Public Employees Retirement System of Ohio trimmed its position in Gray Television, Inc. (NYSE:GTN) by 13.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,456 shares of the company’s stock after selling 23,489 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.17% of Gray Television worth $2,159,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of Gray Television by 28.5% in the third quarter. JPMorgan Chase & Co. now owns 508,110 shares of the company’s stock valued at $8,891,000 after buying an additional 112,742 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Gray Television by 168.0% during the third quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the company’s stock worth $155,000 after buying an additional 5,542 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Gray Television during the third quarter worth $180,000. GSA Capital Partners LLP acquired a new stake in shares of Gray Television during the third quarter worth $772,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Gray Television during the third quarter worth $552,000. Institutional investors and hedge funds own 76.62% of the company’s stock.
A number of equities research analysts have recently weighed in on GTN shares. ValuEngine raised Gray Television from a “hold” rating to a “buy” rating in a report on Thursday, February 28th. Barrington Research lifted their target price on Gray Television from $23.00 to $26.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. Zacks Investment Research raised 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. Noble Financial reaffirmed a “buy” rating and issued a $23.00 price target on shares of Gray Television in a research note on Friday, March 1st. Finally, Stephens reaffirmed an “overweight” rating and issued a $27.00 price target on shares of Gray Television in a research note on Friday, March 1st. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $24.29.
Gray Television stock traded down $0.02 during midday trading on Wednesday, reaching $24.34. The company’s stock had a trading volume of 2,888 shares, compared to its average volume of 945,025. The stock has a market cap of $2.46 billion, a PE ratio of 10.01, a P/E/G ratio of 1.64 and a beta of 2.02. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 2.15. Gray Television, Inc. has a 52 week low of $10.70 and a 52 week high of $25.31.
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, topping 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%. As a group, analysts expect that Gray Television, Inc. will post 1.47 earnings per share 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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