Gray Television (GTN): Today's Weak On High Volume Stock
Trade-Ideas LLC identified
(
) as a weak on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Gray Television as such a stock due to the following factors:
- GTN has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $8.6 million.
- GTN has traded 291,236 shares today.
- GTN is trading at 19.73 times the normal volume for the stock at this time of day.
- GTN is trading at a new low 6.16% below yesterday's close.
'Weak on High Relative Volume' stocks are worth watching because major volume moves tend to indicate underlying activity such as material stock news, analyst downgrades, insider selling, selling from 'superinvestors,' or that hedge funds and traders are piling out of a stock ahead of a catalyst. Regardless of the impetus behind the price and volume action, when a stock moves with strength and volume it can indicate the start of a new trend on which early investors can capitalize (or avoid losses by trimming weak positions). In the event of a well-timed trading opportunity, combining technical indicators with fundamental trends and a disciplined trading methodology should help you take the first steps towards investment success.
EXCLUSIVE OFFER: Get the inside scoop on opportunities in GTN with the Ticky from Trade-Ideas. See the FREE profile for GTN NOW at Trade-Ideas
More details on GTN:
Gray Television, Inc., a television broadcast company, owns and/or operates television stations and digital assets in the United States. GTN has a PE ratio of 24. Currently there are 3 analysts that rate Gray Television a buy, no analysts rate it a sell, and none rate it a hold.
The average volume for Gray Television has been 696,100 shares per day over the past 30 days. Gray Television has a market cap of $974.2 million and is part of the services sector and media industry. The stock has a beta of 2.70 and a short float of 7% with 4.44 days to cover. Shares are down 16.3% year-to-date as of the close of trading on Friday.
EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.
Analysis:
rates Gray Television as a
. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels and expanding profit margins. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
Highlights from the ratings report include:
- 39.95% is the gross profit margin for GRAY TELEVISION INC which we consider to be strong. Despite the high profit margin, it has decreased significantly from the same period last year. Despite the mixed results of the gross profit margin, the net profit margin of 8.84% trails the industry average.
- GRAY TELEVISION INC has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. The company has suffered a declining pattern of earnings per share over the past year. However, we anticipate this trend reversing over the coming year. During the past fiscal year, GRAY TELEVISION INC reported lower earnings of $0.57 versus $0.82 in the prior year. This year, the market expects an improvement in earnings ($1.92 versus $0.57).
- GTN, with its decline in revenue, underperformed when compared the industry average of 9.7%. Since the same quarter one year prior, revenues slightly dropped by 4.7%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
- The debt-to-equity ratio is very high at 2.88 and currently higher than the industry average, implying increased risk associated with the management of debt levels within the company. Regardless of the company's weak debt-to-equity ratio, GTN has managed to keep a strong quick ratio of 2.50, which demonstrates the ability to cover short-term cash needs.
- You can view the full Gray Television Ratings Report.
EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.
