Gray Television, Inc. (NYSE:GTN) was the target of unusually large options trading on Wednesday. Investors bought 2,092 put options on the company. This is an increase of 1,075% compared to the typical volume of 178 put options.
Gray Television (NYSE GTN) opened at $13.80 on Thursday. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 3.11. The stock has a market capitalization of $1,325.30, a P/E ratio of 4.00, a P/E/G ratio of 1.93 and a beta of 2.46. Gray Television has a fifty-two week low of $11.70 and a fifty-two week high of $17.80.
Gray Television (NYSE:GTN) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.15. The firm had revenue of $233.60 million during the quarter, compared to the consensus estimate of $232.24 million. Gray Television had a return on equity of 14.26% and a net margin of 29.67%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 earnings per share. equities analysts anticipate that Gray Television will post 1.66 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC boosted its holdings in Gray Television by 1.3% in the second quarter. Parametric Portfolio Associates LLC now owns 31,340 shares of the company’s stock valued at $429,000 after purchasing an additional 399 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Gray Television by 9.5% in the second quarter. Voya Investment Management LLC now owns 32,706 shares of the company’s stock valued at $448,000 after purchasing an additional 2,844 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Gray Television by 2.2% in the third quarter. California Public Employees Retirement System now owns 153,139 shares of the company’s stock valued at $2,404,000 after purchasing an additional 3,339 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Gray Television by 39.3% in the fourth quarter. SG Americas Securities LLC now owns 14,492 shares of the company’s stock valued at $243,000 after purchasing an additional 4,086 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Gray Television by 5.9% in the third quarter. Allianz Asset Management GmbH now owns 79,740 shares of the company’s stock valued at $1,252,000 after purchasing an additional 4,431 shares in the last quarter. 74.42% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on GTN. Guggenheim set a $21.00 price objective on Gray Television and gave the stock a “buy” rating in a research report on Monday, January 22nd. Zacks Investment Research downgraded Gray Television from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 30th. ValuEngine downgraded Gray Television from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Benchmark reissued a “buy” rating and set a $21.00 price objective on shares of Gray Television in a research report on Thursday, February 15th. Finally, Barrington Research reissued a “buy” rating and set a $22.00 price objective on shares of Gray Television in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Gray Television currently has a consensus rating of “Buy” and an average price target of $19.00.
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About Gray Television
Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in various markets across the United States. As of February 21, 2017, the Company owned and/or operated television stations in 54 television markets broadcasting over 200 separate programming streams, including 37 affiliates of the CBS Network (CBS), 29 affiliates of the NBC Network (NBC), 20 affiliates of the ABC Network (ABC) and 15 affiliates of the FOX Network (FOX).
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