ClariVest Asset Management LLC Purchases 105,681 Shares of Gray Television, Inc. (GTN)

ClariVest Asset Management LLC lifted its position in shares of Gray Television, Inc. (NYSE:GTN) by 48.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 323,121 shares of the company’s stock after buying an additional 105,681 shares during the quarter. ClariVest Asset Management LLC’s holdings in Gray Television were worth $4,762,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Neuberger Berman Group LLC increased its stake in shares of Gray Television by 1.2% during the third quarter. Neuberger Berman Group LLC now owns 4,931,433 shares of the company’s stock worth $86,300,000 after purchasing an additional 58,415 shares during the period. Vanguard Group Inc increased its stake in Gray Television by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 3,593,080 shares of the company’s stock worth $62,879,000 after acquiring an additional 52,313 shares during the period. Vanguard Group Inc. increased its stake in Gray Television by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,593,080 shares of the company’s stock worth $62,879,000 after acquiring an additional 52,313 shares during the period. Bank of New York Mellon Corp increased its stake in Gray Television by 142.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,018,985 shares of the company’s stock worth $47,700,000 after acquiring an additional 1,773,153 shares during the period. Finally, Clearbridge Investments LLC increased its stake in Gray Television by 1,088.5% during the 3rd quarter. Clearbridge Investments LLC now owns 2,680,717 shares of the company’s stock worth $46,913,000 after acquiring an additional 2,455,169 shares during the period. Institutional investors own 83.05% of the company’s stock.

Shares of GTN opened at $16.53 on Wednesday. Gray Television, Inc. has a 52-week low of $10.70 and a 52-week high of $20.24. The company has a debt-to-equity ratio of 1.64, a quick ratio of 6.32 and a current ratio of 6.32. The firm has a market capitalization of $1.47 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.30 and a beta of 1.91.

A number of equities analysts have commented on the company. ValuEngine upgraded Gray Television from a “hold” rating to a “buy” rating in a research note on Monday, October 22nd. Noble Financial restated a “buy” rating on shares of Gray Television in a research note on Wednesday, November 7th. Zacks Investment Research lowered Gray Television from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 5th. Benchmark raised their price objective on Gray Television from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Finally, Wolfe Research assumed coverage on Gray Television in a research note on Friday, December 7th. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Gray Television currently has an average rating of “Buy” and an average price target of $22.29.

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Gray Television Profile

Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 23, 2018, the company owned and operated television stations in 57 television markets broadcasting approximately 200 program streams, including approximately 100 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.

Further Reading: What is a Derivative?

Want to see what other hedge funds are holding GTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gray Television, Inc. (NYSE:GTN).

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

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