Whetstone Capital Advisors Lowers stake in Gray Television (GTN)

Gray Television (GTN) : Whetstone Capital Advisors reduced its stake in Gray Television by 17.64% during the most recent quarter end. The investment management company now holds a total of 1,456,507 shares of Gray Television which is valued at $16,181,793 after selling 311,857 shares in Gray Television , the firm said in a disclosure report filed with the SEC on May 9, 2016.Gray Television makes up approximately 15.92% of Whetstone Capital Advisors’s portfolio.

Other Hedge Funds, Including , Engineers Gate Manager Lp sold out all of its stake in GTN during the most recent quarter. The investment firm sold 75,842 shares of GTN which is valued $842,605.Stephens Inc Ar boosted its stake in GTN in the latest quarter, The investment management firm added 1,714 additional shares and now holds a total of 77,976 shares of Gray Television which is valued at $1,063,593. Gray Television makes up approx 0.05% of Stephens Inc Ar’s portfolio.Princeton Alpha Management Lp boosted its stake in GTN in the latest quarter, The investment management firm added 18,850 additional shares and now holds a total of 29,282 shares of Gray Television which is valued at $399,406. Gray Television makes up approx 0.06% of Princeton Alpha Management Lp’s portfolio.Emerald Advisers Incpa reduced its stake in GTN by selling 567 shares or 0.83% in the most recent quarter. The Hedge Fund company now holds 67,971 shares of GTN which is valued at $873,427. Gray Television makes up approx 0.04% of Emerald Advisers Incpa’s portfolio.

Gray Television closed down -0.25 points or -2.20% at $11.11 with 8,42,989 shares getting traded on Friday. Post opening the session at $11.29, the shares hit an intraday low of $10.99 and an intraday high of $11.34 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Gray Television reported $0.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on May 9, 2016. Analyst had a consensus of $0.12. The company had revenue of $173.70 million for the quarter, compared to analysts expectations of $174.97 million. The company’s revenue was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 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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