Gray Television, Inc. (NYSE:GTN) EVP Kevin Paul Latek Sells 150,216 Shares

Gray Television, Inc. (NYSE:GTN) EVP Kevin Paul Latek sold 150,216 shares of Gray Television stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $4.37, for a total transaction of $656,443.92. Following the transaction, the executive vice president now directly owns 509,212 shares of the company’s stock, valued at $2,225,256.44. The trade was a 22.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Gray Television Stock Down 0.8 %

NYSE GTN traded down $0.04 during midday trading on Tuesday, hitting $4.34. 1,311,450 shares of the company traded hands, compared to its average volume of 1,275,569. The company has a market cap of $432.07 million, a PE ratio of 2.89, a price-to-earnings-growth ratio of 0.15 and a beta of 1.36. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.13. Gray Television, Inc. has a 52 week low of $3.95 and a 52 week high of $10.07. The company’s 50-day simple moving average is $5.15 and its 200-day simple moving average is $5.22.

Gray Television (NYSE:GTN) last announced its earnings results on Friday, November 8th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.08). The business had revenue of $950.00 million for the quarter, compared to analysts’ expectations of $967.49 million. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.57) earnings per share. As a group, equities research analysts forecast that Gray Television, Inc. will post 2.88 earnings per share for the current year.

Gray Television Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 7.38%. The ex-dividend date of this dividend is Friday, December 13th. Gray Television’s payout ratio is 21.33%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GTN shares. Barrington Research upgraded Gray Television to a “hold” rating in a research report on Thursday, November 14th. Guggenheim dropped their target price on shares of Gray Television from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. StockNews.com raised shares of Gray Television from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Wells Fargo & Company dropped their price objective on Gray Television from $6.00 to $4.00 and set an “underweight” rating on the stock in a research note on Friday, August 9th. Finally, Benchmark lowered their target price on Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $6.67.

Institutional Trading of Gray Television

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in Gray Television in the 2nd quarter worth approximately $27,000. CWM LLC increased its holdings in Gray Television by 733.1% in the second quarter. CWM LLC now owns 7,448 shares of the company’s stock valued at $39,000 after buying an additional 6,554 shares in the last quarter. Creative Planning acquired a new position in shares of Gray Television in the third quarter worth about $56,000. HBK Sorce Advisory LLC purchased a new stake in shares of Gray Television during the 2nd quarter worth about $58,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Gray Television in the 3rd quarter valued at about $59,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Gray Television Company Profile

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.