California State Teachers Retirement System increased its stake in Gray Television Inc. (NYSE:GTN) by 0.6% during the second quarter, Holdings Channel reports. The firm owned 134,485 shares of the company’s stock after buying an additional 758 shares during the period. California State Teachers Retirement System owned about 0.19% of Gray Television worth $1,459,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. acquired a new stake in Gray Television during the second quarter worth about $12,499,000. Calixto Global Investors LP increased its stake in Gray Television by 137.8% in the first quarter. Calixto Global Investors LP now owns 1,851,713 shares of the company’s stock worth $21,702,000 after buying an additional 1,072,891 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Gray Television by 75.2% in the second quarter. Bank of New York Mellon Corp now owns 1,553,300 shares of the company’s stock worth $16,853,000 after buying an additional 666,644 shares during the last quarter. Bank of Montreal Can acquired a new stake in Gray Television during the second quarter worth about $5,514,000. Finally, Teachers Advisors Inc. increased its stake in Gray Television by 30.4% in the first quarter. Teachers Advisors Inc. now owns 1,064,288 shares of the company’s stock worth $12,473,000 after buying an additional 248,253 shares during the last quarter. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Gray Television Inc. (NYSE:GTN) traded down 9.42% during midday trading on Tuesday, hitting $10.00. 2,413,262 shares of the stock traded hands. The stock has a market cap of $718.78 million, a price-to-earnings ratio of 14.95 and a beta of 2.94. The company’s 50 day moving average price is $11.06 and its 200-day moving average price is $11.53. Gray Television Inc. has a 12-month low of $9.15 and a 12-month high of $17.70.

Gray Television (NYSE:GTN) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.25 EPS for the quarter, hitting analysts’ consensus estimates of $0.25. The business had revenue of $196.60 million for the quarter, compared to analysts’ expectations of $196.25 million. Gray Television had a net margin of 6.98% and a return on equity of 12.58%. The business’s revenue was up 37.1% on a year-over-year basis. During the same quarter last year, the company earned $0.17 EPS. On average, equities research analysts expect that Gray Television Inc. will post $1.63 EPS for the current year.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Gray Television from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Gray Television in a research note on Tuesday, May 24th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Gray Television has an average rating of “Buy” and a consensus price target of $18.75.

Gray Television Company Profile

Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in markets across the United States. The Company owns and/or operates television stations in approximately 50 television markets broadcasting over 180 separate programming streams, including approximately 40 affiliates of the CBS Network (CBS), over 30 affiliates of the NBC Network (NBC), approximately 20 affiliates of the ABC Network (ABC) and over 10 affiliates of the FOX Network (FOX).

5 Day Chart for NYSE:GTN

Want to see what other hedge funds are holding GTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gray Television Inc. (NYSE:GTN).

Receive News & Ratings for Gray Television Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gray Television Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.