In last trading session, Gray Television, Inc. (NYSE:GTN) saw 1.08 million shares changing hands with its beta currently measuring 1.56. Company’s recent per share price level of $5.97 trading at $0.1 or 1.70% at ring of the bell on the day assigns it a market valuation of $580.28M. That closing price of GTN’s stock is at a discount of -79.06% from its 52-week high price of $10.69 and is indicating a premium of 8.88% from its 52-week low price of $5.44. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.44 million shares which gives us an average trading volume of 1.11 million if we extend that period to 3-months.
Gray Television, Inc. (NYSE:GTN) trade information
Upright in the green during last session for gaining 1.70%, in the last five days GTN remained trading in the green while hitting it’s week-highest on Thursday, 03/21/24 when the stock touched $5.97 price level, adding 0.67% to its value on the day. Gray Television, Inc.’s shares saw a change of -33.37% in year-to-date performance and have moved 2.05% in past 5-day. Gray Television, Inc. (NYSE:GTN) showed a performance of -24.24% in past 30-days. Number of shares sold short was 5.5 million shares which calculate 3.79 days to cover the short interests.
Gray Television, Inc. (GTN) estimates and forecasts
Statistics highlight that Gray Television, Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -16.50% of value to its shares in past 6 months, showing an annual growth rate of 371.94% while that of industry is 25.30. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to increase by 87.50% in the current quarter and calculating 240.00% increase in the next quarter. This year revenue growth is estimated to rise 17.80% from the last financial year’s standing.
7 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $824.98 million for the same. And 6 analysts are in estimates of company making revenue of $853.51 million in the next quarter that will end on Jun 2024. Company posted $801 million and $813 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 3.00% while estimating it to be 5.00% for the next quarter.
In 2024, company’s earnings growth rate is likely to be around 367.93% while estimates for its earnings growth in next 5 years are of 36.90%.
GTN Dividends
Gray Television, Inc. is more likely to be releasing its next quarterly report between May 03 and May 07 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Gray Television, Inc. (NYSE:GTN)’s Major holders
Insiders are in possession of 6.15% of company’s total shares while institution are holding 87.69 percent of that, with stock having share float percentage of 93.43%. Investors also watch the number of corporate investors in a company very closely, which is 87.69% institutions for Gray Television, Inc. that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at GTN for having 6.55 million shares of worth $51.63 million. And as of Jun 29, 2023, it was holding 7.51% of the company’s outstanding shares.
The second largest institutional holder is Dimensional Fund Advisors LP, which was holding about 5.16 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 5.91% of outstanding shares, having a total worth of $40.66 million.
On the other hand, Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 2.62 million shares of worth $20.67 million or 3.01% of the total outstanding shares. The later fund manager was in possession of 1.94 million shares on Aug 30, 2023, making its stake of worth around $15.65 million in the company or a holder of 2.23% of company’s stock.
