Advisor Group Inc. lifted its stake in Sinclair Broadcast Group Inc (NASDAQ:SBGI) by 102.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,251 shares of the company’s stock after purchasing an additional 1,643 shares during the quarter. Advisor Group Inc.’s holdings in Sinclair Broadcast Group were worth $124,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Sinclair Broadcast Group by 28.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,843 shares of the company’s stock valued at $259,000 after purchasing an additional 1,497 shares during the last quarter. Aperio Group LLC increased its holdings in shares of Sinclair Broadcast Group by 14.8% in the fourth quarter. Aperio Group LLC now owns 13,748 shares of the company’s stock valued at $520,000 after purchasing an additional 1,769 shares during the last quarter. MML Investors Services LLC increased its holdings in shares of Sinclair Broadcast Group by 33.6% in the fourth quarter. MML Investors Services LLC now owns 10,030 shares of the company’s stock valued at $380,000 after purchasing an additional 2,523 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of Sinclair Broadcast Group by 41.7% in the third quarter. Great West Life Assurance Co. Can now owns 9,988 shares of the company’s stock valued at $309,000 after purchasing an additional 2,941 shares during the last quarter. Finally, Strs Ohio increased its stake in Sinclair Broadcast Group by 0.8% during the fourth quarter. Strs Ohio now owns 378,900 shares of the company’s stock worth $14,341,000 after acquiring an additional 3,100 shares during the last quarter. 87.22% of the stock is owned by hedge funds and other institutional investors.
SBGI has been the subject of several recent analyst reports. BidaskClub cut Sinclair Broadcast Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 21st. Zacks Investment Research cut Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. ValuEngine raised Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Jefferies Group initiated coverage on Sinclair Broadcast Group in a research note on Thursday, December 14th. They set a “buy” rating and a $48.00 target price for the company. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Sinclair Broadcast Group in a research note on Thursday, March 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $46.64.
SBGI opened at $29.30 on Wednesday. Sinclair Broadcast Group Inc has a 52 week low of $26.70 and a 52 week high of $41.20. The firm has a market cap of $3,047.38, a PE ratio of 10.46, a PEG ratio of 1.45 and a beta of 1.64. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 2.53.
Sinclair Broadcast Group (NASDAQ:SBGI) last released its quarterly earnings results on Wednesday, February 28th. The company reported $1.67 EPS for the quarter, topping the consensus estimate 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 business had revenue of $734.00 million during the quarter, compared to analyst estimates of $733.41 million. During the same period last year, the business posted $1.32 earnings per share. The company’s quarterly revenue was down 8.0% on a year-over-year basis. equities research analysts predict that Sinclair Broadcast Group Inc will post 3.53 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Stockholders of record on Friday, March 9th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $0.72 annualized dividend and a dividend yield of 2.46%. Sinclair Broadcast Group’s dividend payout ratio is currently 25.71%.
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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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