Sinclair Broadcast Group, Inc. (SBGI) Shares Sold by Macquarie Group Ltd.

Macquarie Group Ltd. decreased its holdings in shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) by 84.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,600 shares of the company’s stock after selling 25,800 shares during the period. Macquarie Group Ltd.’s holdings in Sinclair Broadcast Group were worth $147,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Sinclair Broadcast Group by 9.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,170 shares of the company’s stock worth $104,000 after acquiring an additional 273 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Sinclair Broadcast Group in the second quarter worth approximately $141,000. Cheyne Capital Management UK LLP bought a new position in Sinclair Broadcast Group in the third quarter worth approximately $170,000. Teacher Retirement System of Texas boosted its holdings in Sinclair Broadcast Group by 2.7% in the second quarter. Teacher Retirement System of Texas now owns 6,141 shares of the company’s stock worth $202,000 after acquiring an additional 164 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Sinclair Broadcast Group by 141.1% in the second quarter. PNC Financial Services Group Inc. now owns 7,786 shares of the company’s stock worth $255,000 after acquiring an additional 4,556 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) opened at $37.85 on Friday. Sinclair Broadcast Group, Inc. has a fifty-two week low of $26.70 and a fifty-two week high of $43.05. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 3.51. The firm has a market capitalization of $3,850.90, a P/E ratio of 15.97, a PEG ratio of 3.25 and a beta of 1.92.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its earnings results on Wednesday, November 1st. The company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.13). Sinclair Broadcast Group had a net margin of 9.06% and a return on equity of 23.27%. The company had revenue of $670.90 million during the quarter, compared to the consensus estimate of $671.42 million. During the same quarter in the prior year, the business earned $0.54 EPS. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. sell-side analysts forecast that Sinclair Broadcast Group, Inc. will post 1.99 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were issued a $0.18 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.90%. Sinclair Broadcast Group’s dividend payout ratio is presently 27.07%.

Several research analysts have issued reports on SBGI shares. ValuEngine lowered Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Monday, September 11th. Wells Fargo & Company restated an “outperform” rating and issued a $55.00 target price on shares of Sinclair Broadcast Group in a report on Monday, October 2nd. Zacks Investment Research upgraded Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Wednesday, October 4th. Deutsche Bank initiated coverage on Sinclair Broadcast Group in a report on Friday, October 20th. They issued a “buy” rating and a $46.00 target price on the stock. Finally, FBR & Co initiated coverage on Sinclair Broadcast Group in a report on Tuesday, October 31st. They issued a “buy” rating and a $43.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $45.17.

In related news, Director Howard E. Friedman sold 1,010 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $31.98, for a total transaction of $32,299.80. Following the completion of the sale, the director now directly owns 10,990 shares of the company’s stock, valued at $351,460.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 28.20% of the company’s stock.

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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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Institutional Ownership by Quarter for Sinclair Broadcast Group (NASDAQ:SBGI)

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