In yesterday’s Wall Street session, Gray Television Inc. (NYSE:GTN) shares traded at $11.64, down -3.48% from the previous session.
GTN stock price is now 1.55% away from the 50-day moving average and -30.81% away from the 200-day moving average. The market capitalization of the company currently stands at $1.05B.
With the price target reduced from $25 to $7, Wells Fargo Downgraded its rating from Overweight to Underweight for Gray Television Inc. (NYSE: GTN)., while ‘Loop Capital’ rates the stock as ‘Buy’.
In other news, ROBINSON HARRIETT J, 10% Owner bought 68,750 shares of the company’s stock on Dec 19. The stock was bought for $1,225,350 at an average price of $17.82. Upon completion of the transaction, the 10% Owner now directly owns 1,042,217 shares in the company, valued at $12.13 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 19, 10% Owner ROBINSON HARRIETT J sold 68,750 shares of the business’s stock. A total of $1,225,350 was realized by selling the stock at an average price of $17.82. Insiders disposed of 633,653 shares of company stock worth roughly $7.38 million over the past 1 year. A total of 2.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GTN stock. A new stake in Gray Television Inc. shares was purchased by HIGHLINE CAPITAL MANAGEMENT, L.P. during the first quarter worth $4,059,000. BANK OF MONTREAL /CAN/ invested $2,065,000 in shares of GTN during the first quarter. In the first quarter, QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in Gray Television Inc. valued at approximately $1,080,000. JUMP FINANCIAL, LLC acquired a new stake in GTN for approximately $915,000. CORNERCAP INVESTMENT COUNSEL INC purchased a new stake in GTN valued at around $625,000 in the second quarter. In total, there are 300 active investors with 91.40% ownership of the company’s stock.
On Monday morning Gray Television Inc. (NYSE: GTN) stock kicked off with the opening price of $12.08. During the past 12 months, Gray Television Inc. has had a low of $8.61 and a high of $24.81. As of last week, the company has a debt-to-equity ratio of 3.42, a current ratio of 2.10, and a quick ratio of 2.10. The fifty day moving average price for GTN is $11.39 and a two-hundred day moving average price translates $16.77 for the stock.
The latest earnings results from Gray Television Inc. (NYSE: GTN) was released for Jun, 2022. According to the Broadcasting Company, earnings per share came in at $0.91, beating analysts’ expectations of $0.87 by 0.04. This compares to -$0.18 EPS in the same period last year. The net profit margin was 7.40% and return on equity was 13.40% for GTN. The company reported revenue of $909.0 million for the quarter, compared to $601.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 51.25 percent. For the current quarter, analysts expect GTN to generate $950.16M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/30/2022. Investors who held shares on 12/15/2022 were paid a $0.08 dividend. On an annualized basis, this represents a $0.32 dividend and a 2.75% percent yield. There was an ex-dividend date of 12/14/2022 for this dividend. In terms of dividend payout ratio, GTN is presently at 9.00%.
Gray Television Inc.(GTN) Company Profile
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, Justice, This TV Network, Antenna TV, Telemundo, Cozi, Heroes and Icons, and MOVIES! Network; and local news/weather channels in various markets. In addition, the company offers video program production services. It owns and operates television stations and digital assets that serve 113 television markets in the United States. The company was formerly known as Gray Communications Systems, Inc. and changed its name to Gray Television, Inc. in August 2002. Gray Television, Inc. was founded in 1891 and is headquartered in Atlanta, Georgia.