Nationwide Fund Advisors decreased its stake in shares of Sinclair Broadcast Group Inc. (NASDAQ:SBGI) by 5.1% during the second quarter, Holdings Channel reports. The fund owned 84,104 shares of the company’s stock after selling 4,516 shares during the period. Nationwide Fund Advisors owned 0.09% of Sinclair Broadcast Group worth $2,511,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Aperio Group LLC boosted its stake in shares of Sinclair Broadcast Group by 4.1% in the first quarter. Aperio Group LLC now owns 27,446 shares of the company’s stock valued at $844,000 after buying an additional 1,078 shares during the last quarter. Ngam Advisors L.P. acquired a new stake in shares of Sinclair Broadcast Group during the first quarter valued at approximately $536,000. Teachers Advisors Inc. boosted its stake in shares of Sinclair Broadcast Group by 1.5% in the first quarter. Teachers Advisors Inc. now owns 122,624 shares of the company’s stock valued at $3,771,000 after buying an additional 1,852 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Sinclair Broadcast Group by 1,736.6% in the first quarter. Prudential Financial Inc. now owns 118,661 shares of the company’s stock valued at $3,649,000 after buying an additional 112,200 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new stake in shares of Sinclair Broadcast Group during the first quarter valued at approximately $2,698,000. Institutional investors and hedge funds own 69.55% of the company’s stock.
Sinclair Broadcast Group Inc. (NASDAQ:SBGI) traded down 1.90% during trading on Monday, hitting $27.92. 197,694 shares of the stock traded hands. The stock has a market cap of $2.64 billion, a P/E ratio of 15.26 and a beta of 1.83. The firm’s 50-day moving average is $28.39 and its 200-day moving average is $30.12. Sinclair Broadcast Group Inc. has a 12 month low of $25.70 and a 12 month high of $35.89.
Sinclair Broadcast Group (NASDAQ:SBGI) last announced its earnings results on Wednesday, August 3rd. The company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. The business had revenue of $666.50 million for the quarter, compared to analyst estimates of $658.61 million. Sinclair Broadcast Group had a net margin of 7.28% and a return on equity of 34.76%. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share. On average, analysts forecast that Sinclair Broadcast Group Inc. will post $2.90 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Tuesday, August 30th. Sinclair Broadcast Group’s dividend payout ratio is presently 39.34%.
Several analysts have commented on SBGI shares. Zacks Investment Research cut shares of Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research note on Friday, July 15th. Wedbush cut their target price on shares of Sinclair Broadcast Group from $37.00 to $36.00 and set an “outperform” rating for the company in a report on Tuesday, September 27th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Sinclair Broadcast Group has an average rating of “Buy” and a consensus target price of $37.42.
In related news, Director Lawrence E. Mccanna sold 2,000 shares of the stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $28.63, for a total transaction of $57,260.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate 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.
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