Delphi Management Inc. MA grew its holdings in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) by 48,509.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 74,373 shares of the company’s stock after purchasing an additional 74,220 shares during the quarter. Sinclair Broadcast Group accounts for about 1.4% of Delphi Management Inc. MA’s holdings, making the stock its 24th biggest holding. Delphi Management Inc. MA owned about 0.07% of Sinclair Broadcast Group worth $2,447,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Sinclair Broadcast Group by 9.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,170 shares of the company’s stock worth $104,000 after acquiring an additional 273 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Sinclair Broadcast Group by 9.4% in the first quarter. PNC Financial Services Group Inc. now owns 3,230 shares of the company’s stock worth $131,000 after acquiring an additional 278 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Sinclair Broadcast Group in the second quarter worth approximately $141,000. Teacher Retirement System of Texas lifted its stake in Sinclair Broadcast Group by 2.7% in the second quarter. Teacher Retirement System of Texas now owns 6,141 shares of the company’s stock worth $202,000 after acquiring an additional 164 shares during the last quarter. Finally, M&T Bank Corp purchased a new position in Sinclair Broadcast Group in the first quarter worth approximately $213,000. 80.87% of the stock is owned by institutional investors and hedge funds.
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In other news, Director Howard E. Friedman sold 1,010 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $31.98, for a total transaction of $32,299.80. Following the completion of the transaction, the director now directly owns 10,990 shares in the company, valued at approximately $351,460.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 28.20% of the company’s stock.
Shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) traded down 0.48% during mid-day trading on Wednesday, hitting $31.00. 157,378 shares of the stock traded hands. The stock has a market cap of $2.36 billion, a PE ratio of 10.84 and a beta of 1.83. The stock has a 50-day moving average of $29.87 and a 200 day moving average of $33.80. Sinclair Broadcast Group, Inc. has a one year low of $24.15 and a one year high of $43.05.
Sinclair Broadcast Group (NASDAQ:SBGI) last released its earnings results on Wednesday, August 2nd. The company reported $0.43 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. The company had revenue of $679.30 million during the quarter, compared to analysts’ expectations of $678.23 million. Sinclair Broadcast Group had a return on equity of 32.06% and a net margin of 9.70%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 EPS. Equities analysts predict that Sinclair Broadcast Group, Inc. will post $2.01 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Wednesday, August 30th. Sinclair Broadcast Group’s dividend payout ratio (DPR) is currently 24.83%.
A number of research analysts recently issued reports on SBGI shares. Zacks Investment Research upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Wednesday, October 4th. ValuEngine upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Benchmark Co. lifted their price target on shares of Sinclair Broadcast Group from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada reiterated a “buy” rating and issued a $45.00 price target on shares of Sinclair Broadcast Group in a research note on Wednesday, July 5th. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $55.00 price target on shares of Sinclair Broadcast Group in a research note on Monday, October 2nd. Eight investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of $44.86.
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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