Gray Television, Inc. (GTN) Position Increased by Micawber Capital LLC
Micawber Capital LLC boosted its stake in shares of Gray Television, Inc. (NYSE:GTN) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 142,577 shares of the company’s stock after buying an additional 4,923 shares during the period. Gray Television comprises about 3.2% of Micawber Capital LLC’s investment portfolio, making the stock its 12th largest position. Micawber Capital LLC owned 0.22% of Gray Television worth $1,953,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of GTN. BNP Paribas Arbitrage SA raised its position in Gray Television by 4,901.3% in the second quarter. BNP Paribas Arbitrage SA now owns 7,452 shares of the company’s stock valued at $102,000 after buying an additional 7,303 shares during the last quarter. Acrospire Investment Management LLC raised its position in Gray Television by 1,072.9% in the first quarter. Acrospire Investment Management LLC now owns 11,260 shares of the company’s stock valued at $163,000 after buying an additional 10,300 shares during the last quarter. Clinton Group Inc. purchased a new position in Gray Television during the first quarter valued at $176,000. Legal & General Group Plc raised its position in Gray Television by 3.2% in the second quarter. Legal & General Group Plc now owns 16,502 shares of the company’s stock valued at $226,000 after buying an additional 505 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in Gray Television during the first quarter valued at $252,000. Institutional investors own 89.48% of the company’s stock.
Shares of Gray Television, Inc. (NYSE:GTN) opened at 14.65 on Thursday. Gray Television, Inc. has a 1-year low of $7.00 and a 1-year high of $15.45. The stock has a 50 day moving average of $14.31 and a 200-day moving average of $13.74. The stock has a market capitalization of $1.05 billion, a P/E ratio of 9.11 and a beta of 3.28.
Gray Television (NYSE:GTN) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The business had revenue of $226.70 million during the quarter, compared to analysts’ expectations of $221.05 million. Gray Television had a return on equity of 17.32% and a net margin of 13.38%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 EPS. Equities research analysts predict that Gray Television, Inc. will post $1.61 earnings per share for the current fiscal year.
Several equities analysts have weighed in on GTN shares. Royal Bank Of Canada set a $16.00 target price on shares of Gray Television and gave the company a “buy” rating in a report on Tuesday, July 18th. Benchmark Co. reiterated a “buy” rating and issued a $19.00 target price on shares of Gray Television in a report on Monday, May 15th. BidaskClub lowered shares of Gray Television from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 6th. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $18.00 price target (up from $15.50) on shares of Gray Television in a research note on Thursday, August 10th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $17.00.
About Gray Television
Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in various markets across the United States. As of February 21, 2017, the Company owned and/or operated television stations in 54 television markets broadcasting over 200 separate programming streams, including 37 affiliates of the CBS Network (CBS), 29 affiliates of the NBC Network (NBC), 20 affiliates of the ABC Network (ABC) and 15 affiliates of the FOX Network (FOX).
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