Channing Capital Management LLC has recently announced that it has increased stake in Gray Television Inc. (NYSE:GTN) by 4.47%. After grabbing 4.71 million shares, the institutional investor is now in possession of 0.2 million shares of the Communication Services Company. The new investment brought the stake of investor firm to 5.50% having worth around $36.28 million. Moreover, The Vanguard Group, Inc. increased its share by 0.15 million to have a control over 4.69 million shares. And The Baupost Group LLC raised its holdings to 0.25 million shares by acquiring 3.76 million shares or 4.40% of the stake.
Gray Television Inc. (GTN) concluded trading on 05/24/23 at a closing price of $7.61, with 0.96 million shares of worth about $7.33 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -29.60% during that period and on Wednesday the price saw a loss of about -4.40%. Currently the company’s common shares owned by public are about 92.00M shares, out of which, 75.89M shares are available for trading.
25-cent Stock Takes $11T Commodities Sector Digital
One brilliantly-run technology firm has successfully partnered with some of the largest players in the industry to bring a first-of-its-kind digital solution to the global commodities supply chain sector. Best of all, this upstart technology firm is currently trading undiscovered — below 25-cents per share — so very, very few investors know about it yet! For investors… it's an early-stage opportunity in a company that's bringing the US$11T global commodities sector straight into the 21st century.
All the details are in the FREE online report you can get here.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 8 analysts are covering the GTN stock and their offered price forecasts bring an average price target of $13.38. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $20.00 and could fall to a lowest price of $5.00. The stock’s current price level is 45.17% above of average price target set by the analysts, while a rise to estimated low would result in loss of -52.2% for the stock. However, touching the estimated high of $20.00 would mean a gain of 61.95% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 23 times over the past 12 months. They bought 1,467,628 shares in 9 of the transactions. In 14 selling transactions, insiders dumped 253,996 shares.
Vanguard Total Stock Market ETF, DFA US Small Cap Value Portfolio, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Gray Television Inc. Vanguard Total Stock Market ETF is currently holding 2.62 million shares of worth totaling $20.22 million. The company recently came buying 92600.0 shares which brought its stake up to 3.07% of the company’s outstanding shares. DFA US Small Cap Value Portfolio sold 1958.0 shares, after which its hold over company’s outstanding shares shrunk to 2.35%, leaving 2.01 million shares with the mutual fund that have a worth of about $15.5 million. iShares Russell 2000 ETF, after selling 1.75 million shares, have now control over 2.05% of the stake in the company. It holds 25600.0 shares of worth $13.5 million.
Gray Television Inc. (NYSE: GTN) started trading at $7.85, below -$0.11 from concluding price of the previous day. However, the stock later moved at a day high price of 7.97, or with a loss of -4.40%. Stock saw a price change of -5.93% in past 5 days and over the past one month there was a price change of 1.06%. Year-to-date (YTD), GTN shares are showing a performance of -31.99% which decreased to -62.03% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $6.50 but also hit the highest price of $20.83 during that period. The average intraday trading volume for Gray Television Inc. shares is 1.18 million. The stock is currently trading 1.29% above its 20-day simple moving average (SMA20), while that difference is down -5.80% for SMA50 and it goes to -38.62% lower than SMA200.
Channing Capital Management LLC acquired 4.71 million shares of Gray Television Inc. having value of about $36.28 million. Data submitted at the U.S SEC by Channing Capital Management LLC revealed that the firm now holds 0.2 million shares in the company valued at close to $1532068.03, or have control over 4.47% stake in the company. Gray Television Inc. (NYSE: GTN) currently have 92.00M outstanding shares and institutions hold larger chunk of about 91.40% of that. Holding of mutual funds in the company is about 35.88% while other institutional holders and individual stake holders have control over 54.40% and 13.95% of the stake respectively.
The stock has a current market capitalization of $746.31M and its 3Y-monthly beta is at 1.54. PE ratio of stock for trailing 12 months is 2.29, while it has posted earnings per share of $3.33 in the same period. Its PEG reads 0.06 and has Quick Ratio of 1.30 while making debt-to-equity ratio of 2.99. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GTN, volatility over the week remained 4.81% while standing at 6.12% over the month.
Analysts are in expectations that Gray Television Inc. (GTN) stock would likely to be making an EPS of -$0.18 in the current quarter, while forecast for next quarter EPS is -$0.04 and it is $4.58 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.28 which is -$0.04 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.91 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 983.30% while it is estimated to increase by 1422.90% in next year. EPS is likely to grow at an annualized rate of 36.90% for next 5-years, compared to annual growth of 22.50% made by the stock over the past 5-years.
Analysts at 8 brokerage firms have issued recommendations for the Gray Television Inc. (GTN)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.40. Out of those 8 Wall Street analysts, 5 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 2 analyst recommended the stock as “Sell”.
Leave a Reply