Gray Television Inc. (NYSE: GTN) is -36.01% lower on its value in year-to-date trading and has touched a low of $6.50 and a high of $20.83 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The GTN stock was last observed hovering at around $7.61 in the last trading session, with the day’s loss setting it -0.45% off its average median price target of $13.50 for the next 12 months. It is also 64.2% off the consensus price target high of $20.00 offered by 8 analysts, but current levels are -43.2% lower than the price target low of $5.00 for the same period.
Currently trading at $7.16, the stock is -4.80% and -10.98% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.08 million and changing -5.91% at the moment leaves the stock -41.99% off its SMA200. GTN registered -62.43% loss for a year compared to 6-month loss of -33.46%. The firm has a 50-day simple moving average (SMA 50) of $2.13 and a 200-day simple moving average (SMA200) of $6.23.
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The stock witnessed a -3.89% gain in the last 1 month and extending the period to 3 months gives it a -41.31%, and is -11.50% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.48% over the week and 6.25% over the month.
Gray Television Inc. (GTN) has around 8942 employees, a market worth around $702.18M and $3.65B in sales. Current P/E ratio is 2.15 and Fwd P/E is 1.54. Profit margin for the company is 8.50%. Distance from 52-week low is 10.15% and -65.63% from its 52-week high. The company has generated returns on investments over the last 12 months (9.50%).
Gray Television Inc. (GTN) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Gray Television Inc. (GTN) is a “Overweight”. 8 analysts offering their recommendations for the stock have an average rating of 2.40, where 1 rate it as a Hold and 0 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.
Gray Television Inc. is expected to release its quarterly report on 08/09/2023.The EPS is expected to grow by 983.30% this year
Gray Television Inc. (GTN) Top Institutional Holders
The shares outstanding are 92.00M, and float is at 75.89M with Short Float at 6.72%.
Gray Television Inc. (GTN) Insider Activity
A total of 20 insider transactions have happened at Gray Television Inc. (GTN) in the last six months, with sales accounting for 14 and purchases happening 6 times. The most recent transaction is an insider sale by ELDER T L, the company’s Director Emeritus. SEC filings show that ELDER T L sold 2,075 shares of the company’s common stock on May 15 at a price of $7.76 per share for a total of $16102.0. Following the sale, the insider now owns 45163.0 shares.
Gray Television Inc. disclosed in a document filed with the SEC on Dec 19 that ROBINSON HARRIETT J (10% Owner) bought a total of 68,750 shares of the company’s common stock. The trade occurred on Dec 19 and was made at $17.82 per share for $1.23 million. Following the transaction, the insider now directly holds 1.04 million shares of the GTN stock.
Still, SEC filings show that on Dec 19, ROBINSON HARRIETT J (10% Owner) disposed off 68,750 shares at an average price of $17.82 for $1.23 million. The insider now directly holds 0 shares of Gray Television Inc. (GTN).
Gray Television Inc. (GTN): Who are the competitors?
The company’s main competitors (and peers) include Entravision Communications Corporation (EVC) that is trading -13.99% down over the past 12 months and Nexstar Media Group Inc. (NXST) that is -5.37% lower over the same period. The E.W. Scripps Company (SSP) is -45.03% down on the 1-year trading charts.