TIAA CREF Investment Management LLC Sells 63,336 Shares of Sinclair Broadcast Group Inc (SBGI)

TIAA CREF Investment Management LLC lowered its position in shares of Sinclair Broadcast Group Inc (NASDAQ:SBGI) by 18.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 279,617 shares of the company’s stock after selling 63,336 shares during the period. TIAA CREF Investment Management LLC’s holdings in Sinclair Broadcast Group were worth $10,584,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. OppenheimerFunds Inc. raised its position in Sinclair Broadcast Group by 32.6% during the 4th quarter. OppenheimerFunds Inc. now owns 2,874,958 shares of the company’s stock worth $108,817,000 after buying an additional 706,386 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Sinclair Broadcast Group by 7.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,078,562 shares of the company’s stock worth $66,615,000 after buying an additional 140,286 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Sinclair Broadcast Group by 5.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,042,560 shares of the company’s stock worth $39,461,000 after buying an additional 51,583 shares during the last quarter. Penn Capital Management Co. Inc. raised its position in Sinclair Broadcast Group by 7.1% during the 4th quarter. Penn Capital Management Co. Inc. now owns 614,825 shares of the company’s stock worth $23,346,000 after buying an additional 40,702 shares during the last quarter. Finally, Brigade Capital Management LP raised its position in Sinclair Broadcast Group by 50.0% during the 4th quarter. Brigade Capital Management LP now owns 600,000 shares of the company’s stock worth $22,710,000 after buying an additional 200,000 shares during the last quarter. Institutional investors own 87.22% of the company’s stock.

How to Become a New Pot Stock Millionaire

Shares of SBGI opened at $29.95 on Friday. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 2.53. The stock has a market capitalization of $3,047.38, a PE ratio of 10.70, a P/E/G ratio of 1.45 and a beta of 1.64. Sinclair Broadcast Group Inc has a 52-week low of $26.70 and a 52-week high of $41.20.

Sinclair Broadcast Group (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $1.07. The business had revenue of $734.00 million during the quarter, compared to the consensus estimate of $733.41 million. Sinclair Broadcast Group had a net margin of 21.07% and a return on equity of 22.76%. The business’s revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.32 EPS. equities research analysts forecast that Sinclair Broadcast Group Inc will post 3.53 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Stockholders of record on Friday, March 9th were issued a $0.18 dividend. The ex-dividend date was Thursday, March 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.40%. Sinclair Broadcast Group’s dividend payout ratio is presently 25.71%.

SBGI has been the subject of a number of analyst reports. BidaskClub upgraded shares of Sinclair Broadcast Group from a “strong sell” rating to a “sell” rating in a research report on Tuesday, March 27th. Stephens set a $47.00 price objective on shares of Sinclair Broadcast Group and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Zacks Investment Research downgraded shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a research report on Friday, February 9th. Royal Bank of Canada restated a “buy” rating on shares of Sinclair Broadcast Group in a research report on Thursday, March 1st. Finally, Jefferies Group initiated coverage on shares of Sinclair Broadcast Group in a research report on Thursday, December 14th. They set a “buy” rating and a $48.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. Sinclair Broadcast Group presently has a consensus rating of “Buy” and a consensus price target of $46.64.

COPYRIGHT VIOLATION WARNING: This news story was originally published by Ticker Report and is owned by of Ticker Report. If you are viewing this news story on another website, it was illegally stolen and republished in violation of United States & international trademark and copyright law. The legal version of this news story can be viewed at https://www.tickerreport.com/banking-finance/3337788/tiaa-cref-investment-management-llc-sells-63336-shares-of-sinclair-broadcast-group-inc-sbgi.html.

About Sinclair Broadcast Group

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.

Want to see what other hedge funds are holding SBGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sinclair Broadcast Group Inc (NASDAQ:SBGI).

Institutional Ownership by Quarter for Sinclair Broadcast Group (NASDAQ:SBGI)

Receive News & Ratings for Sinclair Broadcast Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sinclair Broadcast Group and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Umpqua  – Analysts’ Recent Ratings Changes
Umpqua – Analysts’ Recent Ratings Changes
Unify Price Reaches $0.0654 on Exchanges
Unify Price Reaches $0.0654 on Exchanges
ELTCOIN Price Up 13.1% Over Last 7 Days
ELTCOIN Price Up 13.1% Over Last 7 Days
Reviewing National Oilwell Varco  & Solaris Oilfield Infra
Reviewing National Oilwell Varco & Solaris Oilfield Infra
Builders FirstSource  & Building Materials  Critical Comparison
Builders FirstSource & Building Materials Critical Comparison
Evraz  & The Competition Head to Head Contrast
Evraz & The Competition Head to Head Contrast


© 2006-2018 Ticker Report. Google+.