Gray Television, Inc. (NYSE:GTN) is one of the stocks that are taking the center stage today as the company shares are trading 3.26% or 0.65 points higher from last closing price of $19.95, reaching $20.6 at last check. So what’s going on with GTN shares anyway? The price has risen in 1 of the last 5 days and is up 35.62% over the past week. It will be exciting to see whether the stock manages to continue increasing or take a minor break for the next few days. The move came on weak volume too with far less shares changing hands than in a normal session. Trading activity as of this writing weakened by -520,136 shares, and in total 284264 shares valued at $5.856 million were seen changing hands compared with 804400 shares valued at $16.048 million recorded at the previous session. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes in GTN stock for the next couple of days.
Gray Television, Inc. (GTN) shares have notched a 3-month gain of about 35.62%, but has still advanced 35.35% year to date. By comparison, the stock added 7.9% over the past 12 months, while it jumped 18.54% over the 1 month. The company’s market cap is around $2.03B, with its short interest ratio standing at 5.87%.
In the current trading session for GTN, the stock witnessed two major price actions, it rose to a high of $20.67 and was down as much as $20.01 at one point. The high recorded is very low when compared to their 52-week high which is $13.6. The 52-week high is now at -18.49 distance from current price. Their recent low of $25.31 represents a 51.69% recovery. This data is quite important for investors who look to benefit from the recent rise of the company’s stock. The price target currently for GTN is $25.14, this is below the recent high that the stock attained. Taking a look at the overall sentimental views of financial analysts, the trading pattern of this stock recently is very clear.
The stock of Gray Television, Inc. earned $1.45 per share in the trailing 12 months and has a P/E ratio of 14.21. You can compare it with that of similar companies in its industry to get a sense of whether the stock you’re looking to purchase is overvalued or undervalued. Its current price to earnings ratio is lower than the ones recorded by the industry which is 26.76 and lower compared to the sector’s average of 36.35. When the P/E ratio is low let’s say below 1.0, then the stock price is considered a good value. GTN also has P/S multiple of 1.12. This is greater versus the 12 month P/S ratios of other companies in the same indutry. The peer average price to sales ratio is 0.46x.
GTN‘s last price was up 11.86% as compared to the average trading price of 50 days recorded at $18.42 while enlarging the period to 200 trading days, the average closing price was $17.41. At present, there are 101.77 million in the total number of common shares owned by the public and among those 90.32 million shares have been available to trade. The percentage of shares being held by the company management was 1.5% while institutions stake was 94.8%. The company has generated positive returns on equity over the last 12 months (10.2%). It managed to keep its gross profit margin at 35.7% over the past 12 months.
When assessing the full upside of the GTN stock, there is another set of technicals that should be looked into and considered. Its 5.78% gain from moving average of $19.47 has brought about a positive sentiment when calculated over the last 20 days. The market has allocated a beta of 2.11 to the stock. With the beta been greater than one, this implies that the company shares are theoretically more volatile than the market, something that the traders definitely are keeping an eye on.
Most of the analysts surveyed by Thomson/First Call think quite highly of Gray Television, Inc. — 6 analysts rate the stock as a buy with another 0 rating it strong buy. There are 0 analysts who maintain a hold rating for the stock, with 0 giving it a sell rating. Analysts arrived at a 12-month price target of $24.25 on shares of Gray Television, Inc. (NYSE:GTN), which corresponds to 17.60% upside potential than its current market price of $20.6 and implies potential despite the recent advance in the price. However, their current target price has fallen from $25.2 a month ago and is down handily from the consensus target of $26.25 a quarter ago.
In the last five years, the EPS of the company has been roughly 49.7%. Though the percentage looks encouraging, extra tailwinds are emerging as looking out over a next 5-year period, with analysts estimating that their earnings will increase annually by 10%. The revenue of the company has risen at an average annualized rate of about 25.6 over the last five years. The company recently recorded an increase of 85.1%, but this figure is rather attractive.
Let’s briefly check the hedge fund interest towards GTN stock. Metropolitan Life Insurance Co NY added position in the company after it grew 14.8% or 25,902 shares of its common stock. The hedge fund now owns 29,736 shares worth $612,562, SEC documents show. Man Group plc cut assets in the stock as 203445.8 shares have been sold, reducing its stake by -83.4% to 33,772 shares which are currently valued at $695,703. In addition, Granahan Investment Management Inc. MA recently reported that it now owns 241,218 shares making a total of $4,969,091 based on the recent price. This refelects a change of 837.9% in their ownership.