LSV Asset Management decreased its position in Sinclair Broadcast Group Inc (NASDAQ:SBGI) by 4.5% in the second quarter, HoldingsChannel reports. The firm owned 65,409 shares of the company’s stock after selling 3,100 shares during the quarter. LSV Asset Management’s holdings in Sinclair Broadcast Group were worth $2,102,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. HG Vora Capital Management LLC raised its holdings in Sinclair Broadcast Group by 19.8% in the first quarter. HG Vora Capital Management LLC now owns 7,550,000 shares of the company’s stock worth $236,315,000 after purchasing an additional 1,250,000 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in Sinclair Broadcast Group by 10.6% in the first quarter. OppenheimerFunds Inc. now owns 3,179,438 shares of the company’s stock worth $99,516,000 after purchasing an additional 304,480 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Sinclair Broadcast Group by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,124,466 shares of the company’s stock worth $66,496,000 after purchasing an additional 5,375 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Sinclair Broadcast Group by 27.9% in the first quarter. Russell Investments Group Ltd. now owns 1,074,615 shares of the company’s stock worth $33,635,000 after acquiring an additional 234,234 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Sinclair Broadcast Group by 22.8% in the first quarter. Royal Bank of Canada now owns 1,063,145 shares of the company’s stock worth $33,277,000 after acquiring an additional 197,173 shares during the last quarter. Institutional investors and hedge funds own 78.04% of the company’s stock.
NASDAQ SBGI opened at $28.65 on Thursday. Sinclair Broadcast Group Inc has a 12 month low of $25.13 and a 12 month high of $40.15. The firm has a market capitalization of $2.99 billion, a PE ratio of 10.23, a P/E/G ratio of 5.33 and a beta of 1.59. The company has a debt-to-equity ratio of 2.44, a quick ratio of 2.96 and a current ratio of 2.96.
Sinclair Broadcast Group (NASDAQ:SBGI) last released its earnings results on Wednesday, August 8th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.25. Sinclair Broadcast Group had a return on equity of 19.12% and a net margin of 19.47%. The firm had revenue of $730.10 million for the quarter, compared to analysts’ expectations of $715.55 million. During the same period in the prior year, the firm posted $0.43 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. equities analysts anticipate that Sinclair Broadcast Group Inc will post 2.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Investors of record on Friday, August 31st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.72 annualized dividend and a dividend yield of 2.51%. Sinclair Broadcast Group’s dividend payout ratio (DPR) is presently 25.71%.
In related news, Director Lawrence E. Mccanna sold 2,000 shares of the stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $32.26, for a total transaction of $64,520.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 29.24% of the company’s stock.
A number of equities research analysts have recently commented on the company. ValuEngine raised Sinclair Broadcast Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 15th. BidaskClub raised Sinclair Broadcast Group from a “strong sell” rating to a “sell” rating in a research note on Friday, August 10th. TheStreet cut Sinclair Broadcast Group from a “b” rating to a “c+” rating in a research note on Thursday, May 3rd. Benchmark reissued a “buy” rating and issued a $52.00 target price on shares of Sinclair Broadcast Group in a research note on Thursday, May 10th. Finally, B. Riley cut their target price on Sinclair Broadcast Group from $49.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, July 17th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $41.18.
Sinclair Broadcast Group Profile
Sinclair Broadcast Group, Inc operates as a television broadcasting company in the United States. It owns or provides various programming, operating, or sales 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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