Aviance Capital Management LLC Takes Position in Gray Television, Inc. (NYSE:GTN)

Aviance Capital Management LLC purchased a new position in shares of Gray Television, Inc. (NYSE:GTN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,984 shares of the company’s stock, valued at approximately $251,000.

A number of other large investors have also recently made changes to their positions in the business. Parametric Portfolio Associates LLC boosted its holdings in Gray Television by 1.3% in the second quarter. Parametric Portfolio Associates LLC now owns 31,340 shares of the company’s stock valued at $429,000 after purchasing an additional 399 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in Gray Television by 0.8% in the second quarter. Sterling Capital Management LLC now owns 58,513 shares of the company’s stock valued at $802,000 after purchasing an additional 440 shares during the last quarter. Voya Investment Management LLC boosted its holdings in Gray Television by 9.5% in the second quarter. Voya Investment Management LLC now owns 32,706 shares of the company’s stock valued at $448,000 after purchasing an additional 2,844 shares during the last quarter. California Public Employees Retirement System lifted its holdings in Gray Television by 2.2% during the 3rd quarter. California Public Employees Retirement System now owns 153,139 shares of the company’s stock worth $2,404,000 after buying an additional 3,339 shares during the last quarter. Finally, Teachers Advisors LLC lifted its holdings in Gray Television by 3.1% during the 2nd quarter. Teachers Advisors LLC now owns 122,147 shares of the company’s stock worth $1,673,000 after buying an additional 3,684 shares during the last quarter. Institutional investors own 74.42% of the company’s stock.

A number of research analysts have commented on the company. Guggenheim set a $21.00 target price on Gray Television and gave the stock a “buy” rating in a report on Monday, January 22nd. Benchmark reissued a “buy” rating and issued a $21.00 price target on shares of Gray Television in a report on Thursday, February 15th. Zacks Investment Research raised Gray Television from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 14th. ValuEngine upgraded Gray Television from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Jefferies Group initiated coverage on Gray Television in a research report on Thursday, December 14th. They issued a “buy” rating and a $18.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $18.57.

Gray Television, Inc. (NYSE GTN) opened at $14.80 on Friday. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 3.11. The stock has a market capitalization of $1,320.81, a price-to-earnings ratio of 8.18, a P/E/G ratio of 1.92 and a beta of 2.46. Gray Television, Inc. has a 1-year low of $11.70 and a 1-year high of $17.80.

In related news, EVP Kevin Paul Latek sold 97,634 shares of Gray Television stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $16.96, for a total value of $1,655,872.64. Following the transaction, the executive vice president now directly owns 219,706 shares in the company, valued at approximately $3,726,213.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.00% of the company’s stock.

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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).

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

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