The stock of Gray Television, Inc. (NYSE:GTN) hit a new 52-week low and has $8.17 target or 5.00% below today’s $8.60 share price. The 5 months bearish chart indicates high risk for the $609.33 million company. The 1-year low was reported on Nov, 1 by Barchart.com. If the $8.17 price target is reached, the company will be worth $30.47 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 241,749 shares traded hands. Gray Television, Inc. (NYSE:GTN) has declined 25.59% since March 30, 2016 and is downtrending. It has underperformed by 28.60% the S&P500.
Gray Television, Inc. (NYSE:GTN) Ratings Coverage
Out of 2 analysts covering Gray Television (NYSE:GTN), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Gray Television has been the topic of 2 analyst reports since November 18, 2015 according to StockzIntelligence Inc. Singular Research initiated the stock with “Buy” rating in Monday, December 7 report. On Wednesday, November 18 the stock rating was initiated by Stephens with “Overweight”.
According to Zacks Investment Research, “Gray Television is a communications company headquartered in Atlanta, Georgia, and currently operates 15 CBS-affiliated television stations, seven NBC-affiliated television stations, seven ABC-affiliated television stations and four daily newspapers.”
Insitutional Activity: The institutional sentiment decreased to 0.88 in 2016 Q2. Its down 0.39, from 1.27 in 2016Q1. The ratio worsened, as 26 funds sold all Gray Television, Inc. shares owned while 55 reduced positions. 14 funds bought stakes while 57 increased positions. They now own 53.75 million shares or 1.99% less from 54.84 million shares in 2016Q1.
The United Kingdom-based Blackrock Gp has invested 0% in Gray Television, Inc. (NYSE:GTN). Gilman Hill Asset Mgmt Ltd has 24,464 shares for 0.11% of their US portfolio. Alliancebernstein L P owns 80,400 shares or 0% of their US portfolio. Blackrock Llc holds 0% or 135,820 shares in its portfolio. Clarivest Asset Mngmt Ltd Limited Liability Company holds 0.02% or 76,291 shares in its portfolio. Dimensional Fund Advsrs L P accumulated 5.62 million shares or 0.04% of the stock. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Mngmt accumulated 0.01% or 98,885 shares. Moreover, Gsa Capital Partners Limited Liability Partnership has 0.05% invested in Gray Television, Inc. (NYSE:GTN) for 79,567 shares. Balyasny Asset Mgmt Ltd Liability Com has invested 0% of its portfolio in Gray Television, Inc. (NYSE:GTN). Act Ii Mngmt Ltd Partnership holds 473,204 shares or 4.08% of its portfolio. Kennedy Inc accumulated 139,393 shares or 0.03% of the stock. Penn Capital Management last reported 1.36% of its portfolio in the stock. 1St Global Advsr has invested 0.04% of its portfolio in Gray Television, Inc. (NYSE:GTN). The Pennsylvania-based Pnc Gp Incorporated has invested 0% in Gray Television, Inc. (NYSE:GTN). Panagora Asset Mgmt owns 1,305 shares or 0% of their US portfolio.
More recent Gray Television, Inc. (NYSE:GTN) news were published by: Fool.com which released: “Why Gray Television, Inc. Shares Popped Today” on August 04, 2016. Also Prnewswire.com published the news titled: “Gray Television Announces Pricing Of $525.0 Million Of 5.125% Senior Notes Due …” on September 07, 2016. Prnewswire.com‘s news article titled: “Gray Television Announces Closing Of Offering Of $525.0 Million Of 5.125 …” with publication date: September 14, 2016 was also an interesting one.
GTN Company Profile
Gray Television, Inc., incorporated on January 25, 1897, is a television broadcast company. The Firm owns and operates television stations and digital assets in markets across the United States. The Firm owns and/or operates television stations in approximately 50 television markets broadcasting over 180 separate programming streams, including approximately 40 affiliates of the CBS Network (CBS), over 30 affiliates of the NBC Network (NBC), approximately 20 affiliates of the ABC Network (ABC) and over 10 affiliates of the FOX Network (FOX). Along with primary broadcast channels, the Company can also broadcast secondary digital channels within a market.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.