Gray Television, Inc. (GTN) Stock: A Look at the Analyst Recommendations

GTN has 36-month beta value of 1.56. Analysts have mixed views on the stock, with 2 analysts rating it as a “buy,” 5 as “overweight,” 0 as “hold,” and 0 as “sell.”

The public float for GTN is 82.22M, and currently, short sellers hold a 6.44% ratio of that float. The average trading volume of GTN on April 04, 2024 was 1.20M shares.

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GTN) stock’s latest price update

Gray Television, Inc. (NYSE: GTN)’s stock price has plunge by 4.15relation to previous closing price of 6.02. Nevertheless, the company has seen a 4.15% surge in its stock price over the last five trading sessions. Seeking Alpha reported 2024-04-02 that Gray Television is the second largest local television broadcaster in the US, with stations in 114 markets. My speculative buy thesis is based on America’s increasing political divide and the potential for record-high political ad spending in the 2024 election cycle. Provided we get a normal ad cycle, GTN should be able to generate hundreds of millions in free cash flow that can go towards reducing debt and improving equity valuations.

GTN’s Market Performance

Gray Television, Inc. (GTN) has experienced a 4.15% rise in stock performance for the past week, with a 11.57% rise in the past month, and a -31.33% drop in the past quarter. The volatility ratio for the week is 4.44%, and the volatility levels for the past 30 days are at 3.92% for GTN. The simple moving average for the last 20 days is 6.33% for GTN stock, with a simple moving average of -19.01% for the last 200 days.

Analysts’ Opinion of GTN

Wells Fargo, on the other hand, stated in their research note that they expect to see GTN reach a price target of $7, previously predicting the price at $25. The rating they have provided for GTN stocks is “Underweight” according to the report published on November 09th, 2022.

Wells Fargo gave a rating of “Overweight” to GTN, setting the target price at $26 in the report published on January 03rd of the previous year.

GTN Trading at -13.10% from the 50-Day Moving Average

After a stumble in the market that brought GTN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -41.35% of loss for the given period.

Volatility was left at 3.92%, however, over the last 30 days, the volatility rate increased by 4.44%, as shares surge +11.76% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -33.16% lower at present.

During the last 5 trading sessions, GTN rose by +4.15%, which changed the moving average for the period of 200-days by -16.40% in comparison to the 20-day moving average, which settled at $5.93. In addition, Gray Television, Inc. saw -30.02% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at GTN starting from Howell Robin Robinson, who purchase 10,000 shares at the price of $8.09 back on Mar 28 ’24. After this action, Howell Robin Robinson now owns 2,982,386 shares of Gray Television, Inc., valued at $80,934 using the latest closing price.

HOWELL HILTON H JR, the Chairman, President & CEO of Gray Television, Inc., purchase 10,000 shares at $8.09 during a trade that took place back on Mar 28 ’24, which means that HOWELL HILTON H JR is holding 2,982,386 shares at $80,934 based on the most recent closing price.

Stock Fundamentals for GTN

Current profitability levels for the company are sitting at:

  • 0.12 for the present operating margin
  • 0.25 for the gross margin

The net margin for Gray Television, Inc. stands at -0.02. The total capital return value is set at 0.04. Equity return is now at value -2.82, with -0.69 for asset returns.

Based on Gray Television, Inc. (GTN), the company’s capital structure generated 0.7 points at debt to capital in total, while cash flow to debt ratio is standing at 0.11. The debt to equity ratio resting at 2.35. The interest coverage ratio of the stock is 0.87.

Currently, EBITDA for the company is 787.0 million with net debt to EBITDA at 8.05. When we switch over and look at the enterprise to sales, we see a ratio of 2.09. The receivables turnover for the company is 9.04for trailing twelve months and the total asset turnover is 0.3. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.18.

Conclusion

To put it simply, Gray Television, Inc. (GTN) has had a mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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