Gray Television (NYSE:GTN – Get Rating) was upgraded by investment analysts at from a “sell” rating to a “hold” rating in a research note issued on Thursday.

Gray Television Stock Performance

Shares of GTN traded up $0.12 during trading hours on Thursday, reaching $18.48. 388,589 shares of the company traded hands, compared to its average volume of 744,612. The company has a quick ratio of 2.54, a current ratio of 2.54 and a debt-to-equity ratio of 3.64. The business has a fifty day moving average price of $18.68 and a 200-day moving average price of $19.85. Gray Television has a 12-month low of $16.13 and a 12-month high of $25.24. The stock has a market capitalization of $1.72 billion, a P/E ratio of 14.44, a P/E/G ratio of 0.42 and a beta of 1.66.

Gray Television (NYSE:GTN – Get Rating) last issued its quarterly earnings results on Friday, August 5th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Gray Television had a return on equity of 9.66% and a net margin of 5.73%. The company had revenue of $868.00 million during the quarter, compared to analysts’ expectations of $854.97 million. During the same quarter in the previous year, the firm posted $0.27 EPS. The firm’s revenue was up 58.7% compared to the same quarter last year. Equities analysts anticipate that Gray Television will post 4.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC acquired a new position in shares of Gray Television in the 1st quarter valued at about $26,000. Captrust Financial Advisors grew its stake in shares of Gray Television by 219.5% during the 2nd quarter. Captrust Financial Advisors now owns 1,556 shares of the company’s stock worth $26,000 after purchasing an additional 1,069 shares during the period. Allworth Financial LP purchased a new position in shares of Gray Television during the 1st quarter valued at approximately $28,000. Arcadia Investment Management Corp MI acquired a new position in shares of Gray Television in the 1st quarter valued at $36,000. Finally, UMB Bank N A MO acquired a new position in shares of Gray Television in the 1st quarter valued at $39,000. 80.61% of the stock is currently owned by institutional investors and hedge funds.

Gray Television Company Profile

(Get Rating)

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.

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