Principal Financial Group Inc. Acquires 14,951 Shares of Gray Television, Inc. (NYSE:GTN)

Principal Financial Group Inc. boosted its position in Gray Television, Inc. (NYSE:GTNFree Report) by 49.4% in the third quarter, HoldingsChannel.com reports. The firm owned 45,194 shares of the company’s stock after acquiring an additional 14,951 shares during the period. Principal Financial Group Inc.’s holdings in Gray Television were worth $313,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors boosted its position in shares of Gray Television by 219.5% in the 2nd quarter. Captrust Financial Advisors now owns 1,556 shares of the company’s stock worth $26,000 after purchasing an additional 1,069 shares in the last quarter. Quarry LP grew its stake in shares of Gray Television by 460.6% during the first quarter. Quarry LP now owns 5,432 shares of the company’s stock worth $47,000 after acquiring an additional 4,463 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Gray Television in the 2nd quarter valued at approximately $73,000. Sonora Investment Management Group LLC purchased a new position in shares of Gray Television in the 3rd quarter valued at approximately $73,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Gray Television in the 1st quarter worth approximately $73,000. Hedge funds and other institutional investors own 77.01% of the company’s stock.

Gray Television Stock Up 6.3 %

NYSE GTN opened at $8.54 on Tuesday. The business has a fifty day moving average price of $8.87 and a 200 day moving average price of $8.00. The company has a debt-to-equity ratio of 3.08, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market cap of $814.75 million, a P/E ratio of 11.69, a P/E/G ratio of 0.20 and a beta of 1.70. Gray Television, Inc. has a one year low of $5.97 and a one year high of $13.73.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GTN. StockNews.com raised shares of Gray Television to a “sell” rating in a report on Thursday, December 14th. Wells Fargo & Company increased their price objective on Gray Television from $6.00 to $7.00 and gave the company an “underweight” rating in a report on Friday. Finally, TheStreet cut Gray Television from a “c” rating to a “d+” rating in a research note on Friday, November 10th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.80.

Get Our Latest Stock Analysis on Gray Television

About Gray Television

(Free Report)

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, Antenna TV, Telemundo, and Cozi; 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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