Phoenix Investment Adviser buys $1,554,800 stake in Gray Television (GTN)

Gray Television (GTN) : Phoenix Investment Adviser scooped up 10,000 additional shares in Gray Television during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 13, 2016. The investment management firm now holds a total of 130,000 shares of Gray Television which is valued at $1,554,800.Gray Television makes up approximately 1.94% of Phoenix Investment Adviser’s portfolio.

Gray Television opened for trading at $11.86 and hit $12.17 on the upside on Monday, eventually ending the session at $12.13, with a gain of 1.42% or 0.17 points. The heightened volatility saw the trading volume jump to 4,19,695 shares. Company has a market cap of $882 M.

Other Hedge Funds, Including , 1st Global Advisors boosted its stake in GTN in the latest quarter, The investment management firm added 1,465 additional shares and now holds a total of 18,164 shares of Gray Television which is valued at $217,241. Gray Television makes up approx 0.03% of 1st Global Advisors’s portfolio.Creative Planning boosted its stake in GTN in the latest quarter, The investment management firm added 775 additional shares and now holds a total of 1,300 shares of Gray Television which is valued at $15,080. Eagle Asset Management Inc added GTN to its portfolio by purchasing 252,787 company shares during the most recent quarter which is valued at $2,932,329. Gray Television makes up approx 0.02% of Eagle Asset Management Inc’s portfolio.

On the company’s financial health, Gray Television reported $0.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Feb 26, 2016. Analyst had a consensus of $0.20. The company had revenue of $169.49 million for the quarter, compared to analysts expectations of $163.13 million. The company’s revenue was down -4.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.53 EPS.

Gray Television Inc. (Gray) is a broadcast company which owns and/or operates television stations and digital assets in markets throughout the United States. 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). 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. Gray reaches approximately 8.1% of total United States television households.

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