Mitsubishi UFJ Trust & Banking Corp Boosts Position in Gray Television, Inc. (NYSE:GTN)

Mitsubishi UFJ Trust & Banking Corp lifted its position in Gray Television, Inc. (NYSE:GTN) by 12.4% in the fourth quarter, HoldingsChannel reports. The firm owned 227,775 shares of the company’s stock after buying an additional 25,211 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Gray Television were worth $717,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GTN. Capital Management Corp VA grew its stake in shares of Gray Television by 6.6% in the 4th quarter. Capital Management Corp VA now owns 5,763,336 shares of the company’s stock valued at $18,155,000 after buying an additional 355,067 shares during the period. EntryPoint Capital LLC grew its position in Gray Television by 925.7% in the fourth quarter. EntryPoint Capital LLC now owns 169,670 shares of the company’s stock worth $534,000 after acquiring an additional 153,128 shares during the period. Barclays PLC increased its stake in Gray Television by 114.4% during the third quarter. Barclays PLC now owns 272,272 shares of the company’s stock worth $1,460,000 after acquiring an additional 145,263 shares during the last quarter. Kingsview Wealth Management LLC purchased a new stake in Gray Television in the fourth quarter valued at $340,000. Finally, Virtu Financial LLC acquired a new position in shares of Gray Television in the 4th quarter valued at $324,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Gray Television

In related news, Director Richard Lee Boger sold 16,000 shares of Gray Television stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $3.85, for a total value of $61,600.00. Following the completion of the transaction, the director now owns 55,347 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. 4.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GTN has been the topic of several research analyst reports. Guggenheim reduced their price objective on shares of Gray Television from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Wells Fargo & Company upgraded shares of Gray Television from an “underweight” rating to an “equal weight” rating and set a $4.00 price objective on the stock in a report on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $6.33.

Gray Television Stock Performance

NYSE GTN opened at $4.33 on Wednesday. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $439.17 million, a P/E ratio of 2.88 and a beta of 1.45. The stock has a 50-day moving average of $4.07 and a two-hundred day moving average of $4.34. Gray Television, Inc. has a 1-year low of $2.91 and a 1-year high of $7.41.

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

Gray Television Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 7.40%. The ex-dividend date of this dividend was Friday, March 14th. Gray Television’s payout ratio is currently 9.61%.

Gray Television 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.