Worth Watching: Is Gray Television, Inc. a Sell? The Stock Declines Again

Worth Watching: Is Gray Television, Inc. a Sell? The Stock Declines Again

The stock of Gray Television, Inc. (NYSE:GTN) is a huge mover today! About 3.16 million shares traded hands or 262.46% up from the average. Gray Television, Inc. (NYSE:GTN) has declined 31.15% since April 6, 2016 and is downtrending. It has underperformed by 33.11% the S&P500.
The move comes after 5 months negative chart setup for the $535.46 million company. It was reported on Nov, 8 by Barchart.com. We have $6.72 PT which if reached, will make NYSE:GTN worth $42.84 million less.

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 “Overweight” rating given on Wednesday, November 18 by Stephens. The rating was initiated by Singular Research on Monday, December 7 with “Buy”.

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.
First Trust Advisors L P has invested 0% of its portfolio in Gray Television, Inc. (NYSE:GTN). Moreover, Peak6 Invests L P has 0% invested in Gray Television, Inc. (NYSE:GTN) for 18,156 shares. The Ontario – Canada-based Bank Of Montreal Can has invested 0.01% in Gray Television, Inc. (NYSE:GTN). Phoenix Invest Adviser last reported 1.18% of its portfolio in the stock. Parametric Portfolio Assocs Limited Liability accumulated 106,461 shares or 0% of the stock. Scopus Asset Mngmt Limited Partnership owns 603,008 shares or 0.09% of their US portfolio. Signalpoint Asset Mgmt Ltd Liability has 0.2% invested in the company for 45,268 shares. Intll Grp last reported 36,920 shares in the company. Wellington Shields Management Ltd Com holds 0.09% or 49,500 shares in its portfolio. Moreover, Suntrust Banks Inc has 0% invested in Gray Television, Inc. (NYSE:GTN) for 12,463 shares. Camarda Financial Limited Liability Com has 0.78% invested in the company for 112,917 shares. Moreover, Columbus Circle Investors has 0.08% invested in Gray Television, Inc. (NYSE:GTN) for 761,056 shares. Whetstone Capital Advsrs holds 8.25% or 1.29 million shares in its portfolio. Northern Tru Corp accumulated 0% or 784,151 shares. Millennium Mgmt accumulated 370,960 shares or 0.01% of the stock.

More important recent Gray Television, Inc. (NYSE:GTN) news were published by: Prnewswire.com which released: “Gray Reports Record Operating Results Despite Disappointing Political Revenue” on November 08, 2016, also Prnewswire.com published article titled: “Gray Television Announces Pricing Of $525.0 Million Of 5.125% Senior Notes Due …”, Prnewswire.com published: “Gray Television Announces Closing Of Offering Of $525.0 Million Of 5.125 …” on September 14, 2016. More interesting news about Gray Television, Inc. (NYSE:GTN) was released by: Prnewswire.com and their article: “Gray Sets Date For Third Quarter Earnings Release And Earnings Conference Call” with publication date: October 27, 2016.

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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