Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Gray Television Inc. shares valued at $1,225,350 were purchased by ROBINSON HARRIETT J on Dec 19. At $17.82 per share, ROBINSON HARRIETT J acquired 68,750 shares. The insider’s holdings grew to 1,042,217 shares worth approximately $11.99 million following the completion of this transaction.
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Also, ROBINSON HARRIETT J sold 68,750 shares, netting a total of over 1,225,350 in proceeds. Following the sale of shares at $17.82 each, the insider now holds 0 shares.
Before that, BOGER RICHARD LEE had added 3,200 shares to its account. In a trade valued at $36,320, the Director bought Gray Television Inc. shares for $11.35 each. Upon closing the transaction, the insider’s holdings increased to 3,200 shares, worth approximately $0.51 million.
As published in a research note from Wells Fargo on November 09, 2022, Gray Television Inc. [GTN] has been rated down from an Overweight to an Underweight and the price target has been revised to $7 from $25. This represents a -64.29% premium over Wednesday’s closing price. As of October 15, 2020, Loop Capital has initiated its “Buy” rating for GTN. Earlier on March 30, 2020, Barrington Research resumed its rating. Their recommendation was “an Outperform” for GTN stock.
Analyzing GTN Stock Performance
On Wednesday, Gray Television Inc. [NYSE: GTN] plunged -1.71% to $11.50. The stock’s lowest price that day was $11.285, but it reached a high of $11.765 in the same session. During the last five days, there has been a drop of approximately -8.22%. Over the course of the year, Gray Television Inc. shares have jumped approximately 2.77%. Shares of the company reached a 52-week high of $14.40 on 02/02/23 and a 52-week low of $11.04 on 01/04/23. A 50-day SMA is recorded $11.85, while a 200-day SMA reached $15.31. Nevertheless, trading volume fell to 0.64 million shares from 0.57 million shares the previous day.
Support And Resistance Levels for Gray Television Inc. (GTN)
According to the 24-hour chart, there is a support level at 11.27, which, if violated, would cause prices to drop to 11.04. In the upper region, resistance lies at 11.75. The next price resistance is at 12.00. RSI (Relative Strength Index) is 41.08 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.30, which suggests the price will decrease in the coming days. Percent R is at 91.21%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Gray Television Inc. subject to short interest?
Stocks of Gray Television Inc. saw a sharp steep in short interest on Jan 30, 2023 dropping by -0.3 million shares to 2.95 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 3.25 million shares. A decline of -10.17% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.02 of the overall float, the days-to-cover ratio (short ratio) decline to 4.02.
Which companies own the most shares of Gray Television Inc. (GTN)?
According to Dimensional Fund Advisors LP filings, the company currently owns 6,625,573 shares, which is about 7.75% of the total GTN shares outstanding. The investor’s shares have appreciated by 40,355 from its previous 13-F filing of 6585218.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $65,992,398. A total of 864,843 shares of Gray Television Inc. were bought by Channing Capital Management LLC during the quarter, and 0 by The Retirement Systems of Alabama. In its current portfolio, The Baupost Group LLC holds 3,510,000 shares valued at $45.49 million.
In terms of Gray Television Inc. share price expectations, FactSet research, analysts set an average price target of $14.88 in the next 12 months, up nearly 36.75% from the previous closing price of $11.70. Analysts anticipate Gray Television Inc. stock to reach $20.00 by 2023, with the lowest price target being $7.00. In spite of this, 8 analysts ranked Gray Television Inc. stock as an Overweight at the end of 2023. On September 24, 2019, Wells Fargo assigned a price target of “an Outperform” to the stock and initiated coverage with a $21.