American Century Companies Inc. Sells 6,750 Shares of Sinclair Broadcast Group, Inc. (SBGI)

American Century Companies Inc. reduced its position in shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) by 16.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,168 shares of the company’s stock after selling 6,750 shares during the quarter. American Century Companies Inc.’s holdings in Sinclair Broadcast Group were worth $1,124,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Sinclair Broadcast Group by 55.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,897 shares of the company’s stock valued at $117,000 after purchasing an additional 1,036 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Sinclair Broadcast Group by 9.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,230 shares of the company’s stock valued at $131,000 after purchasing an additional 278 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Sinclair Broadcast Group by 2.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 6,141 shares of the company’s stock valued at $202,000 after purchasing an additional 164 shares during the period. M&T Bank Corp bought a new stake in shares of Sinclair Broadcast Group during the 1st quarter valued at about $213,000. Finally, New York State Teachers Retirement System bought a new stake in shares of Sinclair Broadcast Group during the 1st quarter valued at about $235,000. Institutional investors and hedge funds own 83.10% of the company’s stock.

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A number of equities research analysts have issued reports on SBGI shares. Zacks Investment Research upgraded Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Saturday, August 5th. Benchmark Co. boosted their price target 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. Royal Bank Of Canada restated a “buy” rating and set a $45.00 price target on shares of Sinclair Broadcast Group in a research note on Wednesday, July 5th. Stephens set a $46.00 price target on Sinclair Broadcast Group and gave the company a “buy” rating in a research note on Saturday, June 3rd. Finally, ValuEngine downgraded Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Monday, September 11th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $43.50.

Sinclair Broadcast Group, Inc. (NASDAQ SBGI) opened at 27.90 on Friday. The stock’s 50 day moving average price is $30.57 and its 200-day moving average price is $35.16. Sinclair Broadcast Group, Inc. has a 52-week low of $24.15 and a 52-week high of $43.05. The stock has a market capitalization of $2.87 billion, a PE ratio of 9.78 and a beta of 1.80.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its earnings results on Wednesday, August 2nd. The company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The firm had revenue of $679.30 million for the quarter, compared to analyst estimates of $678.23 million. Sinclair Broadcast Group had a return on equity of 32.06% and a net margin of 9.70%. Sinclair Broadcast Group’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share. On average, equities analysts expect that Sinclair Broadcast Group, Inc. will post $2.01 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.58%. The ex-dividend date was Wednesday, August 30th. Sinclair Broadcast Group’s dividend payout ratio (DPR) is 24.83%.

Sinclair Broadcast Group Profile

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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