Gray Television’s Board of Directors Authorizes $150 Million Share Repurchase

On November 5, Gray Television, Inc. (GTN) announced that its Board of Directors authorized an expansion of its current share repurchase agreement. The Board authorized an additional $150 million in common stock repurchases through December 31, 2023. Gray had about $70 million remaining on its existing share repurchase authorization.

 

Sonal sent an alert to its subscribers at 6:15 am. The next trade took place at 8:46 am for $13.97. Gray’s stock price spiked up above $14.50 at the market open, and gains continued over the next five trading days. Gray closed at $16.65 on November 11 for a five-day gain of 20%.

 

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