Sinclair Broadcast Group Inc (SBGI) Shares Sold by Edge Asset Management Inc.

Sinclair Broadcast Group Inc (SBGI) Shares Sold by Edge Asset Management Inc.

Several other large investors also recently made changes to their positions in SBGI. Quadrature Capital Ltd bought a new stake in shares of Sinclair Broadcast Group during the fourth quarter valued at about $939,000. Corsair Capital Management L.P. raised its stake in shares of Sinclair Broadcast Group by 21.7% in the third quarter. Corsair Capital Management L.P. now owns 572,681 shares of the company’s stock valued at $16,530,000 after buying an additional 102,111 shares during the period. TCW Group Inc. raised its stake in shares of Sinclair Broadcast Group by 590.2% in the fourth quarter. TCW Group Inc. now owns 165,148 shares of the company’s stock valued at $5,507,000 after buying an additional 141,220 shares during the period. UBS Oconnor LLC raised its stake in shares of Sinclair Broadcast Group by 294.5% in the third quarter. UBS Oconnor LLC now owns 607,750 shares of the company’s stock valued at $17,552,000 after buying an additional 453,675 shares during the period. Finally, Northern Capital Management LLC raised its stake in shares of Sinclair Broadcast Group by 43.2% in the third quarter. Northern Capital Management LLC now owns 76,175 shares of the company’s stock valued at $2,200,000 after buying an additional 22,985 shares during the period. 71.96% of the stock is currently owned by institutional investors.

Edge Asset Management Inc. lowered its stake in shares of Sinclair Broadcast Group Inc (NASDAQ:SBGI) by 6.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,290,521 shares of the company’s stock after selling 147,103 shares during the period. Edge Asset Management Inc.’s holdings in Sinclair Broadcast Group were worth $92,767,000 as of its most recent filing with the SEC.

Sinclair Broadcast Group Inc (NASDAQ SBGI) traded down 1.86% during midday trading on Tuesday, reaching $32.75. 2,442,116 shares of the company’s stock were exchanged. The stock has a market cap of $3.36 billion, a PE ratio of 11.04 and a beta of 1.78. The firm has a 50 day moving average of $37.02 and a 200-day moving average of $35.62. Sinclair Broadcast Group Inc has a 12 month low of $24.15 and a 12 month high of $43.05.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $646.94 million. Sinclair Broadcast Group had a net margin of 7.16% and a return on equity of 38.65%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. On average, equities research analysts predict that Sinclair Broadcast Group Inc will post $2.04 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, May 30th. Sinclair Broadcast Group’s dividend payout ratio (DPR) is presently 37.50%.

Several equities research analysts recently issued reports on SBGI shares. Benchmark Co. lifted their price target on shares of Sinclair Broadcast Group from $45.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, May 4th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Sinclair Broadcast Group in a report on Monday, March 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $47.00 price target (up from $43.00) on shares of Sinclair Broadcast Group in a report on Thursday, February 23rd. Wedbush lifted their price target on shares of Sinclair Broadcast Group from $36.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, February 23rd. Finally, Zacks Investment Research lowered shares of Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. Sinclair Broadcast Group currently has an average rating of “Buy” and a consensus target price of $44.50.

In other Sinclair Broadcast Group news, Vice Chairman David B. Amy sold 28,000 shares of Sinclair Broadcast Group stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $40.87, for a total transaction of $1,144,360.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David D. Smith purchased 4,400 shares of the firm’s stock in a transaction on Friday, May 5th. The shares were acquired at an average cost of $36.77 per share, for a total transaction of $161,788.00. The disclosure for this purchase can be found here. Insiders have sold 55,359 shares of company stock worth $2,272,496 over the last three months. Insiders own 29.70% 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SBGI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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