The stock of Gray Television, Inc. (NYSE:GTN) hit a new 52-week low and has $6.88 target or 7.00% below today’s $7.40 share price. The 7 months bearish chart indicates high risk for the $537.35M company. The 1-year low was reported on Nov, 8 by Barchart.com. If the $6.88 price target is reached, the company will be worth $37.61 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 1.33M shares traded hands or 52.55% up from the average. Gray Television, Inc. (NYSE:GTN) has declined 30.47% since April 5, 2016 and is downtrending. It has underperformed by 32.43% 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. The firm has “Buy” rating given on Monday, December 7 by Singular Research. Stephens initiated it with “Overweight” rating and $22 target price in Wednesday, November 18 report.
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 Q2 2016. Its down 0.39, from 1.27 in 2016Q1. The ratio dived, 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.
Whetstone Advisors Limited Liability Corp accumulated 1.29M shares or 8.25% of the stock. Manufacturers Life Insurance The has 0% invested in the company for 44,700 shares. The Ontario – Canada-based Royal Natl Bank Of Canada has invested 0% in Gray Television, Inc. (NYSE:GTN). Dupont Management last reported 100,040 shares in the company. Act Ii Management Lp has 4.08% invested in the company for 473,204 shares. The United Kingdom-based Barclays Pcl has invested 0% in Gray Television, Inc. (NYSE:GTN). First Mercantile Trust accumulated 15,300 shares or 0.02% of the stock. Stephens Ar holds 72,926 shares or 0.04% of its portfolio. Kings Point Capital Management holds 0% or 925 shares in its portfolio. Cipher Cap Limited Partnership last reported 0.1% of its portfolio in the stock. California Public Employees Retirement System has invested 0% of its portfolio in Gray Television, Inc. (NYSE:GTN). Amer Century last reported 1.15M shares in the company. Raymond James And Assoc accumulated 0% or 84,177 shares. Blackrock last reported 9,627 shares in the company. Peak6 L P holds 0% of its portfolio in Gray Television, Inc. (NYSE:GTN) for 18,156 shares.
More recent Gray Television, Inc. (NYSE:GTN) news were published by: Streetinsider.com which released: “Gray Television (GTN) Announces $75M Stock Buyback” on November 08, 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.
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