Seizert Capital Partners LLC bought a new stake in shares of Sinclair Broadcast Group Inc (NASDAQ:SBGI) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 37,705 shares of the company’s stock, valued at approximately $2,022,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Commonwealth Equity Services LLC grew its stake in Sinclair Broadcast Group by 3.6% during the second quarter. Commonwealth Equity Services LLC now owns 7,880 shares of the company’s stock valued at $422,000 after acquiring an additional 275 shares in the last quarter. Advisors Preferred LLC purchased a new position in Sinclair Broadcast Group during the second quarter valued at $37,000. BNP Paribas Arbitrage SA grew its stake in Sinclair Broadcast Group by 1.9% during the first quarter. BNP Paribas Arbitrage SA now owns 56,694 shares of the company’s stock valued at $2,182,000 after acquiring an additional 1,045 shares in the last quarter. Meeder Asset Management Inc. grew its stake in Sinclair Broadcast Group by 766.7% during the second quarter. Meeder Asset Management Inc. now owns 1,300 shares of the company’s stock valued at $70,000 after acquiring an additional 1,150 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Sinclair Broadcast Group by 1.3% during the first quarter. Rhumbline Advisers now owns 104,873 shares of the company’s stock valued at $4,036,000 after acquiring an additional 1,382 shares in the last quarter. 67.14% of the stock is owned by institutional investors.
In related news, COO Steven M. Marks sold 3,000 shares of Sinclair Broadcast Group stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $53.78, for a total transaction of $161,340.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David D. Smith purchased 395,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were purchased at an average cost of $55.10 per share, with a total value of $21,764,500.00. The disclosure for this purchase can be found here. Company insiders own 32.30% of the company’s stock.
Sinclair Broadcast Group (NASDAQ:SBGI) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. Sinclair Broadcast Group had a net margin of 10.60% and a return on equity of 23.05%. The business had revenue of $771.00 million during the quarter, compared to analysts’ expectations of $764.48 million. During the same period last year, the company posted $0.27 EPS. The business’s revenue was up 5.6% on a year-over-year basis. On average, equities research analysts forecast that Sinclair Broadcast Group Inc will post 2.47 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.86%. Sinclair Broadcast Group’s payout ratio is currently 23.88%.
Several research firms recently weighed in on SBGI. B. Riley cut their target price on shares of Sinclair Broadcast Group from $70.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. BidaskClub cut shares of Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research note on Saturday. Evercore ISI set a $50.00 price objective on shares of Sinclair Broadcast Group and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Stephens set a $80.00 price objective on shares of Sinclair Broadcast Group and gave the stock a “buy” rating in a research note on Wednesday. Finally, Zacks Investment Research cut shares of Sinclair Broadcast Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $56.00.
Sinclair Broadcast Group 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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