Stratos Wealth Partners LTD. lowered its stake in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) by 0.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 10,520 shares of the company’s stock after selling 32 shares during the period. Stratos Wealth Partners LTD.’s holdings in Sinclair Broadcast Group were worth $346,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in Sinclair Broadcast Group by 60.2% in the first quarter. American Century Companies Inc. now owns 40,918 shares of the company’s stock valued at $1,657,000 after buying an additional 15,384 shares during the period. Algert Global LLC purchased a new position in Sinclair Broadcast Group during the first quarter valued at $2,291,000. First Trust Advisors LP boosted its position in Sinclair Broadcast Group by 226.0% in the first quarter. First Trust Advisors LP now owns 48,933 shares of the company’s stock valued at $1,982,000 after buying an additional 33,925 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Sinclair Broadcast Group by 13.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 46,680 shares of the company’s stock valued at $1,891,000 after buying an additional 5,414 shares during the period. Finally, LSV Asset Management boosted its position in Sinclair Broadcast Group by 1,504.8% in the first quarter. LSV Asset Management now owns 70,609 shares of the company’s stock valued at $2,859,000 after buying an additional 66,209 shares during the period. Institutional investors and hedge funds own 76.91% of the company’s stock.
Shares of Sinclair Broadcast Group, Inc. (SBGI) traded down 0.17% during mid-day trading on Friday, reaching $29.70. 1,240,512 shares of the company’s stock traded hands. Sinclair Broadcast Group, Inc. has a 12-month low of $24.15 and a 12-month high of $43.05. The firm’s 50 day moving average price is $32.98 and its 200-day moving average price is $36.06. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 10.41 and a beta of 1.79.
Sinclair Broadcast Group (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. Sinclair Broadcast Group had a net margin of 9.70% and a return on equity of 32.06%. The firm had revenue of $679.30 million for the quarter, compared to the consensus estimate of $678.23 million. During the same quarter last year, the firm posted $0.52 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts forecast that Sinclair Broadcast Group, Inc. will post $2.01 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Wednesday, August 30th. Sinclair Broadcast Group’s dividend payout ratio (DPR) is presently 24.83%.
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Several research firms recently weighed in on SBGI. Benchmark Co. boosted their price target on shares of Sinclair Broadcast Group from $45.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, May 4th. Zacks Investment Research upgraded shares of Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. ValuEngine upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a report on Tuesday, May 16th. Stephens set a $46.00 price target on shares of Sinclair Broadcast Group and gave the stock a “buy” rating in a report on Saturday, June 3rd. Finally, Royal Bank Of Canada restated a “buy” rating and set a $45.00 price target on shares of Sinclair Broadcast Group in a report on Wednesday, July 5th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $43.50.
In other news, Director Lawrence E. Mccanna sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $34.75, for a total value of $69,500.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 28.20% of the stock is owned by corporate insiders.
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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