Quantitative Investment Management LLC purchased a new stake in shares of Sinclair Broadcast Group Inc (NASDAQ:SBGI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 19,500 shares of the company’s stock, valued at approximately $738,000.
A number of other large investors have also made changes to their positions in SBGI. Sei Investments Co. increased its holdings in Sinclair Broadcast Group by 10.3% during the 3rd quarter. Sei Investments Co. now owns 185,983 shares of the company’s stock valued at $5,961,000 after purchasing an additional 17,335 shares during the period. New York State Common Retirement Fund increased its holdings in Sinclair Broadcast Group by 3.9% during the 3rd quarter. New York State Common Retirement Fund now owns 331,886 shares of the company’s stock valued at $10,637,000 after purchasing an additional 12,463 shares during the period. Russell Investments Group Ltd. increased its holdings in Sinclair Broadcast Group by 980.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 842,172 shares of the company’s stock valued at $26,992,000 after purchasing an additional 764,195 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in Sinclair Broadcast Group during the 3rd quarter valued at about $313,000. Finally, Rational Advisors LLC purchased a new position in Sinclair Broadcast Group during the 3rd quarter valued at about $234,000. Institutional investors own 87.22% of the company’s stock.
Sinclair Broadcast Group stock opened at $31.45 on Thursday. Sinclair Broadcast Group Inc has a twelve month low of $26.70 and a twelve month high of $41.20. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 2.53. The firm has a market capitalization of $3,205.09, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 1.51 and a beta of 1.83.
Sinclair Broadcast Group (NASDAQ:SBGI) last posted its earnings results on Wednesday, February 28th. The company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $1.07. Sinclair Broadcast Group had a return on equity of 22.76% and a net margin of 21.07%. The firm had revenue of $734.00 million for the quarter, compared to the consensus estimate of $733.41 million. During the same quarter in the prior year, the business earned $1.32 EPS. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. sell-side analysts expect that Sinclair Broadcast Group Inc will post 3.58 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be paid a $0.18 dividend. The ex-dividend date is Thursday, March 8th. This represents a $0.72 annualized dividend and a dividend yield of 2.29%. Sinclair Broadcast Group’s payout ratio is currently 12.72%.
A number of research analysts recently issued reports on the company. BidaskClub downgraded Sinclair Broadcast Group from a “sell” rating to a “strong sell” rating in a report on Wednesday. Zacks Investment Research downgraded Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. ValuEngine upgraded Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a report on Friday, March 2nd. B. Riley reduced their target price on Sinclair Broadcast Group from $53.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, March 1st. Finally, Stephens set a $47.00 target price on Sinclair Broadcast Group and gave the stock a “buy” rating in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $46.64.
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Sinclair Broadcast Group Company 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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