AXQ Capital LP Takes $72,000 Position in Gray Television, Inc. (NYSE:GTN)

AXQ Capital LP bought a new position in shares of Gray Television, Inc. (NYSE:GTN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 22,743 shares of the company’s stock, valued at approximately $72,000.

A number of other large investors have also recently bought and sold shares of the company. State Street Corp raised its position in Gray Television by 1.9% during the 3rd quarter. State Street Corp now owns 2,009,896 shares of the company’s stock worth $10,773,000 after buying an additional 36,541 shares during the last quarter. Barclays PLC raised its holdings in shares of Gray Television by 114.4% during the third quarter. Barclays PLC now owns 272,272 shares of the company’s stock worth $1,460,000 after purchasing an additional 145,263 shares during the last quarter. Kingsview Wealth Management LLC acquired a new position in Gray Television during the fourth quarter valued at $340,000. Capital Management Corp VA boosted its holdings in Gray Television by 6.6% in the fourth quarter. Capital Management Corp VA now owns 5,763,336 shares of the company’s stock valued at $18,155,000 after purchasing an additional 355,067 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in Gray Television by 109.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 127,497 shares of the company’s stock worth $683,000 after purchasing an additional 66,578 shares during the period. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Insider Buying and Selling at Gray Television

In related news, Director Richard Lee Boger sold 16,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $3.85, for a total transaction of $61,600.00. Following the completion of the transaction, the director now owns 55,347 shares in the company, valued at $213,085.95. This represents a 22.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.80% of the company’s stock.

Gray Television Price Performance

NYSE:GTN opened at $4.80 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.76. Gray Television, Inc. has a 52 week low of $2.91 and a 52 week high of $7.41. The stock’s 50-day moving average price is $3.93 and its 200-day moving average price is $4.35. The stock has a market capitalization of $486.90 million, a PE ratio of 3.20 and a beta of 1.45.

Gray Television (NYSE:GTN) last issued its quarterly earnings data on Thursday, February 27th. The company reported $1.59 EPS for the quarter, meeting the consensus estimate of $1.59. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. As a group, equities analysts expect that Gray Television, Inc. will post 3.32 EPS for the current fiscal year.

Gray Television Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date is Friday, March 14th. Gray Television’s dividend payout ratio is presently 9.61%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GTN shares. Wells Fargo & Company upgraded Gray Television from an “underweight” rating to an “equal weight” rating and set a $4.00 target price on the stock in a research note on Monday, March 3rd. Guggenheim lowered their price objective on Gray Television from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.33.

Gray Television Company 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.