Sinclair Broadcast Group, Inc. (SBGI) Stake Reduced by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its position in shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) by 1.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,654,039 shares of the company’s stock after selling 17,850 shares during the period. Dimensional Fund Advisors LP owned approximately 1.83% of Sinclair Broadcast Group worth $66,990,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Independent Portfolio Consultants Inc. boosted its stake in Sinclair Broadcast Group by 2.4% in the first quarter. Independent Portfolio Consultants Inc. now owns 2,575 shares of the company’s stock valued at $104,000 after buying an additional 60 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Sinclair Broadcast Group by 55.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,897 shares of the company’s stock valued at $117,000 after buying an additional 1,036 shares during the last quarter. PNC Financial Services Group Inc. raised its position 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 valued at $131,000 after buying an additional 278 shares during the last quarter. M&T Bank Corp acquired a new position in Sinclair Broadcast Group during the first quarter valued at approximately $213,000. Finally, Teacher Retirement System of Texas purchased a new stake in Sinclair Broadcast Group during the first quarter worth about $242,000. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) traded up 0.96% during midday trading on Friday, hitting $36.75. The company had a trading volume of 1,537,556 shares. The firm has a market capitalization of $3.77 billion, a P/E ratio of 12.39 and a beta of 1.79. 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 is $33.99 and its 200-day moving average is $36.17.

Sinclair Broadcast Group (NASDAQ:SBGI) last issued its quarterly earnings data on Wednesday, May 3rd. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. The firm had revenue of $649.90 million during the quarter, compared to the consensus estimate of $646.94 million. Sinclair Broadcast Group had a return on equity of 39.72% and a net margin of 9.91%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 earnings per share. On average, analysts predict that Sinclair Broadcast Group, Inc. will post $2.04 earnings per share for the current fiscal year.

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SBGI has been the subject of a number of research reports. Benchmark Co. lifted their price objective 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. Stephens set a $46.00 price objective on shares of Sinclair Broadcast Group and gave the company a “buy” rating in a research note on Saturday, June 3rd. ValuEngine upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research note on Tuesday, May 16th. Royal Bank Of Canada restated a “buy” rating and set a $45.00 price objective on shares of Sinclair Broadcast Group in a research note on Wednesday, July 5th. Finally, Zacks Investment Research upgraded shares of Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Sinclair Broadcast Group presently has an average rating of “Buy” and an average target price of $44.40.

In other Sinclair Broadcast Group news, Director Lawrence E. Mccanna sold 2,000 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $34.75, for a total transaction of $69,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David D. Smith acquired 4,400 shares of Sinclair Broadcast Group stock in a transaction on Friday, May 5th. The shares were purchased at an average cost of $36.77 per share, with a total value of $161,788.00. The disclosure for this purchase can be found here. Corporate insiders own 28.20% of the company’s stock.

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.

Institutional Ownership by Quarter for Sinclair Broadcast Group (NASDAQ:SBGI)

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