Gotham Asset Management LLC Sells 390,913 Shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI)

Gotham Asset Management LLC trimmed its position in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) by 93.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,456 shares of the company’s stock after selling 390,913 shares during the quarter. Gotham Asset Management LLC’s holdings in Sinclair Broadcast Group were worth $838,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alps Advisors Inc. boosted its position in Sinclair Broadcast Group by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 11,636 shares of the company’s stock worth $383,000 after acquiring an additional 30 shares during the period. Kissinger Financial Services LLC lifted its holdings in shares of Sinclair Broadcast Group by 0.5% in the second quarter. Kissinger Financial Services LLC now owns 8,742 shares of the company’s stock valued at $287,000 after buying an additional 45 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of 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 valued at $202,000 after buying an additional 164 shares during the period. Amalgamated Bank lifted its holdings in shares of Sinclair Broadcast Group by 3.1% in the second quarter. Amalgamated Bank now owns 8,929 shares of the company’s stock valued at $294,000 after buying an additional 269 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Sinclair Broadcast Group by 9.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,170 shares of the company’s stock valued at $104,000 after buying an additional 273 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Several analysts have recently weighed in on the company. Deutsche Bank AG assumed coverage on Sinclair Broadcast Group in a report on Friday, October 20th. They issued a “buy” rating and a $46.00 price objective for the company. Zacks Investment Research raised Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Wednesday, October 4th. ValuEngine raised Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Wells Fargo & Company reaffirmed an “outperform” rating and set a $55.00 target price on shares of Sinclair Broadcast Group in a report on Monday, October 2nd. Finally, Benchmark Co. upped their target price on Sinclair Broadcast Group from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, August 1st. Nine analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus target price of $45.00.

In other Sinclair Broadcast Group news, Director Howard E. Friedman sold 1,010 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $31.98, for a total value of $32,299.80. Following the completion of the transaction, the director now directly owns 10,990 shares of the company’s stock, valued at approximately $351,460.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 28.20% of the stock is owned by company insiders.

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Shares of Sinclair Broadcast Group, Inc. (SBGI) traded down 1.27% on Friday, reaching $31.00. The company’s stock had a trading volume of 998,115 shares. Sinclair Broadcast Group, Inc. has a 1-year low of $24.15 and a 1-year high of $43.05. The company’s 50 day moving average is $29.98 and its 200-day moving average is $33.07. The stock has a market cap of $3.18 billion, a PE ratio of 10.87 and a beta of 1.83.

Sinclair Broadcast Group (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.43. Sinclair Broadcast Group had a net margin of 9.70% and a return on equity of 32.06%. The business had revenue of $679.30 million during the quarter, compared to analyst estimates of $678.23 million. During the same period in the previous year, the business earned $0.52 EPS. Sinclair Broadcast Group’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts predict that Sinclair Broadcast Group, Inc. will post $2.05 earnings per share for the current fiscal year.

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.

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

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