Dana Investment Advisors Inc. Purchases Shares of 144,941 Gray Television, Inc. (GTN)

Dana Investment Advisors Inc. purchased a new position in shares of Gray Television, Inc. (NYSE:GTN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 144,941 shares of the company’s stock, valued at approximately $2,276,000. Dana Investment Advisors Inc. owned about 0.20% of Gray Television as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Gray Television by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,861,369 shares of the company’s stock worth $39,201,000 after buying an additional 145,189 shares during the last quarter. Skylands Capital LLC raised its stake in shares of Gray Television by 40.0% during the 3rd quarter. Skylands Capital LLC now owns 53,200 shares of the company’s stock worth $835,000 after buying an additional 15,200 shares during the last quarter. FMR LLC raised its stake in shares of Gray Television by 52.1% during the 2nd quarter. FMR LLC now owns 5,870,039 shares of the company’s stock worth $80,419,000 after buying an additional 2,011,342 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Gray Television during the 3rd quarter worth $447,000. Finally, ClariVest Asset Management LLC raised its stake in Gray Television by 50.9% in the 3rd quarter. ClariVest Asset Management LLC now owns 148,191 shares of the company’s stock valued at $2,325,000 after purchasing an additional 49,959 shares during the last quarter. 83.57% of the stock is owned by institutional investors and hedge funds.

Shares of Gray Television, Inc. (NYSE:GTN) traded up $0.50 during mid-day trading on Friday, reaching $15.25. 2,893,100 shares of the company traded hands, compared to its average volume of 989,803. Gray Television, Inc. has a 12-month low of $9.95 and a 12-month high of $16.70. The firm has a market cap of $1,070.86, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 1.41 and a beta of 3.14. 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 announced its 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). Gray Television had a net margin of 14.91% and a return on equity of 15.53%. The firm had revenue of $219.00 million during the quarter, compared to analyst estimates of $218.78 million. During the same period in the previous year, the firm posted $0.26 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. sell-side analysts predict that Gray Television, Inc. will post 1.61 EPS for the current year.

Several research analysts recently weighed in on the stock. Jefferies Group assumed coverage on shares of Gray Television in a research note on Thursday. They issued a “buy” rating and a $18.00 target price for the company. Royal Bank of Canada reissued a “buy” rating and issued a $17.00 target price on shares of Gray Television in a research note on Wednesday, September 27th. ValuEngine raised shares of Gray Television from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 21st. Zacks Investment Research raised shares of Gray Television from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Thursday, September 21st. Finally, Benchmark reissued a “buy” rating and issued a $21.00 target price on shares of Gray Television in a research note on Tuesday, November 7th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $18.43.

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About Gray Television

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).

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

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