Cascade Investment Advisors Inc. trimmed its stake in Gray Television, Inc. (NYSE:GTN) by 3.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 62,110 shares of the company’s stock after selling 1,935 shares during the period. Gray Television accounts for about 1.2% of Cascade Investment Advisors Inc.’s investment portfolio, making the stock its 22nd largest position. Cascade Investment Advisors Inc.’s holdings in Gray Television were worth $1,327,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of GTN. PNC Financial Services Group Inc. raised its stake in shares of Gray Television by 168.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the company’s stock valued at $155,000 after acquiring an additional 5,542 shares in the last quarter. Virtu Financial LLC acquired a new position in Gray Television in the third quarter worth $180,000. GSA Capital Partners LLP acquired a new position in Gray Television in the third quarter worth $772,000. JPMorgan Chase & Co. boosted its stake in Gray Television by 28.5% in the third quarter. JPMorgan Chase & Co. now owns 508,110 shares of the company’s stock worth $8,891,000 after purchasing an additional 112,742 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Gray Television in the third quarter worth $552,000. 76.72% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have commented on GTN. ValuEngine raised Gray Television from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Zacks Investment Research raised Gray Television from a “sell” rating to a “hold” rating in a research note on Thursday, March 7th. Stephens reissued an “overweight” rating and issued a $27.00 price objective on shares of Gray Television in a research note on Friday, March 1st. Noble Financial reissued a “buy” rating and issued a $23.00 price objective on shares of Gray Television in a research note on Friday, March 1st. Finally, Barrington Research reissued a “buy” rating and issued a $23.00 price objective on shares of Gray Television in a research note on Thursday, February 28th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $24.29.
Gray Television (NYSE:GTN) last released its quarterly earnings data on Thursday, February 28th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.08. Gray Television had a return on equity of 20.07% and a net margin of 19.44%. On average, equities research analysts predict that Gray Television, Inc. will post 1.47 EPS for the current year.
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About Gray Television
Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 28, 2019, it owned and operated television stations in 91 television markets broadcasting approximately 400 program streams, including approximately 150 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.
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