Raymond James & Associates reduced its holdings in Sinclair Broadcast Group Inc (NASDAQ:SBGI) by 65.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,142 shares of the company’s stock after selling 15,145 shares during the quarter. Raymond James & Associates’ holdings in Sinclair Broadcast Group were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in SBGI. Assenagon Asset Management S.A. acquired a new position in Sinclair Broadcast Group in the fourth quarter valued at $27,012,000. Key Square Capital Management LLC acquired a new position in Sinclair Broadcast Group in the third quarter valued at $16,565,000. LSV Asset Management increased its stake in Sinclair Broadcast Group by 789.5% in the fourth quarter. LSV Asset Management now owns 581,833 shares of the company’s stock valued at $15,325,000 after purchasing an additional 516,424 shares during the last quarter. Vanguard Group Inc increased its stake in Sinclair Broadcast Group by 4.6% in the third quarter. Vanguard Group Inc now owns 7,225,931 shares of the company’s stock valued at $204,855,000 after purchasing an additional 320,587 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Sinclair Broadcast Group by 4.6% in the third quarter. Vanguard Group Inc. now owns 7,225,931 shares of the company’s stock valued at $204,855,000 after purchasing an additional 320,587 shares during the last quarter. Hedge funds and other institutional investors own 67.05% of the company’s stock.
In other news, VP Barry Faber sold 16,882 shares of the company’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $34.78, for a total value of $587,155.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman David B. Amy sold 22,032 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $38.38, for a total value of $845,588.16. The disclosure for this sale can be found here. Insiders have sold 182,893 shares of company stock valued at $6,987,659 over the last 90 days. 29.24% of the stock is currently owned by insiders.
Shares of NASDAQ:SBGI opened at $44.98 on Wednesday. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 12.81 and a beta of 1.50. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 2.41. Sinclair Broadcast Group Inc has a 12 month low of $25.13 and a 12 month high of $44.98.
Sinclair Broadcast Group (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, February 27th. The company reported $2.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.12. The company had revenue of $893.30 million during the quarter, compared to analyst estimates of $878.46 million. Sinclair Broadcast Group had a return on equity of 21.77% and a net margin of 11.17%. The firm’s revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the firm posted $4.32 earnings per share. Research analysts predict that Sinclair Broadcast Group Inc will post 2.28 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, March 8th. This represents a $0.80 annualized dividend and a yield of 1.78%. Sinclair Broadcast Group’s dividend payout ratio is presently 23.88%.
Several equities analysts recently commented on the company. Zacks Investment Research lowered Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Benchmark upped their target price on Sinclair Broadcast Group from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, February 28th. BidaskClub upgraded Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research note on Monday, January 7th. ValuEngine upgraded Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a research note on Wednesday, January 9th. Finally, B. Riley upped their price target on Sinclair Broadcast Group from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 18th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Sinclair Broadcast Group currently has a consensus rating of “Buy” and a consensus price target of $38.56.
About Sinclair Broadcast Group
Sinclair Broadcast Group, Inc operates as a television broadcasting company in the United States. It owns or provides various programming, operating, sales, and other non-programming operating services to television stations. The company broadcasts free over-the-air programming, such as network provided programs, locally-produced news, local sporting events, programming from program service arrangements, syndicated entertainment programs, and internally originated programming to television viewing audiences in the communities through its local television stations.
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