Boston Advisors LLC reduced its stake in shares of Sinclair Broadcast Group Inc. (NASDAQ:SBGI) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 358,746 shares of the company’s stock after selling 10,007 shares during the period. Boston Advisors LLC’s holdings in Sinclair Broadcast Group were worth $10,712,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of SBGI. Bank of Montreal Can purchased a new position in Sinclair Broadcast Group during the second quarter valued at approximately $7,599,000. Adams Diversified Equity Fund Inc. purchased a new position in Sinclair Broadcast Group during the second quarter valued at approximately $382,000. Fox Run Management L.L.C. purchased a new position in Sinclair Broadcast Group during the second quarter valued at approximately $236,000. Origin Asset Management LLP increased its position in Sinclair Broadcast Group by 100.4% in the first quarter. Origin Asset Management LLP now owns 406,074 shares of the company’s stock valued at $12,487,000 after buying an additional 203,392 shares during the last quarter. Finally, BlueMountain Capital Management LLC purchased a new position in Sinclair Broadcast Group during the first quarter valued at approximately $571,000. 69.55% of the stock is currently owned by institutional investors.
Shares of Sinclair Broadcast Group Inc. (NASDAQ:SBGI) traded up 1.28% during midday trading on Monday, reaching $27.65. The company had a trading volume of 1,261,991 shares. The firm has a market capitalization of $2.61 billion, a P/E ratio of 15.11 and a beta of 1.78. Sinclair Broadcast Group Inc. has a one year low of $24.80 and a one year high of $35.89. The company has a 50 day moving average price of $28.56 and a 200-day moving average price of $30.35.
Sinclair Broadcast Group (NASDAQ:SBGI) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52. The business earned $666.50 million during the quarter, compared to the consensus estimate of $658.61 million. Sinclair Broadcast Group had a return on equity of 34.76% and a net margin of 7.28%. The company’s quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. On average, analysts anticipate that Sinclair Broadcast Group Inc. will post $2.92 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.72 annualized dividend and a dividend yield of 2.60%. Sinclair Broadcast Group’s dividend payout ratio is currently 39.34%.
Separately, Zacks Investment Research raised Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 6th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $37.59.
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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