a two-hundred day moving average price of $7.40. The stock has a market capitalization of $575.42 million, a P/E ratio of -4.26, a PEG ratio of 0.15 and a beta of 1.57.

Gray Television (NYSE:GTN) last posted its quarterly earnings data on Friday, February 23rd. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.08). The firm had revenue of $864.00 million for the quarter, compared to the consensus estimate of $863.31 million. Gray Television had a negative return on equity of 3.76% and a negative net margin of 2.32%. Gray Television’s quarterly revenue was down 19.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.88 earnings per share. Equities analysts expect that Gray Television, Inc. will post 3.78 earnings per share for the current year.

Gray Television Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.41%. Gray Television’s payout ratio is presently -23.02%.

Wall Street Analyst Weigh In

GTN has been the topic of several recent research reports. Wells Fargo & Company raised their price objective on shares of Gray Television from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Barrington Research restated a “market perform” rating on shares of Gray Television in a report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Gray Television has a consensus rating of “Hold” and an average price target of $12.80.

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.