BNP Paribas Arbitrage SA increased its position in Sinclair Broadcast Group Inc. (NASDAQ:SBGI) by 107.6% during the third quarter, Holdings Channel reports. The firm owned 5,779 shares of the company’s stock after buying an additional 2,995 shares during the period. BNP Paribas Arbitrage SA’s holdings in Sinclair Broadcast Group were worth $167,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Sinclair Broadcast Group by 65.2% in the first quarter. BlackRock Inc. now owns 4,526 shares of the company’s stock worth $139,000 after buying an additional 1,787 shares during the period. Pacer Advisors Inc. acquired a new position in shares of Sinclair Broadcast Group during the second quarter valued at $146,000. Tower Research Capital LLC TRC acquired a new position in shares of Sinclair Broadcast Group during the second quarter valued at $156,000. Fox Run Management L.L.C. acquired a new position in shares of Sinclair Broadcast Group during the second quarter valued at $236,000. Finally, Brown Advisory Inc. boosted its position in shares of Sinclair Broadcast Group by 3.8% in the second quarter. Brown Advisory Inc. now owns 8,289 shares of the company’s stock valued at $247,000 after buying an additional 304 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.
Sinclair Broadcast Group Inc. (NASDAQ:SBGI) opened at 28.46 on Friday. 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 52-week low of $25.70 and a 52-week high of $35.89. The company has a market cap of $2.69 billion, a PE ratio of 15.55 and a beta of 1.83.
Sinclair Broadcast Group (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52. Sinclair Broadcast Group had a net margin of 7.28% and a return on equity of 34.76%. The firm had revenue of $666.50 million for the quarter, compared to analysts’ expectations of $658.61 million. During the same quarter in the previous year, the company earned $0.48 earnings per share. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. Analysts forecast that Sinclair Broadcast Group Inc. will post $2.90 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date was Tuesday, August 30th. Sinclair Broadcast Group’s payout ratio is 39.34%.
Several equities analysts recently weighed in on SBGI shares. Wedbush dropped their price target on shares of 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 raised shares of Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 6th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Sinclair Broadcast Group presently has an average rating of “Buy” and an average price target of $37.42.
In related news, Director Lawrence E. Mccanna sold 2,000 shares of the business’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $28.63, for a total transaction of $57,260.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 29.70% of the stock is currently owned by company insiders.
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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