Capstone Investment Advisors LLC Invests $185,000 in Gray Television, Inc. (NYSE:GTN)

Capstone Investment Advisors LLC purchased a new stake in shares of Gray Television, Inc. (NYSE:GTN) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 34,554 shares of the company’s stock, valued at approximately $185,000.

Several other large investors have also recently bought and sold shares of GTN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Gray Television by 1.1% in the 3rd 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 buying an additional 2,654 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Gray Television by 109.3% in the third quarter. BNP Paribas Financial Markets now owns 127,497 shares of the company’s stock worth $683,000 after acquiring an additional 66,578 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Gray Television during the third quarter worth $143,000. Empowered Funds LLC raised its holdings in shares of Gray Television by 20.1% during the third quarter. Empowered Funds LLC now owns 411,449 shares of the company’s stock worth $2,205,000 after acquiring an additional 68,795 shares in the last quarter. Finally, GSA Capital Partners LLP grew its stake in Gray Television by 287.9% in the third quarter. GSA Capital Partners LLP now owns 232,832 shares of the company’s stock valued at $1,248,000 after purchasing an additional 172,801 shares in the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

Gray Television Stock Down 0.9 %

GTN stock opened at $4.27 on Monday. The stock has a market capitalization of $425.59 million, a price-to-earnings ratio of 2.85, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The company has a 50-day moving average of $5.16 and a two-hundred day moving average of $5.25. Gray Television, Inc. has a 52-week low of $3.95 and a 52-week high of $10.07. 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 (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 the consensus estimate of $967.49 million. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. Gray Television’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.57) EPS. As a group, equities research analysts anticipate that Gray Television, Inc. will post 2.88 EPS for the current year.

Gray Television Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 7.49%. The ex-dividend date is Friday, December 13th. Gray Television’s payout ratio is currently 21.33%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Benchmark cut their price target on Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Barrington Research upgraded shares of Gray Television to a “hold” rating in a research note on Thursday, November 14th. StockNews.com upgraded shares of Gray Television from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Wells Fargo & Company reduced their price objective on shares of Gray Television from $6.00 to $4.00 and set an “underweight” rating for the company in a research note on Friday, August 9th. Finally, Guggenheim reduced their price target on Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. One 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 company’s stock. According to data from MarketBeat.com, Gray Television has an average rating of “Moderate Buy” and an average target price of $6.67.

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.