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Gray Television (NYSE:GTN – Get Free Report) was upgraded by stock analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a report released on Monday, MarketBeat.com reports. The firm presently has a $4.00 target price on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 12.83% from the company’s current price.
A number of other research analysts have also recently issued reports on GTN. Barrington Research upgraded shares of Gray Television to a “hold” rating in a report on Thursday, November 14th. Guggenheim dropped their price target on shares of Gray Television from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Benchmark decreased their price objective on Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a report on Monday, November 11th. Finally, StockNews.com raised Gray Television from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $6.67.
Gray Television Stock Down 3.9 %
GTN stock opened at $3.55 on Monday. The stock’s 50 day simple moving average is $3.63 and its 200 day simple moving average is $4.42. The company has a market cap of $353.32 million, a P/E ratio of 2.36 and a beta of 1.41. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.13 and a current ratio of 1.13. Gray Television has a fifty-two week low of $2.91 and a fifty-two week high of $7.41.
Gray Television (NYSE:GTN – Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $1.59 EPS for the quarter, meeting the consensus estimate of $1.59. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. On average, research analysts expect that Gray Television will post 3.32 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Gray Television 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 transaction of $61,600.00. Following the transaction, the director now owns 55,347 shares of the company’s stock, valued at $213,085.95. This trade represents a 22.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Gray Television
Several institutional investors have recently modified their holdings of the business. Voleon Capital Management LP bought a new stake in Gray Television during the fourth quarter worth $32,000. Ameriprise Financial Inc. purchased a new stake in shares of Gray Television during the 4th quarter valued at $33,000. Boothbay Fund Management LLC bought a new stake in shares of Gray Television during the 4th quarter worth $34,000. Federated Hermes Inc. raised its stake in shares of Gray Television by 214,100.0% during the 4th quarter. Federated Hermes Inc. now owns 12,852 shares of the company’s stock worth $40,000 after purchasing an additional 12,846 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Gray Television in the 4th quarter worth about $43,000. 78.64% of the stock is owned by institutional investors.
About Gray Television
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.
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