Gray Television, Inc. (NYSE:GTN – Get Free Report) was the target of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 6,000,000 shares, a growth of 15.8% from the November 15th total of 5,180,000 shares. Based on an average daily volume of 1,230,000 shares, the days-to-cover ratio is currently 4.9 days. Currently, 7.3% of the shares of the stock are short sold.

Analyst Ratings Changes

Several research firms have recently commented on GTN. StockNews.com upgraded shares of Gray Television to a “sell” rating in a research report on Thursday. Wells Fargo & Company decreased their target price on shares of Gray Television from $7.00 to $6.00 and set an “underweight” rating on the stock in a research report on Thursday, November 9th. Finally, TheStreet lowered shares of Gray Television from a “c” rating to a “d+” rating in a research report on Friday, November 10th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Gray Television has a consensus rating of “Hold” and a consensus target price of $12.60.

Check Out Our Latest Stock Analysis on GTN

Gray Television Trading Down 1.6 %

Shares of GTN traded down $0.14 during mid-day trading on Friday, reaching $8.76. The company had a trading volume of 1,579,331 shares, compared to its average volume of 1,045,209. The stock has a market cap of $836.23 million, a price-to-earnings ratio of 12.00 and a beta of 1.70. The firm has a fifty day simple moving average of $7.31 and a 200-day simple moving average of $7.73. Gray Television has a fifty-two week low of $5.97 and a fifty-two week high of $14.40. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 3.08.

Gray Television (NYSE:GTN – Get Free Report) last announced its quarterly earnings results on Wednesday, November 8th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.26). The company had revenue of $803.00 million during the quarter, compared to analyst estimates of $798.46 million. Gray Television had a net margin of 3.41% and a return on equity of 5.78%. The firm’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 EPS. On average, sell-side analysts anticipate that Gray Television will post -1.37 EPS for the current fiscal year.

Gray Television Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date is Thursday, December 14th. Gray Television’s dividend payout ratio is presently 43.84%.

Institutional Investors Weigh In On Gray Television

Institutional investors have recently modified their holdings of the business. Dark Forest Capital Management LP grew its position in shares of Gray Television by 818.7% during the 1st quarter. Dark Forest Capital Management LP now owns 16,959 shares of the company’s stock valued at $148,000 after buying an additional 15,113 shares during the last quarter. Fractal Investments LLC bought a new position in Gray Television in the 2nd quarter worth about $102,000. Skylands Capital LLC grew its position in Gray Television by 5.3% in the 2nd quarter. Skylands Capital LLC now owns 286,100 shares of the company’s stock worth $2,254,000 after purchasing an additional 14,450 shares during the last quarter. Barclays PLC grew its position in Gray Television by 91.8% in the 1st quarter. Barclays PLC now owns 42,274 shares of the company’s stock worth $369,000 after purchasing an additional 20,231 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Gray Television in the 2nd quarter worth about $258,000. Institutional investors own 77.01% of the company’s stock.

Gray Television Company Profile (Get Free Report)

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, Circle, Antenna TV, Telemundo, and Cozi; and local news/weather channels in various markets.

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Original: MarketBeat News Feed: Short Interest in Gray Television, Inc. (NYSE:GTN) Expands By 15.8%