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Friday, June 2, 2023

Momentum Is Strong For Gray Television Inc. (NYSE: GTN)

After Hours

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. After-hours trades for Gray Television Inc. (GTN) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.02, or 0.29%, to $7.03. The Gray Television Inc. has recorded 15,832 volume in the after hours trading session. Earlier, Yahoo Finance discussed this stock as it revealed GRAY ANNOUNCES QUARTERLY CASH DIVIDEND OF $0.08 PER SHARE.

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Stocks Info

This NYSE-listed company operates within the Broadcasting industry segment, falling under the Communication Services sector. At the end of the last regular session, the stock closed at $7.01 and fluctuated between $7.13 as its day high and $6.50 as its day low. The current market capitalization of Gray Television Inc. is $629.01M. A total of 2.54 million shares were traded on the day, compared to an average of 978.60K shares.

Insider Activity

Insider trades can also provide insight into a stock’s future direction. During the recent three months, GTN has seen 4 BUY and 0 SELL insider trades, representing the acquisition of 1,427,884 and the disposition of 0 shares. Over the last 12 months, there were 10 BUYs and 20 SELLs from insiders. Insiders purchased 1,467,918 shares during that period but sold 331,039.

In the most recent transaction, ROBINSON HARRIETT J bought 68,750 shares of GTN for 17.82 per share on Dec 19. After the transaction, the 10% Owner now owns 1,042,217 company shares. In a previous transaction on Dec 19, ROBINSON HARRIETT J sold 68,750 shares at 17.82 per share. GTN shares that 10% Owner owns now total 0.

Among the insiders who bought shares, BOGER RICHARD LEE acquired of 3,200 shares on Nov 15 at a per-share price of $11.35. This resulted in the Director holding 44,738 shares of GTN after the transaction. In another insider transaction, McTear Paul bought 5,000 shares at $10.41 per share on Nov 11. Company shares held by the Director now total 67,759.


The income generated by dividends is an indication that a company is improving its financial position, which is why investors prefer companies paying dividends. Gray Television Inc. pays an annual dividend of $0.32, resulting in a dividend yield of 4.56%, and it has a price to earnings (P/E) ratio of 1.62. GTN’s most recent ex-dividend date was 6/14/2023 when it declared a $0.08 quarterly dividend that was paid in cash on 6/30/2023. Previously, the company paid the dividend on 3/31/2023 with an ex-dividend date of 3/14/2023. The GTN stock dividend was $0.08 per share in cash.

Even though price targets are rarely accurate, they do tend to exert some kind of influence from time to time and are often considered important by markets. According to analysts who have offered 12-month price targets for GTN in the last 3 months, the mean price target is $14.63 with high estimates of $20.00 and low estimates of $7.00. In terms of 52-week highs and lows, GTN has a high of $20.83 and a low of $6.58.

As of this writing, GTN has an earnings estimate of -$0.26 per share for the current quarter. EPS was calculated based on a consensus of 8 estimates, with a high estimate of -$0.08 per share and a lower estimate of -$0.41. The company reported an EPS of $1.03 in the last quarter, which was -27.00% lower than expectations of $1.41.

Balance Sheet Annually/Quarterly

In a balance sheet, you can see what assets and liabilities the company has, as well as how much equity investors have invested. These figures can be used to calculate a company’s financial ratios to give investors a better idea of its prospects. GTN’s latest balance sheet shows that the firm has $189.00M in Cash & Short Term Investments as of fiscal 2021. There were $6.83B in debt and $384.00M in liabilities at the time. Its Book Value Per Share was $23.78, while its Total Shareholder’s Equity was $2.41B.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for GTN is Buy with a score of 3.50.

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