Selz Capital LLC bought a new position in Sinclair Broadcast Group Inc (NASDAQ:SBGI) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 247,000 shares of the company’s stock, valued at approximately $10,556,000. Sinclair Broadcast Group accounts for 2.7% of Selz Capital LLC’s holdings, making the stock its 12th biggest holding. Selz Capital LLC owned 0.27% of Sinclair Broadcast Group at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the business. Commonwealth Equity Services LLC lifted its holdings in shares of Sinclair Broadcast Group by 3.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 7,880 shares of the company’s stock worth $422,000 after buying an additional 275 shares during the period. Advisors Preferred LLC purchased a new stake in shares of Sinclair Broadcast Group during the 2nd quarter worth $37,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Sinclair Broadcast Group during the 2nd quarter worth $39,000. Meeder Asset Management Inc. lifted its stake in shares of Sinclair Broadcast Group by 766.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,300 shares of the company’s stock worth $70,000 after purchasing an additional 1,150 shares during the last quarter. Finally, Sun Life Financial INC purchased a new stake in shares of Sinclair Broadcast Group during the 2nd quarter worth $72,000. Institutional investors and hedge funds own 64.79% of the company’s stock.
SBGI has been the subject of a number of analyst reports. BidaskClub cut Sinclair Broadcast Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Cannonball Research initiated coverage on Sinclair Broadcast Group in a research note on Monday, September 9th. They set a “hold” rating and a $44.00 price objective for the company. Benchmark restated a “buy” rating and set a $80.00 price objective (down from $90.00) on shares of Sinclair Broadcast Group in a research note on Thursday, August 8th. Zacks Investment Research cut Sinclair Broadcast Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 9th. Finally, Stephens set a $80.00 price objective on Sinclair Broadcast Group and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $56.50.
NASDAQ:SBGI traded up $0.72 during mid-day trading on Friday, hitting $40.97. 260,756 shares of the company’s stock traded hands, compared to its average volume of 770,731. The company has a fifty day moving average of $43.06 and a 200 day moving average of $48.62. Sinclair Broadcast Group Inc has a twelve month low of $25.14 and a twelve month high of $66.57. The company has a market capitalization of $3.78 billion, a P/E ratio of 12.23 and a beta of 1.18. The company has a debt-to-equity ratio of 2.59, a quick ratio of 3.11 and a current ratio of 3.11.
Sinclair Broadcast Group (NASDAQ:SBGI) last announced its earnings results on Wednesday, August 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.04. Sinclair Broadcast Group had a return on equity of 23.05% and a net margin of 10.60%. The company had revenue of $771.00 million for the quarter, compared to analyst estimates of $764.48 million. During the same period in the prior year, the company posted $0.27 EPS. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, research analysts expect that Sinclair Broadcast Group Inc will post 2.31 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.95%. The ex-dividend date was Thursday, August 29th. Sinclair Broadcast Group’s dividend payout ratio is currently 23.88%.
Sinclair Broadcast Group Company Profile
Sinclair Broadcast Group, Inc operates as a television broadcasting company in the United States. It owns or provides various programming, operating, sales, and other non-programming operating services to television stations. The company broadcasts free over-the-air programming, such as network provided programs, locally-produced news, local sporting events, programming from program service arrangements, syndicated entertainment programs, and internally originated programming to television viewing audiences in the communities through its local television stations.
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