Tcs Capital Management buys $5,403,600 stake in Gray Television (GTN)

Gray Television (GTN) : Tcs Capital Management scooped up 180,500 additional shares in Gray Television during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 474,000 shares of Gray Television which is valued at $5,403,600.Gray Television makes up approximately 2.89% of Tcs Capital Management’s portfolio.

Other Hedge Funds, Including , Teachers Advisors Inc boosted its stake in GTN in the latest quarter, The investment management firm added 42,895 additional shares and now holds a total of 1,107,183 shares of Gray Television which is valued at $12,621,886. Gray Television makes up approx 0.02% of Teachers Advisors Inc’s portfolio.State Board Of Administration Of Florida Retirement System reduced its stake in GTN by selling 3,612 shares or 5.7% in the most recent quarter. The Hedge Fund company now holds 59,710 shares of GTN which is valued at $670,543. Agf Investments sold out all of its stake in GTN during the most recent quarter. The investment firm sold 342,110 shares of GTN which is valued $3,421,100.

Gray Television opened for trading at $11.27 and hit $11.43 on the upside on Thursday, eventually ending the session at $11.24, with a gain of 0.09% or 0.01 points. The heightened volatility saw the trading volume jump to 8,90,872 shares. Company has a market cap of $817 M.

On the company’s financial health, Gray Television reported $0.24 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $0.25. The company had revenue of $196.63 million for the quarter, compared to analysts expectations of $196.22 million. The company’s revenue was up 37.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 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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