Gray Television (NYSE:GTN.A) Shares Down 3.1% – Should You Sell?

Shares of Gray Television, Inc. (NYSE:GTN.A) dropped 3.1% during mid-day trading on Wednesday . The stock traded as low as $6.97 and last traded at $6.97. Approximately 2,434 shares traded hands during trading, a decline of 72% from the average daily volume of 8,599 shares. The stock had previously closed at $7.19.

Gray Television Stock Performance

The firm has a fifty day moving average of $7.05 and a 200-day moving average of $7.72. The stock has a market capitalization of $695.80 million, a price-to-earnings ratio of 4.65 and a beta of 1.21. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.76.

Gray Television Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 4.58%. Gray Television’s dividend payout ratio is presently 21.33%.

Gray Television Company Profile

Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 28, 2019, it owned and operated television stations in 91 television markets broadcasting approximately 400 program streams, including approximately 150 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.