Gray Television, Inc. (NYSE:GTN) Shares Bought by ClariVest Asset Management LLC

ClariVest Asset Management LLC lifted its stake in Gray Television, Inc. (NYSE:GTN) by 50.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,191 shares of the company’s stock after purchasing an additional 49,959 shares during the period. ClariVest Asset Management LLC owned about 0.20% of Gray Television worth $2,325,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GTN. Parametric Portfolio Associates LLC grew its holdings in shares of Gray Television by 7.0% in the first quarter. Parametric Portfolio Associates LLC now owns 30,941 shares of the company’s stock worth $449,000 after purchasing an additional 2,015 shares during the last quarter. OppenheimerFunds Inc. bought a new position in Gray Television during the 1st quarter worth about $284,000. Teachers Advisors LLC grew its holdings in Gray Television by 5.1% during the 1st quarter. Teachers Advisors LLC now owns 118,463 shares of the company’s stock worth $1,718,000 after acquiring an additional 5,724 shares in the last quarter. Legal & General Group Plc grew its holdings in Gray Television by 3.7% during the 1st quarter. Legal & General Group Plc now owns 15,997 shares of the company’s stock worth $230,000 after acquiring an additional 565 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Gray Television by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 2,716,180 shares of the company’s stock worth $39,385,000 after acquiring an additional 116,874 shares in the last quarter. Hedge funds and other institutional investors own 83.57% of the company’s stock.

Several brokerages have issued reports on GTN. Zacks Investment Research cut shares of Gray Television from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Guggenheim began coverage on shares of Gray Television in a report on Wednesday, October 18th. They set a “buy” rating and a $20.00 target price on the stock. Benchmark reiterated a “buy” rating and set a $21.00 target price on shares of Gray Television in a report on Tuesday, November 7th. ValuEngine upgraded shares of Gray Television from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 21st. Finally, Wells Fargo & Company reiterated an “outperform” rating and set a $18.00 target price (up from $15.50) on shares of Gray Television in a report on Thursday, August 10th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $18.50.

Gray Television, Inc. (NYSE GTN) traded down $0.05 during trading hours on Wednesday, hitting $14.80. 776,713 shares of the stock were exchanged, compared to its average volume of 968,068. Gray Television, Inc. has a twelve month low of $9.95 and a twelve month high of $16.70. The company has a market cap of $1,067.23, a PE ratio of 12.90, a P/E/G ratio of 1.40 and a beta of 3.14. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 3.11.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Monday, November 6th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Gray Television had a net margin of 14.91% and a return on equity of 15.53%. The firm had revenue of $219.00 million during the quarter, compared to the consensus estimate of $218.78 million. During the same quarter in the prior year, the business posted $0.26 earnings per share. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. equities analysts expect that Gray Television, Inc. will post 1.61 earnings per share for the current fiscal year.

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Gray Television Company Profile

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).

Institutional Ownership by Quarter for Gray Television (NYSE:GTN)

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