Insider Buys Gray TV as Market Eyes M&A

Gray Television (GTN) board member Harriett Robinson directly purchased 15,000 shares on June 18 at an average price of $6.94 per share, according to an SEC filing. Robinson, her spouse and associated trusts are major shareholders of Gray, a $410 million market cap owner of broadcast TV stations (on average more than 600,000 shares are traded per day, so at a price of about $7 there is more than $4 million in daily dollar volume.)

Gray's stock price has more than tripled year to date; in addition to decent analyst projections for next year, there has recently been quite a bit of M&A in broadcasting stations with Gannett (GCI) having recently announced an acquisition in the space and larger broadcaster Sinclair Broadcast Group (SBGI) publicly disclosing that it is looking for deals....494 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.