Geode Capital Management LLC lifted its position in shares of Sinclair Broadcast Group Inc (NASDAQ:SBGI) by 3.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 762,065 shares of the company’s stock after purchasing an additional 24,863 shares during the period. Geode Capital Management LLC’s holdings in Sinclair Broadcast Group were worth $12,253,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC acquired a new stake in Sinclair Broadcast Group during the 4th quarter worth approximately $39,000. Sunbelt Securities Inc. bought a new stake in shares of Sinclair Broadcast Group in the fourth quarter worth $28,339,000. Amundi Pioneer Asset Management Inc. bought a new position in Sinclair Broadcast Group during the 1st quarter worth $200,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Sinclair Broadcast Group by 17.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,020 shares of the company’s stock worth $97,000 after buying an additional 916 shares during the period. Finally, Rockefeller Capital Management L.P. grew its position in shares of Sinclair Broadcast Group by 6,142.1% in the 1st quarter. Rockefeller Capital Management L.P. now owns 7,553 shares of the company’s stock valued at $121,000 after buying an additional 7,432 shares during the last quarter. 69.54% of the stock is owned by institutional investors.
SBGI has been the topic of several analyst reports. Wells Fargo & Co cut Sinclair Broadcast Group from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $16.00 to $11.00 in a report on Monday, May 4th. B. Riley dropped their price objective on Sinclair Broadcast Group from $22.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. ValuEngine downgraded Sinclair Broadcast Group from a “sell” rating to a “strong sell” rating in a report on Monday, June 1st. Zacks Investment Research upgraded Sinclair Broadcast Group from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Finally, Benchmark dropped their target price on shares of Sinclair Broadcast Group from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $33.75.
Shares of SBGI stock opened at $17.72 on Wednesday. The company has a current ratio of 3.65, a quick ratio of 3.65 and a debt-to-equity ratio of 8.12. The firm has a fifty day simple moving average of $18.87 and a two-hundred day simple moving average of $22.94. Sinclair Broadcast Group Inc has a 12 month low of $10.57 and a 12 month high of $59.58. The firm has a market capitalization of $1.35 billion, a PE ratio of 10.87 and a beta of 1.34.
Sinclair Broadcast Group (NASDAQ:SBGI) last posted its earnings results on Wednesday, May 6th. The company reported $1.35 EPS for the quarter, topping the consensus estimate of $0.04 by $1.31. Sinclair Broadcast Group had a net margin of 2.91% and a return on equity of 23.41%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the previous year, the firm posted $0.23 earnings per share. The firm’s revenue for the quarter was up 122.9% on a year-over-year basis. On average, equities analysts predict that Sinclair Broadcast Group Inc will post 1.64 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date was Friday, May 29th. Sinclair Broadcast Group’s dividend payout ratio is currently 26.94%.
Sinclair Broadcast Group Company Profile
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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