Welch Group LLC purchased a new position in Gray Television, Inc. (NYSE:GTN) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 10,000 shares of the company’s stock, valued at approximately $214,000.

A number of other hedge funds have also bought and sold shares of the business. Retirement Systems of Alabama bought a new position in Gray Television in the 1st quarter worth approximately $152,227,000. Calamos Advisors LLC boosted its stake in Gray Television by 1.4% in the 1st quarter. Calamos Advisors LLC now owns 36,500 shares of the company’s stock worth $780,000 after purchasing an additional 500 shares during the period. Deutsche Bank AG boosted its stake in Gray Television by 172.8% in the 4th quarter. Deutsche Bank AG now owns 518,994 shares of the company’s stock worth $7,647,000 after purchasing an additional 328,724 shares during the period. American Century Companies Inc. bought a new position in Gray Television in the 4th quarter worth approximately $2,878,000. Finally, Geode Capital Management LLC boosted its stake in Gray Television by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 816,143 shares of the company’s stock worth $12,029,000 after purchasing an additional 52,552 shares during the period. Institutional investors and hedge funds own 76.72% of the company’s stock.

Several research analysts have weighed in on GTN shares. Zacks Investment Research upgraded Gray Television from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a research note on Tuesday, January 8th. Barrington Research upped their price target on Gray Television from $23.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. ValuEngine upgraded Gray Television from a “hold” rating to a “buy” rating in a research note on Thursday, February 28th. Stephens restated an “overweight” rating and issued a $27.00 price target on shares of Gray Television in a research note on Friday, March 1st. Finally, Noble Financial reiterated a “buy” rating and set a $23.00 target price on shares of Gray Television in a research report on Friday, March 1st. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Gray Television presently has a consensus rating of “Buy” and an average price target of $24.29.

NYSE:GTN traded down $0.12 during midday trading on Monday, hitting $24.05. 891,828 shares of the company traded hands, compared to its average volume of 992,682. Gray Television, Inc. has a 12-month low of $10.70 and a 12-month high of $25.31. The firm has a market capitalization of $2.43 billion, a PE ratio of 9.90, a PEG ratio of 1.67 and a beta of 2.02. The company has a debt-to-equity ratio of 2.15, a quick ratio of 5.80 and a current ratio of 5.80.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Thursday, February 28th. The company reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.08. Gray Television had a return on equity of 20.07% and a net margin of 19.44%. Equities analysts forecast that Gray Television, Inc. will post 1.47 EPS for the current year.

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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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