AXQ Capital LP Acquires Shares of 22,743 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 institutional investor bought 22,743 shares of the company’s stock, valued at approximately $72,000.

Other large investors have also modified their holdings of the company. Intech Investment Management LLC purchased a new stake in Gray Television during the 3rd quarter valued at about $143,000. BNP Paribas Financial Markets grew its position in shares of Gray Television by 109.3% in the third quarter. BNP Paribas Financial Markets now owns 127,497 shares of the company’s stock valued at $683,000 after purchasing an additional 66,578 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Gray Television by 1.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,371 shares of the company’s stock valued at $1,283,000 after purchasing an additional 2,654 shares during the last quarter. Capstone Investment Advisors LLC purchased a new position in Gray Television during the third quarter worth approximately $185,000. Finally, Verition Fund Management LLC boosted its stake in Gray Television by 64.0% during the third quarter. Verition Fund Management LLC now owns 17,480 shares of the company’s stock worth $94,000 after buying an additional 6,824 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Insider Buying and Selling at Gray Television

In other news, Director Richard Lee Boger sold 16,000 shares of Gray Television stock in a transaction on Friday, February 28th. The stock was sold at an average price of $3.85, for a total value of $61,600.00. Following the completion of the sale, the director now directly owns 55,347 shares of the company’s stock, valued at approximately $213,085.95. The trade was a 22.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Gray Television Stock Performance

Shares of Gray Television stock opened at $4.80 on Tuesday. The firm has a market cap of $486.90 million, a PE ratio of 3.20 and a beta of 1.45. 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 business’s fifty day simple moving average is $3.93 and its 200-day simple moving average is $4.35.

Gray Television (NYSE:GTN) last posted its earnings results on Thursday, February 27th. The company reported $1.59 EPS for the quarter, meeting analysts’ consensus estimates of $1.59. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. Equities analysts forecast that Gray Television, Inc. will post 3.32 earnings per share for the current year.

Gray Television Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.08 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.32 annualized dividend and a yield of 6.67%. Gray Television’s dividend payout ratio (DPR) is presently 9.61%.

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.