Phocas Financial Corp. raised its position in Sinclair Broadcast Group Inc (NASDAQ:SBGI) by 20.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 466,689 shares of the company’s stock after acquiring an additional 77,734 shares during the quarter. Sinclair Broadcast Group accounts for about 1.5% of Phocas Financial Corp.’s investment portfolio, making the stock its 6th largest holding. Phocas Financial Corp. owned approximately 0.46% of Sinclair Broadcast Group worth $17,664,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the business. MetLife Investment Advisors LLC acquired a new stake in Sinclair Broadcast Group in the fourth quarter valued at approximately $1,211,000. Sound Point Capital Management LP grew its position in Sinclair Broadcast Group by 36.4% in the fourth quarter. Sound Point Capital Management LP now owns 471,792 shares of the company’s stock valued at $17,857,000 after acquiring an additional 125,954 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in Sinclair Broadcast Group in the fourth quarter valued at approximately $566,000. LPL Financial LLC grew its position in Sinclair Broadcast Group by 11.8% in the fourth quarter. LPL Financial LLC now owns 77,938 shares of the company’s stock valued at $2,950,000 after acquiring an additional 8,215 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in Sinclair Broadcast Group in the fourth quarter valued at approximately $600,000. 87.22% of the stock is owned by institutional investors.
Several brokerages have issued reports on SBGI. Zacks Investment Research downgraded shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. BidaskClub downgraded shares of Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research report on Friday, March 2nd. ValuEngine raised shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. B. Riley decreased their price target on shares of Sinclair Broadcast Group from $53.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, March 1st. Finally, Royal Bank of Canada reissued a “buy” rating and set a $48.00 price target on shares of Sinclair Broadcast Group in a research report on Thursday, January 4th. One research 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 stock presently has a consensus rating of “Buy” and an average target price of $46.64.
Shares of Sinclair Broadcast Group Inc (NASDAQ:SBGI) opened at $31.85 on Tuesday. Sinclair Broadcast Group Inc has a 1 year low of $26.70 and a 1 year high of $41.20. The company has a debt-to-equity ratio of 2.53, a quick ratio of 2.36 and a current ratio of 2.36. The firm has a market cap of $3,276.32, a P/E ratio of 11.84, a PEG ratio of 1.50 and a beta of 1.83.
Sinclair Broadcast Group (NASDAQ:SBGI) last released its quarterly 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 net margin of 21.07% and a return on equity of 22.76%. The business had revenue of $734.00 million during the quarter, compared to the consensus estimate of $733.41 million. During the same quarter last year, the company earned $1.32 earnings per share. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. research analysts expect that Sinclair Broadcast Group Inc will post 3.66 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.26%. The ex-dividend date is Thursday, March 8th. Sinclair Broadcast Group’s dividend payout ratio (DPR) is presently 12.72%.
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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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