Tributary Capital Management LLC lifted its stake in Gray Television, Inc. (NYSE:GTN – Get Rating) by 36.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 918,882 shares of the company's stock after buying an additional 245,863 shares during the period. Gray Television makes up approximately 1.5% of Tributary Capital Management LLC's investment portfolio, making the stock its 25th biggest position. Tributary Capital Management LLC owned about 0.96% of Gray Television worth $15,520,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Teacher Retirement System of Texas grew its holdings in shares of Gray Television by 6.7% during the 1st quarter. Teacher Retirement System of Texas now owns 16,314 shares of the company's stock worth $360,000 after purchasing an additional 1,022 shares in the last quarter. Guggenheim Capital LLC increased its holdings in Gray Television by 3.8% in the 1st quarter. Guggenheim Capital LLC now owns 30,927 shares of the company's stock valued at $683,000 after buying an additional 1,118 shares during the period. Nisa Investment Advisors LLC bought a new position in Gray Television in the 1st quarter valued at about $26,000. Allworth Financial LP acquired a new position in shares of Gray Television in the 1st quarter valued at approximately $28,000. Finally, M&T Bank Corp lifted its holdings in shares of Gray Television by 7.5% during the 1st quarter. M&T Bank Corp now owns 21,746 shares of the company's stock worth $481,000 after acquiring an additional 1,511 shares during the period. Institutional investors and hedge funds own 80.61% of the company's stock.
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Gray Television Price Performance
Shares of GTN stock traded up $0.17 on Tuesday, reaching $15.66. The company had a trading volume of 3,498 shares, compared to its average volume of 495,167. The business's 50-day moving average is $18.95 and its 200 day moving average is $19.43. Gray Television, Inc. has a one year low of $15.40 and a one year high of $25.24. 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 stock has a market capitalization of $1.46 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 0.36 and a beta of 1.66.
Gray Television (NYSE:GTN – Get Rating) last issued its earnings results on Friday, August 5th. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. Gray Television had a net
margin of 5.73% and a return on equity of 9.66%. The firm had revenue of $868.00 million for the quarter, compared to analyst estimates of $854.97 million. During the same quarter last year, the business posted $0.27 earnings per share. The company's quarterly revenue was up 58.7% on a year-over-year basis. Equities research analysts forecast that Gray Television, Inc. will post 4.45 EPS for the current fiscal year.
Gray Television Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a $0.08 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $0.32 dividend on an annualized basis and a yield of 2.04%. Gray Television's dividend payout ratio is currently 25.00%.
Analyst Ratings Changes
Separately, StockNews.com upgraded shares of Gray Television from a "sell" rating to a "hold" rating in a research report on Thursday, September 8th.
About Gray Television
(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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