GRAY TELEVISION INC GTN
COM · Common Stock · CUSIP 389375106
American television broadcast company
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($1.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $5.20. Options: 7 managers hold calls ($408.7k notional), 10 hold puts ($3.9m).
Trends to Q2 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 215 |
| Q4 2022 | 209 |
| Q1 2023 | 217 |
| Q2 2023 | 216 |
| Q3 2023 | 220 |
| Q4 2023 | 218 |
| Q1 2024 | 212 |
| Q2 2024 | 221 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 113 | 91 |
| Q1 2023 | 119 | 86 |
| Q2 2023 | 112 | 102 |
| Q3 2023 | 99 | 98 |
| Q4 2023 | 113 | 91 |
| Q1 2024 | 109 | 101 |
| Q2 2024 | 118 | 94 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2023 | $2.4m | $2.5m | 1.02 |
| Q4 2023 | $1.1m | $672.8k | 0.60 |
| Q1 2024 | $1.5m | $435.8k | 0.30 |
| Q2 2024 | $408.7k | $3.9m | 9.48 |
Biggest buyers
| GOLDMAN SACHS GROUP INC | Added | +1.2m |
| ZACKS INVESTMENT MANAGEMENT | New | +590.0k |
| CAPITAL MANAGEMENT CORP /VA | Added | +566.9k |
| Miller Value Partners, LLC | Added | +282.9k |
| BlackRock Inc. | Added | +217.6k |
| Qube Research & Technologies Ltd | New | +214.9k |
| Counterpoint Mutual Funds LLC | New | +177.6k |
| JANE STREET GROUP, LLC | Added | +144.3k |
| J. Goldman & Co LP | New | +136.3k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +122.7k |
Biggest sellers
| MORGAN STANLEY | Reduced | -8.1m |
| CITADEL ADVISORS LLC | Reduced | -1.2m |
| DEUTSCHE BANK AG\ | Reduced | -1.2m |
| Darsana Capital Partners LP | Reduced | -1.2m |
| ARISTEIA CAPITAL, L.L.C. | Sold out | -747.6k |
| Nuveen Asset Management, LLC | Reduced | -425.1k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | Reduced | -371.3k |
| READYSTATE ASSET MANAGEMENT LP | Sold out | -321.7k |
| Empowered Funds, LLC | Reduced | -293.3k |
| FEDERATED HERMES, INC. | Reduced | -216.7k |
Biggest calls
| Parallax Volatility Advisers, L.P. | New | $117.0k22.5k shares |
| Caption Management, LLC | New | $104.0k20.0k shares |
| GROUP ONE TRADING LLC | Added | $81.1k15.6k shares |
| CITADEL ADVISORS LLC | Reduced | $79.0k15.2k shares |
| SIMPLEX TRADING, LLC | Reduced | $27.0k5.3k shares |
| Walleye Capital LLC | New | $520100 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| Brevan Howard Capital Management LP | New | $1.6m300.0k shares |
| NOMURA HOLDINGS INC | New | $612.6k117.8k shares |
| JANE STREET GROUP, LLC | New | $579.8k111.5k shares |
| MILLENNIUM MANAGEMENT LLC | New | $520.0k100.0k shares |
| Jefferies Financial Group Inc. | New | $355.2k68.3k shares |
| SIMPLEX TRADING, LLC | Added | $133.0k25.6k shares |
| CITADEL ADVISORS LLC | Reduced | $97.2k18.7k shares |
| WOLVERINE ASSET MANAGEMENT LLC | New | $10.4k2.0k shares |
| GROUP ONE TRADING LLC | Reduced | $5.2k1.0k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| MILLER VALUE PARTNERS, LLC 13G · institution +2.3 pts · filed 2026-08-07 | 8.1% |
| CAPITAL MANAGEMENT CORP /VA 13G · institution +1.5 pts · filed 2026-07-06 | 7.6% |
| BlackRock, Inc. 13G · institution filed 2025-04-24 | 6.9% |
| DIMENSIONAL FUND ADVISORS LP 13G · institution +0.4 pts · filed 2025-07-15 | 5.3% |
Fell to 5% or below in the last year: CHARLES SCHWAB INVESTMENT MANAGEMENT INC (4.1%, 2026-05-14), VANGUARD GROUP INC (0.0%, 2026-03-27)
Insider purchases and sales in Q2 2024
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2022 | 0 | — | 0 | — | — |
| Q4 2022 | 3 | $224.7k | 0 | — | — |
| Q1 2023 | 0 | — | 0 | — | — |
| Q2 2023 | 2 | $90.0k | 0 | — | — |
| Q3 2023 | 1 | $3.6k | 0 | — | — |
| Q4 2023 | 1 | $3.3k | 0 | — | — |
| Q1 2024 | 3 | $84.6k | 0 | — | — |
| Q2 2024 | 0 | — | 0 | — | — |
None reported in Q2 2024.
