Zurcher Kantonalbank Zurich Cantonalbank Has $273,000 Position in Gray Television, Inc. (NYSE:GTN)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Gray Television, Inc. (NYSE:GTN) by 32.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 16,628 shares of the company’s stock after purchasing an additional 4,100 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Gray Television were worth $273,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GTN. Penserra Capital Management LLC acquired a new position in Gray Television during the first quarter valued at approximately $35,000. New York State Teachers Retirement System acquired a new position in Gray Television during the second quarter valued at approximately $115,000. Legal & General Group Plc boosted its position in Gray Television by 15.8% during the fourth quarter. Legal & General Group Plc now owns 14,608 shares of the company’s stock valued at $216,000 after purchasing an additional 1,998 shares during the last quarter. SG Americas Securities LLC acquired a new position in Gray Television during the first quarter valued at approximately $220,000. Finally, DekaBank Deutsche Girozentrale boosted its position in Gray Television by 47.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 14,179 shares of the company’s stock valued at $243,000 after purchasing an additional 4,591 shares during the last quarter. 85.79% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently commented on the company. TheStreet cut Gray Television from a “b-” rating to a “c+” rating in a research report on Tuesday, June 4th. Zacks Investment Research cut Gray Television from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Barrington Research reissued a “buy” rating on shares of Gray Television in a research report on Wednesday, May 8th. ValuEngine cut Gray Television from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 10th. Finally, Benchmark reissued a “buy” rating on shares of Gray Television in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $24.80.

NYSE:GTN traded up $0.14 on Tuesday, hitting $15.75. The company’s stock had a trading volume of 37,845 shares, compared to its average volume of 960,209. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 2.89. The stock has a fifty day moving average of $16.81 and a two-hundred day moving average of $19.05. The firm has a market capitalization of $1.59 billion, a P/E ratio of 6.49, a price-to-earnings-growth ratio of 1.66 and a beta of 1.98. Gray Television, Inc. has a one year low of $13.60 and a one year high of $25.31.

Gray Television (NYSE:GTN) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.03. The firm had revenue of $508.00 million for the quarter, compared to analyst estimates of $508.79 million. Gray Television had a return on equity of 19.25% and a net margin of 10.78%. The business’s revenue for the quarter was up 103.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.46 earnings per share. As a group, sell-side analysts anticipate that Gray Television, Inc. will post 0.91 EPS for the current year.

In other news, Chairman Hilton H. Howell, Jr. bought 1,800 shares of the stock in a transaction dated Friday, August 9th. The shares were bought at an average price of $14.76 per share, for a total transaction of $26,568.00. Following the completion of the purchase, the chairman now owns 992,224 shares in the company, valued at $14,645,226.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Harriett J. Robinson bought 7,500 shares of the stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $14.87 per share, for a total transaction of $111,525.00. Following the purchase, the insider now owns 1,008,467 shares of the company’s stock, valued at approximately $14,995,904.29. The disclosure for this purchase can be found here. Insiders acquired 10,600 shares of company stock worth $158,230 in the last 90 days. Corporate insiders own 10.14% of the company’s stock.

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.

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Institutional Ownership by Quarter for Gray Television (NYSE:GTN)

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