Sinclair Broadcast Group (NASDAQ:SBGI)‘s stock had its “buy” rating restated by equities research analysts at Royal Bank of Canada in a report released on Thursday.
SBGI has been the subject of a number of other reports. ValuEngine lowered shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. B. Riley boosted their price objective on shares of Sinclair Broadcast Group from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, November 27th. BidaskClub lowered shares of Sinclair Broadcast Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Stephens set a $47.00 price objective on shares of Sinclair Broadcast Group and gave the stock a “buy” rating in a report on Tuesday, January 16th. Finally, Zacks Investment Research upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Tuesday, January 30th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $46.64.
Shares of Sinclair Broadcast Group (SBGI) opened at $33.38 on Thursday. Sinclair Broadcast Group has a 1 year low of $26.70 and a 1 year high of $43.05. The stock has a market cap of $3,667.76, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 1.94 and a beta of 1.80. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.74 and a current ratio of 1.74.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Xact Kapitalforvaltning AB purchased a new position in shares of Sinclair Broadcast Group in the fourth quarter worth $275,000. Phocas Financial Corp. increased its stake in shares of Sinclair Broadcast Group by 20.0% in the fourth quarter. Phocas Financial Corp. now owns 466,689 shares of the company’s stock worth $17,664,000 after buying an additional 77,734 shares during the period. MetLife Investment Advisors LLC purchased a new position in shares of Sinclair Broadcast Group in the fourth quarter worth $1,211,000. Sound Point Capital Management LP increased its stake in shares of Sinclair Broadcast Group by 36.4% in the fourth quarter. Sound Point Capital Management LP now owns 471,792 shares of the company’s stock worth $17,857,000 after buying an additional 125,954 shares during the period. Finally, Belpointe Asset Management LLC purchased a new position in shares of Sinclair Broadcast Group in the fourth quarter worth $566,000. 81.60% of the stock is currently owned by institutional investors.
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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.
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