Virtu Financial LLC Acquires Shares of 102,995 Gray Television, Inc. (NYSE:GTN)

Virtu Financial LLC bought a new stake in Gray Television, Inc. (NYSE:GTN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 102,995 shares of the company’s stock, valued at approximately $324,000. Virtu Financial LLC owned about 0.10% of Gray Television at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Intech Investment Management LLC purchased a new stake in shares of Gray Television in the third quarter valued at about $143,000. BNP Paribas Financial Markets lifted its position in Gray Television by 109.3% in the third quarter. BNP Paribas Financial Markets now owns 127,497 shares of the company’s stock valued at $683,000 after purchasing an additional 66,578 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Gray Television by 1.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,371 shares of the company’s stock valued at $1,283,000 after purchasing an additional 2,654 shares during the period. Capstone Investment Advisors LLC purchased a new stake in Gray Television in the 3rd quarter valued at approximately $185,000. Finally, Verition Fund Management LLC increased its position in Gray Television by 64.0% during the 3rd quarter. Verition Fund Management LLC now owns 17,480 shares of the company’s stock worth $94,000 after purchasing an additional 6,824 shares during the period. Institutional investors and hedge funds own 78.64% of the company’s stock.

Gray Television Price Performance

GTN stock opened at $4.41 on Friday. The firm has a 50 day moving average of $4.01 and a 200-day moving average of $4.35. The company has a market cap of $447.30 million, a price-to-earnings ratio of 2.94 and a beta of 1.45. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.76. Gray Television, Inc. has a 12-month low of $2.91 and a 12-month high of $7.41.

Gray Television (NYSE:GTN) last released its quarterly earnings data on Thursday, February 27th. The company reported $1.59 earnings per share for the quarter, meeting the consensus estimate of $1.59. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. As a group, equities analysts expect that Gray Television, Inc. will post 3.32 EPS for the current fiscal year.

Gray Television Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.08 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 7.26%. Gray Television’s dividend payout ratio is presently 9.61%.

Insider Buying and Selling

In other Gray Television news, Director Richard Lee Boger sold 16,000 shares of Gray Television stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $3.85, for a total transaction of $61,600.00. Following the completion of the transaction, the director now owns 55,347 shares in the company, valued at approximately $213,085.95. The trade was a 22.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on GTN shares. Wells Fargo & Company raised Gray Television from an “underweight” rating to an “equal weight” rating and set a $4.00 price target for the company in a report on Monday, March 3rd. Guggenheim decreased their target price on shares of Gray Television from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $6.33.

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.