Why Has Singular Research Given Gray Television (NYSE:GTN) a $22 Price Target
Investment analysts at Singular Research began coverage on shares of Gray Television (NYSE:GTN) in a comprehensive report sent to investors on Monday morning. The firm set “Buy” rating on the stock. Singular Research’s target price per share of $22 suggests potential of 33.41% from the stock’s previous close.
Approximately 282,895 shares of stock traded hands. Gray Television, Inc. (NYSE:GTN) has risen 23.15% since May 4, 2015 and is uptrending. It has outperformed by 24.23% the S&P500.
The overall sentiment of institutions has decreased to 1.05 in Q2 2015. Its down 0.65, from 1.7 in 2015Q2. The ratio dived, as 29 institutions have sold all the shares of Gray Television, Inc. that they owned while 54 funds have taken shares off the table. 24 funds have purchased shares for the first time while 63 added to their positions. These institutions now hold 64.55 million shares or 17.20% more than the 55.08 million shares they owned in 2015Q2.
The Fund Whetstone Capital Advisors Llc currently is holding shares equating to 8.82% of its total portfolio in Gray Television, Inc. representing a total of 1.84 million shares. Another fund,Tcs Capital Management Llc, is holding a total of 481,500 shares equating to 4.98% of their holdings. Additionally, Act Ii Management Lp has a 415,100 share stake in Gray Television, Inc. which represents 3.32% of their total portfolio. The Fund, Phoenix Investment Adviser Llc, based out of New York, has also built up a stake in the stock, which represents a total of 1.96% of their total portfolio. Finally Hatteras Funds Llc, a fund which is based in the state of North Carolina reported a total holdings of 99,553 shares.
Insider activity is a very important aspect to track on any stock. Going back to July 16, 2015, shareholders of Gray Television, Inc. have witnessed 0 buys, and a total of 1 insider sale equating to a net activity of approximately $128,405 . Norton Hugh sold 7,500 shares worth approximately $128,405.
Gray Television Inc. is a broadcast company, which owns and/or operates television stations and digital assets in markets throughout the United States. The company has a market cap of $1.20 billion. Gray owns and operates television stations in 44 television markets broadcasting 139 program streams including 76 affiliates of the Big Four networks (ABC, CBS, NBC and FOX). It has 18.55 P/E ratio. Gray’s owned and/or operated stations include 26 channels affiliated with the CBS Network, 24 channels affiliated with the NBC Network, 16 channels affiliated with the ABC Network and 10 channels affiliated with the FOX Network.
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.” Get a free copy of the Zacks research report on Gray Television, Inc. (GTN).