Todays Report: Today, California Public Employees Retirement System Sold shares of Sinclair Broadcast Group Inc. (SBGI)

Today, California Public Employees Retirement System Sold shares of Sinclair Broadcast Group Inc. (SBGI)

California Public Employees Retirement System lowered its position in Sinclair Broadcast Group Inc. (NASDAQ:SBGI) by 5.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 153,100 shares of the company’s stock after selling 9,300 shares during the period. California Public Employees Retirement System owned about 0.16% of Sinclair Broadcast Group worth $4,422,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of SBGI. Hennessy Advisors Inc. raised its stake in shares of Sinclair Broadcast Group by 2.9% in the second quarter. Hennessy Advisors Inc. now owns 1,179,600 shares of the company’s stock worth $35,223,000 after buying an additional 33,800 shares in the last quarter. BlackRock Group LTD raised its stake in shares of Sinclair Broadcast Group by 25.1% in the first quarter. BlackRock Group LTD now owns 41,978 shares of the company’s stock worth $1,290,000 after buying an additional 8,412 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Sinclair Broadcast Group by 9.8% in the second quarter. UBS Asset Management Americas Inc. now owns 43,813 shares of the company’s stock worth $1,309,000 after buying an additional 3,919 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Sinclair Broadcast Group by 3.1% in the second quarter. Vanguard Group Inc. now owns 5,406,277 shares of the company’s stock worth $161,432,000 after buying an additional 161,653 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Sinclair Broadcast Group by 54.1% in the first quarter. Geode Capital Management LLC now owns 673,221 shares of the company’s stock worth $20,701,000 after buying an additional 236,218 shares in the last quarter. 69.62% of the stock is owned by institutional investors.

Sinclair Broadcast Group Inc. (NASDAQ:SBGI) traded up 1.25% during midday trading on Friday, hitting $32.35. The company’s stock had a trading volume of 496,119 shares. The stock has a 50 day moving average of $27.73 and a 200 day moving average of $29.13. The company has a market cap of $2093.24 billion, a PE ratio of 16.94 and a beta of 1.65. Sinclair Broadcast Group Inc. has a 52-week low of $24.15 and a 52-week high of $35.89.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.18. The business had revenue of $693.80 million for the quarter, compared to the consensus estimate of $164.94 million. Sinclair Broadcast Group had a net margin of 7.16% and a return on equity of 38.65%. Sinclair Broadcast Group’s quarterly revenue was up 26.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 EPS. On average, equities analysts expect that Sinclair Broadcast Group Inc. will post $2.66 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.72 dividend on an annualized basis and a yield of 2.23%. Sinclair Broadcast Group’s payout ratio is 37.50%.

SBGI has been the topic of a number of research reports. Wedbush reduced their price objective on Sinclair Broadcast Group from $37.00 to $36.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 27th. Zacks Investment Research upgraded Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 6th. Benchmark Co. restated a “buy” rating and set a $44.00 price objective on shares of Sinclair Broadcast Group in a research report on Thursday, November 3rd. Finally, Stephens upgraded Sinclair Broadcast Group from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 3rd. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Sinclair Broadcast Group presently has an average rating of “Buy” and an average price target of $38.13.

In other Sinclair Broadcast Group news, Director Lawrence E. Mccanna sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $31.97, for a total transaction of $159,850.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company 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 owns or provides certain programming, operating or sales services to television stations in the United States. The Company’s segments include Broadcast, Other and Corporate. The Broadcast segment consists of all of its television stations.

Related posts

Leave a Comment