Envestnet Asset Management Inc. Boosts Holdings in Gray Television, Inc. (GTN)

Envestnet Asset Management Inc. grew its holdings in shares of Gray Television, Inc. (NYSE:GTN) by 208.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,685 shares of the company’s stock after acquiring an additional 13,313 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Gray Television were worth $308,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GTN. Parametric Portfolio Associates LLC grew its holdings in shares of Gray Television by 1.3% in the second quarter. Parametric Portfolio Associates LLC now owns 31,340 shares of the company’s stock worth $429,000 after purchasing an additional 399 shares during the last quarter. Sterling Capital Management LLC grew its holdings in shares of Gray Television by 0.8% in the second quarter. Sterling Capital Management LLC now owns 58,513 shares of the company’s stock worth $802,000 after purchasing an additional 440 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Gray Television by 3.2% in the second quarter. Legal & General Group Plc now owns 16,502 shares of the company’s stock worth $226,000 after purchasing an additional 505 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Gray Television by 0.7% in the second quarter. Rhumbline Advisers now owns 75,994 shares of the company’s stock worth $1,041,000 after purchasing an additional 535 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in shares of Gray Television by 0.4% in the second quarter. TIAA CREF Investment Management LLC now owns 373,754 shares of the company’s stock worth $5,120,000 after purchasing an additional 1,623 shares during the last quarter. 83.45% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Kevin Paul Latek sold 97,634 shares of the business’s stock in a transaction on 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 sale, the executive vice president now owns 219,706 shares in the company, valued at approximately $3,726,213.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 12.00% of the company’s stock.

GTN has been the topic of several recent analyst reports. ValuEngine upgraded shares of Gray Television from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Zacks Investment Research cut shares of Gray Television from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Royal Bank of Canada restated a “buy” rating and issued a $17.00 target price on shares of Gray Television in a report on Wednesday, September 27th. Guggenheim assumed coverage on shares of Gray Television in a report on Wednesday, October 18th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Benchmark reiterated a “buy” rating and issued a $21.00 price target on shares of Gray Television in a report on Tuesday, November 7th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Gray Television currently has an average rating of “Buy” and an average target price of $18.43.

Shares of Gray Television, Inc. (NYSE GTN) opened at $17.25 on Monday. The firm has a market cap of $1,530.00, a price-to-earnings ratio of 9.48, a P/E/G ratio of 2.35 and a beta of 3.14. Gray Television, Inc. has a fifty-two week low of $9.95 and a fifty-two week high of $17.50. 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 the consensus estimate of $0.22 by ($0.01). The company had revenue of $219.00 million during the quarter, compared to the consensus estimate of $218.78 million. Gray Television had a net margin of 14.91% and a return on equity of 15.53%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 EPS. equities analysts expect that Gray Television, Inc. will post 1.59 EPS for the current 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).

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

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