Stifel Financial Corp cut its position in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) by 1.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,129 shares of the company’s stock after selling 131 shares during the quarter. Stifel Financial Corp’s holdings in Sinclair Broadcast Group were worth $305,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Numeric Investors LLC bought a new stake in shares of Sinclair Broadcast Group in the second quarter valued at $316,000. Voya Investment Management LLC raised its stake in shares of Sinclair Broadcast Group by 29.7% in the second quarter. Voya Investment Management LLC now owns 33,743 shares of the company’s stock valued at $1,110,000 after buying an additional 7,718 shares during the period. Goodnow Investment Group LLC raised its stake in shares of Sinclair Broadcast Group by 40.6% in the second quarter. Goodnow Investment Group LLC now owns 888,995 shares of the company’s stock valued at $29,248,000 after buying an additional 256,650 shares during the period. Bancorpsouth Inc. raised its stake in shares of Sinclair Broadcast Group by 11.4% in the second quarter. Bancorpsouth Inc. now owns 10,623 shares of the company’s stock valued at $349,000 after buying an additional 1,091 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Sinclair Broadcast Group by 17.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,938,276 shares of the company’s stock valued at $63,772,000 after purchasing an additional 284,237 shares during the period. Hedge funds and other institutional investors own 81.27% of the company’s stock.
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In other Sinclair Broadcast Group news, Director Howard E. Friedman sold 1,010 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $31.98, for a total value of $32,299.80. Following the transaction, the director now directly owns 10,990 shares in the company, valued at approximately $351,460.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 28.20% of the stock is owned by corporate insiders.
Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) opened at $30.00 on Friday. The company has a market capitalization of $3,147.72, a price-to-earnings ratio of 12.93, a PEG ratio of 7.54 and a beta of 1.92. The company has a quick ratio of 2.65, a current ratio of 2.65 and a debt-to-equity ratio of 3.46.
Sinclair Broadcast Group (NASDAQ:SBGI) last announced its earnings results on Wednesday, November 1st. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.13). The business had revenue of $670.90 million during the quarter, compared to the consensus estimate of $671.42 million. Sinclair Broadcast Group had a return on equity of 24.41% and a net margin of 9.06%. Sinclair Broadcast Group’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 earnings per share. equities analysts forecast that Sinclair Broadcast Group, Inc. will post 2.03 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.72 dividend on an annualized basis and a yield of 2.40%. Sinclair Broadcast Group’s dividend payout ratio is currently 27.07%.
A number of analysts recently issued reports on the company. ValuEngine lowered Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research upgraded Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Saturday, August 5th. Benchmark Co. boosted their price objective on Sinclair Broadcast Group from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Wells Fargo & Company reiterated an “outperform” rating and set a $55.00 price objective on shares of Sinclair Broadcast Group in a research note on Monday, October 2nd. Finally, Deutsche Bank AG assumed coverage on Sinclair Broadcast Group in a research note on Friday, October 20th. They set a “buy” rating and a $46.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Sinclair Broadcast Group currently has an average rating of “Buy” and a consensus target price of $44.80.
About Sinclair Broadcast Group
Sinclair Broadcast Group, Inc is a television broadcasting company. The Company focuses on providing content on its local television stations and digital platforms. The Company’s segments are broadcast, other and corporate. The Broadcast segment consists of its broadcast television stations. The content distributed through its broadcast platform consists of programming provided by third-party networks and syndicators, local news, it owns networks, and other original programming produced by it.
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