Nomura Holdings Inc. lifted its holdings in Sinclair Broadcast Group Inc (NASDAQ:SBGI) by 47.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,291 shares of the company’s stock after purchasing an additional 12,291 shares during the quarter. Nomura Holdings Inc.’s holdings in Sinclair Broadcast Group were worth $1,620,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Campbell & CO Investment Adviser LLC bought a new stake in Sinclair Broadcast Group during the third quarter worth $1,046,000. Atria Investments LLC bought a new stake in Sinclair Broadcast Group during the second quarter worth $1,031,000. Prudential Financial Inc. raised its position in Sinclair Broadcast Group by 1,064.2% during the second quarter. Prudential Financial Inc. now owns 217,982 shares of the company’s stock worth $11,690,000 after acquiring an additional 199,259 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Sinclair Broadcast Group by 30.5% during the second quarter. Canada Pension Plan Investment Board now owns 691,546 shares of the company’s stock worth $37,088,000 after acquiring an additional 161,478 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Sinclair Broadcast Group during the second quarter worth $767,000. 63.80% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have issued reports on the stock. Stephens dropped their price target on shares of Sinclair Broadcast Group from $80.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 19th. They noted that the move was a valuation call. Wells Fargo & Co assumed coverage on shares of Sinclair Broadcast Group in a research report on Tuesday, September 24th. They set a “market perform” rating and a $48.00 price target on the stock. TheStreet lowered shares of Sinclair Broadcast Group from a “b” rating to a “c” rating in a research report on Monday, December 9th. Zacks Investment Research lowered shares of Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research report on Thursday, December 5th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Sinclair Broadcast Group in a report on Friday. They issued a “neutral” rating and a $37.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $53.00.
Sinclair Broadcast Group (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.65) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.98). Sinclair Broadcast Group had a net margin of 5.99% and a return on equity of 25.47%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the firm earned $0.62 earnings per share. Sinclair Broadcast Group’s revenue for the quarter was up 46.9% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.20 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.80 annualized dividend and a dividend yield of 2.63%. Sinclair Broadcast Group’s dividend payout ratio is currently 23.88%.
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, 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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