Hillcrest Asset Management LLC increased its holdings in shares of Gray Television, Inc. (NYSE:GTN) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 582,678 shares of the company’s stock after purchasing an additional 26,778 shares during the period. Hillcrest Asset Management LLC’s holdings in Gray Television were worth $8,391,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. Engine Capital Management LLC bought a new position in shares of Gray Television during the 4th quarter valued at about $1,173,000. TIAA CREF Investment Management LLC lifted its holdings in shares of Gray Television by 32.6% during the 4th quarter. TIAA CREF Investment Management LLC now owns 492,019 shares of the company’s stock valued at $8,241,000 after purchasing an additional 120,842 shares in the last quarter. Two Sigma Investments LP bought a new position in shares of Gray Television during the 4th quarter valued at about $1,329,000. Guggenheim Capital LLC bought a new position in shares of Gray Television during the 4th quarter valued at about $167,000. Finally, QS Investors LLC bought a new position in shares of Gray Television during the 4th quarter valued at about $1,634,000. Institutional investors and hedge funds own 85.97% of the company’s stock.
Several equities analysts have recently weighed in on GTN shares. Guggenheim reiterated a “buy” rating and set a $20.00 price objective on shares of Gray Television in a report on Thursday, March 1st. Barrington Research reiterated a “buy” rating and set a $22.00 price objective on shares of Gray Television in a report on Tuesday, February 27th. Benchmark reiterated a “buy” rating and set a $21.00 price objective on shares of Gray Television in a report on Thursday, February 15th. Jefferies Group started coverage on Gray Television in a report on Thursday, December 14th. They set a “buy” rating and a $18.00 price objective on the stock. Finally, ValuEngine cut Gray Television from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $19.00.
Gray Television (NYSE:GTN) last released its earnings results on Tuesday, February 27th. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.15. The firm had revenue of $233.60 million for the quarter, compared to analysts’ expectations of $232.24 million. Gray Television had a return on equity of 11.91% and a net margin of 29.67%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 EPS. equities research analysts expect that Gray Television, Inc. will post 1.81 earnings per share for the current fiscal year.
In other Gray Television news, EVP Kevin Paul Latek sold 97,634 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $16.96, for a total value of $1,655,872.64. Following the sale, the executive vice president now owns 219,706 shares in the company, valued at approximately $3,726,213.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.00% of the company’s stock.
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Gray Television Profile
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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