Tudor Investment Corp Et Al Invests $282,000 in Gray Television, Inc. (NYSE:GTN)

Tudor Investment Corp Et Al purchased a new stake in shares of Gray Television, Inc. (NYSE:GTN – Get Rating) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 19,694 shares of the company’s stock, valued at approximately $282,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Captrust Financial Advisors lifted its position 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 worth $26,000 after buying an additional 1,069 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Gray Television by 188.0% during the second quarter. Nisa Investment Advisors LLC now owns 3,370 shares of the company’s stock worth $57,000 after acquiring an additional 2,200 shares during the period. Point72 Hong Kong Ltd purchased a new position in Gray Television in the first quarter worth $73,000. Watershed Asset Management L.L.C. bought a new position in Gray Television in the 3rd quarter valued at $77,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Gray Television during the 3rd quarter valued at $77,000. 81.33% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder Harriett J. Robinson acquired 68,750 shares of the stock in a transaction on Monday, December 19th. The stock was purchased at an average price of $17.82 per share, for a total transaction of $1,225,125.00. Following the completion of the transaction, the insider now owns 1,042,217 shares of the company’s stock, valued at approximately $18,572,306.94. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 4.80% of the company’s stock.

Gray Television Stock Performance

Shares of GTN opened at $9.87 on Friday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 3.04. The stock has a 50-day moving average price of $11.94 and a 200-day moving average price of $13.43. The company has a market cap of $916.23 million, a PE ratio of 2.27, a price-to-earnings-growth ratio of 71.47 and a beta of 1.61. Gray Television, Inc. has a 12-month low of $8.61 and a 12-month high of $23.80.

Gray Television (NYSE:GTN – Get Rating) last released its quarterly earnings results on Friday, February 24th. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.15. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Gray Television had a net margin of 12.38% and a return on equity of 23.67%. The business’s quarterly revenue was up 48.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 EPS. As a group, equities analysts forecast that Gray Television, Inc. will post 0.02 earnings per share for the current fiscal year.

Gray Television Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 3.24%. Gray Television’s payout ratio is 7.37%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GTN shares. StockNews.com raised shares of Gray Television from a “sell” rating to a “hold” rating in a report on Friday, February 24th. TheStreet downgraded shares of Gray Television from a “b-” rating to a “c” rating in a research report on Thursday, December 8th. Benchmark raised their price target on shares of Gray Television from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, February 27th. Barrington Research dropped their price objective on Gray Television from $25.00 to $15.00 in a research note on Thursday, November 10th. Finally, Guggenheim decreased their target price on Gray Television from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, February 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Gray Television currently has an average rating of “Hold” and a consensus target price of $14.20.

Gray Television Profile

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Gray Television, Inc is a television broadcasting company, which engages in owning and operating television stations and digital assets in markets throughout the United States. It operates through the following segments: Broadcasting, and Production Companies. The Broadcasting segment operates television stations located across local markets in the United States.