Holders, Q2 2024
| Manager | Shares | Change |
|---|---|---|
| BlackRock Inc. 0.00% of their portfolio | 7.2m $37.7m | Added +217.6k |
| VANGUARD GROUP INC 0.00% of their portfolio | 5.6m $29.3m | Reduced -30.8k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 4.8m $24.8m | Reduced -29.8k |
| MORGAN STANLEY 0.00% of their portfolio | 4.6m $24.0m | Reduced -8.1m |
| CAPITAL MANAGEMENT CORP /VA 4.41% of their portfolio | 4.2m $22.0m | Added +566.9k |
| Retirement Systems of Alabama 0.08% of their portfolio | 4.1m $21.5m | Unchanged |
| Darsana Capital Partners LP 0.58% of their portfolio | 4.1m $21.3m | Reduced -1.2m |
| UBS Group AG 0.00% of their portfolio | 3.0m $15.4m | Reduced -194.7k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 2.9m $15.0m | Reduced -150.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 2.2m $11.3m | Reduced -371.3k |
| STATE STREET CORP 0.00% of their portfolio | 2.0m $10.3m | Reduced -11.1k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 1.9m $10.0m | Added +122.7k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 1.9m $9.9m | Added +1.2m |
| Penn Capital Management Company, LLC 0.86% of their portfolio | 1.7m $9.1m | Reduced -18.4k |
| Tributary Capital Management, LLC 0.58% of their portfolio | 1.3m $6.9m | Added +10.1k |
| Clearbridge Investments, LLC 0.01% of their portfolio | 1.3m $6.7m | Reduced -22.0k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio | 1.3m $6.5m | Reduced -8.6k |
| AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 1.1m $5.5m | Added +48.6k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 917.6k $4.8m | Reduced -95.9k |
| NORGES BANK 0.00% of their portfolio | 915.6k $4.8m | Reduced -215.0k |
| Miller Value Partners, LLC 2.56% of their portfolio | 772.1k $4.0m | Added +282.9k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 758.1k $3.9m | Reduced -33.9k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.01% of their portfolio | 730.4k $3.8m | Reduced -82.6k |
| MARSHALL WACE, LLP 0.01% of their portfolio | 680.8k $3.5m | Reduced -88.8k |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.08% of their portfolio | 672.7k $3.5m | Reduced -25.3k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 660.5k $3.4m | Added +26.1k |
| ZACKS INVESTMENT MANAGEMENT 0.03% of their portfolio | 590.0k $3.1m | New |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 560.8k $2.9m | Added +82.5k |
| AMERICAN FINANCIAL GROUP INC 1.21% of their portfolio | 540.2k $2.8m | Unchanged |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 486.6k $2.5m | Reduced -1.2m |
| GAMCO INVESTORS, INC. ET AL 0.02% of their portfolio | 364.9k $1.9m | Reduced -15.5k |
| DENALI ADVISORS LLC 0.51% of their portfolio | 357.0k $1.9m | Added +77.1k |
| Empowered Funds, LLC 0.03% of their portfolio | 342.7k $1.8m | Reduced -293.3k |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 339.0k $1.8m | Reduced -425.1k |
| Invesco Ltd. 0.00% of their portfolio | 304.7k $1.6m | Reduced -18.5k |
| QVT Financial LP 0.14% of their portfolio | 291.5k $1.5m | Unchanged |
| PANAGORA ASSET MANAGEMENT INC 0.01% of their portfolio | 288.7k $1.5m | Reduced -27.0k |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.03% of their portfolio | 274.9k $1.4m | Added +102.1k |
| Skylands Capital, LLC 0.19% of their portfolio | 255.6k $1.3m | Reduced -20.2k |
| Teton Advisors, Inc. 0.54% of their portfolio | 248.2k $1.3m | Unchanged |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 246.4k $1.3m | Added +59.9k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 236.7k $1.2m | Added +91.6k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 227.2k $1.2m | Added +14.2k |
| PRUDENTIAL FINANCIAL INC 0.00% of their portfolio | 218.4k $1.1m | Reduced -37.2k |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 214.9k $1.1m | New |
| Mitsubishi UFJ Trust & Banking Corp 0.00% of their portfolio | 190.0k $988.0k | Added +94.6k |
| Balyasny Asset Management L.P. 0.00% of their portfolio | 186.0k $967.0k | Added +92.8k |
| CastleKnight Management LP 0.12% of their portfolio | 177.6k $923.5k | Unchanged |
| Counterpoint Mutual Funds LLC 0.22% of their portfolio | 177.6k $923.4k | New |
