Stoneridge Investment Partners LLC grew its stake in shares of Sinclair Broadcast Group Inc (NASDAQ:SBGI) by 135.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,957 shares of the company’s stock after purchasing an additional 12,644 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in Sinclair Broadcast Group were worth $831,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in SBGI. Migdal Insurance & Financial Holdings Ltd. bought a new position in Sinclair Broadcast Group in the second quarter worth $141,000. FNY Managed Accounts LLC bought a new position in shares of Sinclair Broadcast Group during the third quarter valued at $153,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Sinclair Broadcast Group by 68.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,346 shares of the company’s stock valued at $171,000 after acquiring an additional 2,176 shares in the last quarter. Parametrica Management Ltd bought a new position in shares of Sinclair Broadcast Group during the fourth quarter valued at $207,000. Finally, Rational Advisors LLC bought a new position in shares of Sinclair Broadcast Group during the third quarter valued at $234,000. 84.93% of the stock is owned by institutional investors.
Shares of Sinclair Broadcast Group Inc (NASDAQ:SBGI) traded up $0.90 on Wednesday, reaching $36.45. The company had a trading volume of 1,206,100 shares, compared to its average volume of 1,530,582. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.74 and a quick ratio of 1.74. Sinclair Broadcast Group Inc has a 52 week low of $26.70 and a 52 week high of $43.05. The company has a market cap of $3,616.89, a P/E ratio of 15.00, a PEG ratio of 1.94 and a beta of 1.80.
SBGI has been the subject of several analyst reports. ValuEngine downgraded Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. Deutsche Bank started coverage on Sinclair Broadcast Group in a research report on Friday, October 20th. They set a “buy” rating and a $46.00 price objective on the stock. BidaskClub cut Sinclair Broadcast Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. B. Riley increased their price objective on Sinclair Broadcast Group from $45.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, November 27th. Finally, Stephens set a $47.00 price objective on Sinclair Broadcast Group and gave the company a “buy” rating in a research report on Tuesday, January 16th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $46.00.
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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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