Principal Financial Group Inc. raised its stake in Gray Television, Inc. (NYSE:GTN) by 293.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,049 shares of the company’s stock after buying an additional 32,105 shares during the period. Principal Financial Group Inc. owned 0.06% of Gray Television worth $590,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GTN. FMR LLC boosted its position in Gray Television by 23.6% in the first quarter. FMR LLC now owns 3,858,697 shares of the company’s stock valued at $55,951,000 after buying an additional 737,600 shares in the last quarter. Gotham Asset Management LLC boosted its position in Gray Television by 336.6% in the first quarter. Gotham Asset Management LLC now owns 362,867 shares of the company’s stock valued at $5,262,000 after buying an additional 279,753 shares in the last quarter. SkyTop Capital Management LLC boosted its position in Gray Television by 60.0% in the first quarter. SkyTop Capital Management LLC now owns 650,000 shares of the company’s stock valued at $9,425,000 after buying an additional 243,814 shares in the last quarter. Boston Partners acquired a new stake in Gray Television in the second quarter valued at approximately $2,913,000. Finally, Prudential Financial Inc. boosted its position in Gray Television by 91.5% in the second quarter. Prudential Financial Inc. now owns 322,780 shares of the company’s stock valued at $4,423,000 after buying an additional 154,240 shares in the last quarter. Hedge funds and other institutional investors own 81.35% of the company’s stock.

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Gray Television, Inc. (NYSE GTN) opened at 15.40 on Friday. Gray Television, Inc. has a 1-year low of $7.00 and a 1-year high of $16.70. The stock’s 50 day moving average is $14.76 and its 200 day moving average is $14.04. The company has a market cap of $1.10 billion, a P/E ratio of 9.58 and a beta of 3.25.

Gray Television (NYSE:GTN) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. Gray Television had a net margin of 13.38% and a return on equity of 17.32%. The company had revenue of $226.70 million during the quarter, compared to analysts’ expectations of $221.05 million. During the same quarter in the prior year, the company earned $0.24 EPS. The firm’s revenue was up 15.3% on a year-over-year basis. Equities analysts anticipate that Gray Television, Inc. will post $1.61 earnings per share for the current fiscal year.

A number of brokerages have weighed in on GTN. Zacks Investment Research upgraded shares of Gray Television from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Thursday, September 21st. BidaskClub raised shares of Gray Television from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. Wells Fargo & Company reaffirmed an “outperform” rating and set a $18.00 price target (up previously from $15.50) on shares of Gray Television in a research note on Thursday, August 10th. Royal Bank Of Canada set a $16.00 price target on shares of Gray Television and gave the company a “buy” rating in a research note on Tuesday, July 18th. Finally, Benchmark Co. raised their price target on shares of Gray Television from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Gray Television has an average rating of “Buy” and an average price target of $17.80.

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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