WINTON GROUP Ltd Cuts Stake in Gray Television, Inc. (NYSE:GTN)

WINTON GROUP Ltd lowered its position in shares of Gray Television, Inc. (NYSE:GTNGet Rating) by 20.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 24,363 shares of the company’s stock after selling 6,148 shares during the period. WINTON GROUP Ltd’s holdings in Gray Television were worth $411,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Gray Television by 2.1% during the first quarter. Vanguard Group Inc. now owns 4,646,405 shares of the company’s stock valued at $102,546,000 after buying an additional 97,570 shares during the period. Clearbridge Investments LLC increased its stake in shares of Gray Television by 2.6% during the first quarter. Clearbridge Investments LLC now owns 3,328,715 shares of the company’s stock valued at $73,465,000 after buying an additional 84,614 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Gray Television by 30.0% during the first quarter. Goldman Sachs Group Inc. now owns 2,311,553 shares of the company’s stock valued at $51,016,000 after buying an additional 533,361 shares during the period. State Street Corp increased its stake in shares of Gray Television by 1.9% during the first quarter. State Street Corp now owns 1,964,046 shares of the company’s stock valued at $43,346,000 after buying an additional 36,463 shares during the period. Finally, Boston Partners increased its stake in shares of Gray Television by 33.9% during the first quarter. Boston Partners now owns 1,682,586 shares of the company’s stock valued at $36,975,000 after buying an additional 426,393 shares during the period. Hedge funds and other institutional investors own 80.61% of the company’s stock.

Gray Television Price Performance

Shares of NYSE GTN opened at $11.01 on Friday. The company has a debt-to-equity ratio of 3.41, a quick ratio of 2.09 and a current ratio of 2.09. The company has a market cap of $1.02 billion, a PE ratio of 4.19, a P/E/G ratio of 0.23 and a beta of 1.65. The business has a 50-day simple moving average of $14.53 and a two-hundred day simple moving average of $17.29. Gray Television, Inc. has a fifty-two week low of $8.61 and a fifty-two week high of $24.81.

Gray Television Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.91%. The ex-dividend date is Wednesday, December 14th. Gray Television’s dividend payout ratio is presently 12.17%.

Insiders Place Their Bets

In other Gray Television news, Director D Patrick Laplatney purchased 10,000 shares of the stock in a transaction on Thursday, November 10th. The stock was acquired at an average price of $9.99 per share, with a total value of $99,900.00. Following the completion of the acquisition, the director now owns 462,639 shares in the company, valued at $4,621,763.61. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, Director D Patrick Laplatney bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The stock was purchased at an average price of $9.99 per share, with a total value of $99,900.00. Following the completion of the acquisition, the director now directly owns 462,639 shares of the company’s stock, valued at approximately $4,621,763.61. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard Lee Boger bought 3,200 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The shares were purchased at an average cost of $11.35 per share, with a total value of $36,320.00. Following the acquisition, the director now directly owns 44,738 shares of the company’s stock, valued at $507,776.30. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 17,200 shares of company stock valued at $172,620. 4.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Guggenheim dropped their price objective on Gray Television to $19.00 in a research report on Tuesday, November 15th. Barrington Research dropped their price objective on Gray Television from $25.00 to $15.00 in a research report on Thursday, November 10th. Stephens dropped their price objective on Gray Television from $18.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Monday, November 7th. Wells Fargo & Company downgraded Gray Television from an “overweight” rating to an “underweight” rating and dropped their price objective for the company from $25.00 to $7.00 in a research report on Wednesday, November 9th. Finally, StockNews.com raised Gray Television from a “sell” rating to a “hold” rating in a research report on Monday, November 7th.

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 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, Justice, This TV Network, Antenna TV, Telemundo, Cozi, Heroes and Icons, and MOVIES! Network; and local news/weather channels in various markets.

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Institutional Ownership by Quarter for Gray Television (NYSE:GTN)

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