On June 26, 2023, HOWELL HILTON H JR, the Chairman, President & CEO of Gray Television Inc (GTN, Financial), purchased 2000 shares of the company. This move is significant as insider buying can often be a positive indicator for the company's future performance.
Howell Hilton H Jr is a seasoned executive with extensive experience in the media industry. As the Chairman, President & CEO of Gray Television Inc, he plays a pivotal role in the company's strategic decisions and overall performance.
Gray Television Inc is a leading media company that owns and operates television stations and digital assets in markets throughout the United States. The company is known for its high-quality content, which includes local news, entertainment, and syndicated programming.
Over the past year, Howell Hilton H Jr has shown a strong buying trend, purchasing a total of 8290 shares and selling none. This suggests a high level of confidence in the company's prospects.
The insider transaction history for Gray Television Inc further supports this positive trend. Over the past year, there have been 13 insider buys and only 2 insider sells. This indicates a strong bullish sentiment among the company's insiders.
On the day of Howell Hilton H Jr's recent buy, shares of Gray Television Inc were trading at $9.19, giving the company a market cap of $734.382 million. The price-earnings ratio stands at 2.32, significantly lower than the industry median of 17.78 and the company’s historical median price-earnings ratio. This suggests that the stock is currently undervalued.
The GF Value, an intrinsic value estimate developed by GuruFocus, further supports this assessment. With a price of $9.19 and a GuruFocus Value of $27.13, Gray Television Inc has a price-to-GF-Value ratio of 0.34. This indicates that the stock is a possible value trap, and investors should think twice before investing.
The GF Value is calculated based on historical multiples, a GuruFocus adjustment factor, and future estimates of business performance from Morningstar analysts. Despite the potential value trap, the strong insider buying trend and the company's solid fundamentals suggest that Gray Television Inc may still be a good investment opportunity.
In conclusion, the recent insider buying activity by Howell Hilton H Jr, coupled with the company's strong fundamentals and undervalued status, make Gray Television Inc a stock to watch in the coming months.
