Gray Television Increases Share Repurchase Program

Gray Television, Inc. (GTN) announced on November 7 that the company’s Board of Directors increased the current share repurchase allotment. The existing agreement allowed the company to repurchase up to 5 million shares of common stock. The new authorization allows the company to purchase an additional $75 million in common stock before December 31, 2019.

 

Jet Equities detected the event and issued an alert at 6:15 am. The last trade was at 5:30 pm the previous day for $16.41. The stock price spiked higher at the market and continued to rise throughout the event day. Gray’s stock price continued to increase over the next four trading sessions. It closed at $19.28 on November 13 for a five-day gain of 17.5%.

Visit the Knowledge Center to learn more about trading share repurchases and buybacks.

Subscribe here if you would like to start receiving these signals in real-time and start trading!