Recent insider trends for Gray Television, Inc. (NYSE:GTN) have caught the attention of investors. Insider data is useful because it can reveal what a company’s executives and largest shareholders feel about a stock. In this case, the data has some interesting things to say about how GTN might perform in the future.
Institutions own 89.68% of Gray Television, Inc. (GTN)’s shares. The total value of these holdings, in millions, is $941. Among active positions in the latest quarter, 78 holders increased their positions by a total of 11.08 million shares, 85 holders decreased the positions by a total of 9.34 million shares, and 21 holders held their positions. This works out to a net increase in ownership of 1.74 million shares, and suggests that institutions are feeling bullish about the stock.
Among new and sold out positions, 27 holders initiated new positions by a total of 4.76 million shares and 32 holders exited their positions by a total of 3.01 million shares. This nets out to an increase of 1.75 million shares and is a bullish sign for GTN.
Insider ownership increased by a total of 0 shares, which suggests that GTN’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: insiders executed 22 buys and 18 sells, and ownership increased by a net of 473318 shares.
Short interest, or the number of a stock’s tradable shares currently being shorted, is another metric investors use to get a pulse on sentiment. Gray Television, Inc. (NYSE:GTN)’s short interest is 2.86 million shares, or 4.40% of the float. This represents a decrease of -25% in the number of shares being shorted compared to the previous reading, and implies that investors felt less pessimistic about the stock during the past two weeks.
Ownership trends and trading patterns can be useful tools for predicting a stock’s performance, but it’s also important to consider the technicals in order to form a more comprehensive view. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that GTN is a buy, which implies that GTN is expected to outperform the market based on prior trading patterns.
Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that Gray Television, Inc. (NYSE:GTN) is undervalued.