United Asset Strategies buys $4,173,070 stake in Gray Television (GTN)

Gray Television (GTN) : United Asset Strategies scooped up 327,497 additional shares in Gray Television during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 417,307 shares of Gray Television which is valued at $4,173,070.Gray Television makes up approximately 1.51% of United Asset Strategies’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System boosted its stake in GTN in the latest quarter, The investment management firm added 758 additional shares and now holds a total of 134,485 shares of Gray Television which is valued at $1,344,850.Clarivest Asset Management boosted its stake in GTN in the latest quarter, The investment management firm added 10,200 additional shares and now holds a total of 76,291 shares of Gray Television which is valued at $755,281. Gray Television makes up approx 0.02% of Clarivest Asset Management’s portfolio.Advisory Services Network boosted its stake in GTN in the latest quarter, The investment management firm added 5,730 additional shares and now holds a total of 56,580 shares of Gray Television which is valued at $582,208. Gray Television makes up approx 0.13% of Advisory Services Network’s portfolio.1st Global Advisors boosted its stake in GTN in the latest quarter, The investment management firm added 5,598 additional shares and now holds a total of 23,762 shares of Gray Television which is valued at $263,758. Gray Television makes up approx 0.04% of 1st Global Advisors’s portfolio.Eagle Asset Management Inc boosted its stake in GTN in the latest quarter, The investment management firm added 67,295 additional shares and now holds a total of 320,082 shares of Gray Television which is valued at $3,600,923. Gray Television makes up approx 0.02% of Eagle Asset Management Inc’s portfolio.

Gray Television opened for trading at $10.25 and hit $11.22 on the upside on Thursday, eventually ending the session at $11.1, with a gain of 11.00% or 1.1 points. The heightened volatility saw the trading volume jump to 27,58,973 shares. Company has a market cap of $807 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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