Zacks Investment Research downgraded shares of Sinclair Broadcast Group (NASDAQ:SBGI) from a buy rating to a hold rating in a report released on Friday, February 9th. The firm currently has $40.00 target price on the stock.
According to Zacks, “Sinclair Broadcast Group is a diversified broadcasting company that owns or provides programming services pursuant to local marketing agreements to more television stations than any other commercial broadcasting group in the United States. “
Other equities research analysts have also recently issued reports about the company. B. Riley increased their price objective on Sinclair Broadcast Group from $43.00 to $45.00 and gave the company a buy rating in a research report on Thursday, November 2nd. FBR & Co started coverage on Sinclair Broadcast Group in a research report on Tuesday, October 31st. They issued a buy rating and a $43.00 price objective for the company. BidaskClub cut Sinclair Broadcast Group from a buy rating to a hold rating in a research report on Wednesday, January 10th. Deutsche Bank assumed coverage on Sinclair Broadcast Group in a research report on Friday, October 20th. They issued a buy rating and a $46.00 target price for the company. Finally, Jefferies Group began coverage on Sinclair Broadcast Group in a report on Thursday, December 14th. They set a buy rating and a $48.00 price objective for the company. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Sinclair Broadcast Group presently has a consensus rating of Buy and a consensus price target of $46.00.
Sinclair Broadcast Group (SBGI) traded up $0.60 during trading hours on Friday, reaching $37.25. The company had a trading volume of 1,335,900 shares, compared to its average volume of 1,528,753. Sinclair Broadcast Group has a 12-month low of $26.70 and a 12-month high of $43.05. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 3.51. The firm has a market capitalization of $3,728.81, a P/E ratio of 13.63, a P/E/G ratio of 2.00 and a beta of 1.80.
Several large investors have recently added to or reduced their stakes in SBGI. Advisor Group Inc. lifted its stake in Sinclair Broadcast Group by 102.2% in the 4th quarter. Advisor Group Inc. now owns 3,251 shares of the company’s stock valued at $124,000 after acquiring an additional 1,643 shares in the last quarter. FNY Managed Accounts LLC acquired a new position in shares of Sinclair Broadcast Group during the 3rd quarter worth approximately $153,000. Cheyne Capital Management UK LLP acquired a new position in shares of Sinclair Broadcast Group during the 3rd quarter worth approximately $170,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Sinclair Broadcast Group by 68.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,346 shares of the company’s stock worth $171,000 after purchasing an additional 2,176 shares during the last quarter. Finally, Parametrica Management Ltd acquired a new position in shares of Sinclair Broadcast Group during the 4th quarter worth approximately $207,000. Institutional investors and hedge funds own 84.93% of the company’s stock.
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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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