Gamco Investors INC. ET AL Acquires 8,350 Shares of Sinclair Broadcast Group, Inc. (SBGI)

Gamco Investors INC. ET AL grew its holdings in shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) by 3.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 238,750 shares of the company’s stock after purchasing an additional 8,350 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.23% of Sinclair Broadcast Group worth $7,652,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Chicago Equity Partners LLC boosted its stake in Sinclair Broadcast Group by 106.5% during the 3rd quarter. Chicago Equity Partners LLC now owns 46,700 shares of the company’s stock worth $1,497,000 after purchasing an additional 24,085 shares during the last quarter. Emerald Advisers Inc. PA boosted its stake in Sinclair Broadcast Group by 10.3% during the 3rd quarter. Emerald Advisers Inc. PA now owns 72,084 shares of the company’s stock worth $2,310,000 after purchasing an additional 6,757 shares during the last quarter. Strs Ohio boosted its stake in Sinclair Broadcast Group by 9,065.9% during the 3rd quarter. Strs Ohio now owns 375,800 shares of the company’s stock worth $12,044,000 after purchasing an additional 371,700 shares during the last quarter. Trellus Management Company LLC acquired a new stake in Sinclair Broadcast Group during the 3rd quarter worth $962,000. Finally, Phocas Financial Corp. boosted its stake in Sinclair Broadcast Group by 4.7% during the 2nd quarter. Phocas Financial Corp. now owns 380,489 shares of the company’s stock worth $12,518,000 after purchasing an additional 16,978 shares during the last quarter. 81.21% of the stock is currently owned by institutional investors.

Sinclair Broadcast Group, Inc. (SBGI) opened at $31.75 on Friday. Sinclair Broadcast Group, Inc. has a 1 year low of $26.70 and a 1 year high of $43.05. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.74 and a quick ratio of 2.65. The company has a market cap of $3,260.69, a PE ratio of 13.40, a price-to-earnings-growth ratio of 7.94 and a beta of 1.92.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its earnings results on Wednesday, November 1st. The company reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.13). Sinclair Broadcast Group had a net margin of 9.06% and a return on equity of 23.27%. The company had revenue of $670.90 million during the quarter, compared to analyst estimates of $671.42 million. During the same period in the previous year, the company earned $0.54 EPS. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. equities research analysts forecast that Sinclair Broadcast Group, Inc. will post 2 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.18 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.72 dividend on an annualized basis and a yield of 2.27%. Sinclair Broadcast Group’s payout ratio is currently 27.07%.

Several brokerages have recently weighed in on SBGI. Wells Fargo & Company reissued an “outperform” rating and set a $55.00 price target on shares of Sinclair Broadcast Group in a research report on Monday, October 2nd. Zacks Investment Research cut shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Ameriprise Financial reissued a “buy” rating and set a $45.00 price target (up previously from $43.00) on shares of Sinclair Broadcast Group in a research report on Friday, November 3rd. Benchmark Co. boosted their price target on shares of Sinclair Broadcast Group from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Finally, ValuEngine raised shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Sinclair Broadcast Group currently has an average rating of “Buy” and a consensus target price of $44.82.

In other Sinclair Broadcast Group news, Director Howard E. Friedman sold 1,010 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $31.98, for a total value of $32,299.80. Following the transaction, the director now owns 10,990 shares of the company’s stock, valued at $351,460.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 28.20% of the company’s stock.

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Sinclair Broadcast Group 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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