Aviance Capital Management LLC purchased a new position in shares of Gray Television, Inc. (NYSE:GTN) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,984 shares of the company’s stock, valued at approximately $251,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC acquired a new position in Gray Television during the third quarter worth about $163,000. Macquarie Group Ltd. acquired a new position in Gray Television during the third quarter worth about $166,000. Stifel Financial Corp acquired a new position in Gray Television during the third quarter worth about $175,000. Advisor Group Inc. boosted its position in Gray Television by 109.3% during the third quarter. Advisor Group Inc. now owns 11,932 shares of the company’s stock worth $187,000 after acquiring an additional 6,232 shares during the last quarter. Finally, Stephens Inc. AR acquired a new position in Gray Television during the fourth quarter worth about $209,000. Hedge funds and other institutional investors own 68.37% of the company’s stock.
Gray Television, Inc. (NYSE:GTN) opened at $15.00 on Friday. The company has a debt-to-equity ratio of 3.11, a quick ratio of 3.28 and a current ratio of 3.28. Gray Television, Inc. has a 52 week low of $11.70 and a 52 week high of $17.80. The company has a market cap of $1,370.23, a PE ratio of 8.33, a price-to-earnings-growth ratio of 1.99 and a beta of 2.46.
In other Gray Television news, EVP Kevin Paul Latek sold 97,634 shares of Gray Television stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $16.96, for a total transaction of $1,655,872.64. Following the transaction, the executive vice president now directly owns 219,706 shares of the company’s stock, valued at $3,726,213.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.00% of the stock is owned by insiders.
A number of research firms recently weighed in on GTN. ValuEngine lowered shares of Gray Television from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 30th. Zacks Investment Research lowered shares of Gray Television from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 30th. Benchmark reaffirmed a “buy” rating and set a $21.00 target price on shares of Gray Television in a research note on Thursday. Guggenheim set a $21.00 target price on shares of Gray Television and gave the stock a “buy” rating in a research note on Monday, January 22nd. Finally, Jefferies Group assumed coverage on shares of Gray Television in a research note on Thursday, December 14th. They set a “buy” rating and a $18.00 target price on the stock. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $18.57.
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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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