| ARCADIA INVESTMENT MANAGEMENT CORP/MI 0.15% of their portfolio | 172.8k $898.5k | Added +47.9k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 171.3k $890.7k | Added +144.3k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 165.5k $860.8k | Added +4.5k |
| Jump Financial, LLC 0.02% of their portfolio | 165.0k $858.0k | Added +57.9k |
| Swiss National Bank 0.00% of their portfolio | 163.4k $849.7k | Unchanged |
| Sanctuary Advisors, LLC 0.01% of their portfolio | 157.1k $881.5k | First filing |
| Squarepoint Ops LLC 0.00% of their portfolio | 142.5k $741.2k | Added +116.8k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 139.6k $726.1k | Added +3.5k |
| J. Goldman & Co LP 0.03% of their portfolio | 136.3k $709.0k | New |
| Diametric Capital, LP 0.36% of their portfolio | 127.5k $662.9k | Added +667 |
| BARCLAYS PLC 0.00% of their portfolio | 127.0k $660.4k | Reduced -28.5k |
| CORNERCAP INVESTMENT COUNSEL INC 0.11% of their portfolio | 125.1k $650.7k | Added +86.6k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 124.9k $649.3k | Added +7.8k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio | 120.8k $628.0k | New |
| Dynamic Technology Lab Private Ltd 0.07% of their portfolio | 111.6k $580.0k | New |
| Y-Intercept (Hong Kong) Ltd 0.03% of their portfolio | 110.6k $575.4k | Added +7.3k |
| LSV ASSET MANAGEMENT 0.00% of their portfolio | 102.9k $535.0k | Reduced -58.1k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 95.6k $497.2k | Reduced -2.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 93.9k $489.0k | Added +2.5k |
| WOLVERINE ASSET MANAGEMENT LLC 0.01% of their portfolio | 93.7k $487.3k | New |
| JB CAPITAL PARTNERS LP 0.10% of their portfolio | 87.3k $454.0k | Unchanged |
| Vestcor Inc 0.01% of their portfolio | 82.6k $429.0k | Added +76.1k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 81.9k $426.0k | Reduced -1.2k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 80.6k $419.4k | Reduced -1.2m |
| Linden Thomas Advisory Services, LLC 0.06% of their portfolio | 79.4k $413.1k | Added +7.4k |
| Legal & General Group Plc 0.00% of their portfolio | 79.2k $412.0k | Added +2.8k |
| CIBC WORLD MARKET INC. 0.00% of their portfolio | 78.5k $408.0k | New |
| Atria Wealth Solutions, Inc. 0.00% of their portfolio | 75.0k $389.8k | Added +464 |
| CAXTON ASSOCIATES LP 0.01% of their portfolio | 70.8k $368.1k | New |
| DARK FOREST CAPITAL MANAGEMENT LP 0.06% of their portfolio | 63.6k $330.8k | Added +53.1k |
| HighTower Advisors, LLC 0.00% of their portfolio | 63.6k $334.0k | Added +17.7k |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 61.8k $321.6k | Added +50.9k |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 61.8k $321.2k | Added +5.6k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 60.9k $316.8k | Reduced -6.2k |
| GSA CAPITAL PARTNERS LLP 0.02% of their portfolio | 60.0k $312.0k | New |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio | 60.0k $312.1k | Added +615 |
| LPL Financial LLC 0.00% of their portfolio | 59.9k $311.5k | Added +1.6k |
| CANADA LIFE ASSURANCE Co 0.00% of their portfolio | 59.6k $310.0k | Reduced -77 |
| GROUP ONE TRADING LLC 0.01% of their portfolio | 57.7k $300.3k | Added +23.1k |
| FOX RUN MANAGEMENT, L.L.C. 0.05% of their portfolio | 56.0k $291.3k | New |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 55.6k $288.9k | Added +21.3k |
| Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio | 53.3k $277.0k | Reduced -4.3k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 50.0k $260.0k | Reduced -148.5k |
| MetLife Investment Management, LLC 0.00% of their portfolio | 49.5k $257.4k | Added +5.0k |
| NOMURA HOLDINGS INC 0.00% of their portfolio | 46.8k $243.5k | New |
| PRELUDE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 46.4k $241.4k | Reduced -13.0k |
| Corebridge Financial, Inc. 0.00% of their portfolio | 46.0k $239.4k | First filing |
| Nebula Research & Development LLC 0.04% of their portfolio | 45.6k $236.9k | Reduced -6.8k |
| PITCAIRN CO 0.01% of their portfolio | 45.5k $236.8k | Added +2.1k |
| HUDSON EDGE INVESTMENT PARTNERS INC. 0.05% of their portfolio | 45.4k $236.0k | Added +4.8k |
| Centiva Capital, LP 0.01% of their portfolio | 44.4k $231.0k | Reduced -54.8k |