Hussman Strategic Advisors Inc. Sells 81,000 Shares of Gray Television, Inc. (NYSE:GTN)

Hussman Strategic Advisors Inc. trimmed its position in shares of Gray Television, Inc. (NYSE:GTN) by 43.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 105,000 shares of the company’s stock after selling 81,000 shares during the quarter. Hussman Strategic Advisors Inc. owned approximately 0.11% of Gray Television worth $941,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GTN. CWM LLC raised its holdings in Gray Television by 61.5% in the 4th quarter. CWM LLC now owns 3,017 shares of the company’s stock valued at $27,000 after buying an additional 1,149 shares during the last quarter. Capital Management Corp VA raised its stake in shares of Gray Television by 27.2% during the fourth quarter. Capital Management Corp VA now owns 3,094,883 shares of the company’s stock valued at $27,730,000 after acquiring an additional 661,760 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Gray Television by 66.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,768 shares of the company’s stock worth $240,000 after purchasing an additional 10,687 shares during the period. Mackenzie Financial Corp grew its position in shares of Gray Television by 111.3% in the 4th quarter. Mackenzie Financial Corp now owns 36,127 shares of the company’s stock valued at $324,000 after buying an additional 19,026 shares during the last quarter. Finally, Trust Point Inc. acquired a new stake in Gray Television during the 4th quarter valued at approximately $325,000. 78.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Gray Television

In related news, CEO Hilton H. Howell, Jr. bought 10,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were bought at an average price of $8.09 per share, for a total transaction of $80,900.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,982,386 shares of the company’s stock, valued at $24,127,502.74. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 13.83% of the company’s stock.

Gray Television Trading Up 2.2 %

NYSE GTN opened at $5.92 on Monday. Gray Television, Inc. has a 52 week low of $5.44 and a 52 week high of $10.69. The business has a 50 day moving average price of $6.28 and a 200-day moving average price of $7.42. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.18 and a current ratio of 1.18.

Gray Television (NYSE:GTN) last announced its quarterly earnings results on Friday, February 23rd. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.08). Gray Television had a negative net margin of 2.32% and a negative return on equity of 3.76%. The business had revenue of $864.00 million for the quarter, compared to the consensus estimate of $863.31 million. During the same quarter last year, the firm posted $1.88 EPS. The business’s revenue for the quarter was down 19.4% compared to the same quarter last year. On average, analysts predict that Gray Television, Inc. will post 3.78 earnings per share for the current year.

Gray Television Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 5.41%. Gray Television’s payout ratio is -23.02%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GTN shares. Wells Fargo & Company lifted their price objective on Gray Television from $6.00 to $7.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. Barrington Research restated a “market perform” rating on shares of Gray Television in a report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.80.

About Gray Television

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.