Airain ltd boosted its stake in shares of Sinclair Broadcast Group Inc (NASDAQ:SBGI) by 961.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,904 shares of the company’s stock after buying an additional 94,117 shares during the period. Airain ltd owned 0.12% of Sinclair Broadcast Group worth $4,208,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Sinclair Broadcast Group during the fourth quarter valued at approximately $31,008,000. FMR LLC increased its position in Sinclair Broadcast Group by 9.7% in the fourth quarter. FMR LLC now owns 7,374,021 shares of the company’s stock worth $245,924,000 after buying an additional 652,514 shares during the period. Canada Pension Plan Investment Board increased its position in Sinclair Broadcast Group by 2,187.6% in the first quarter. Canada Pension Plan Investment Board now owns 569,600 shares of the company’s stock worth $23,069,000 after buying an additional 544,700 shares during the period. UBS Oconnor LLC increased its position in Sinclair Broadcast Group by 294.5% in the third quarter. UBS Oconnor LLC now owns 607,750 shares of the company’s stock worth $17,552,000 after buying an additional 453,675 shares during the period. Finally, Principal Financial Group Inc. increased its position in Sinclair Broadcast Group by 51.2% in the third quarter. Principal Financial Group Inc. now owns 1,289,527 shares of the company’s stock worth $37,241,000 after buying an additional 436,544 shares during the period. Institutional investors own 71.96% of the company’s stock.
Sinclair Broadcast Group Inc (NASDAQ:SBGI) traded up 2.48% during trading on Friday, reaching $33.10. The company’s stock had a trading volume of 1,790,297 shares. The firm has a market cap of $3.40 billion, a PE ratio of 11.16 and a beta of 1.78. The company has a 50-day moving average of $37.87 and a 200 day moving average of $35.38. Sinclair Broadcast Group Inc has a one year low of $24.15 and a one year high of $43.05.
Sinclair Broadcast Group (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, May 3rd. The company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.03. The business had revenue of $649.90 million for the quarter, compared to analysts’ expectations of $646.94 million. Sinclair Broadcast Group had a net margin of 7.16% and a return on equity of 38.65%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share. Analysts expect that Sinclair Broadcast Group Inc will post $2.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Tuesday, May 30th. Sinclair Broadcast Group’s dividend payout ratio (DPR) is presently 37.50%.
ILLEGAL ACTIVITY NOTICE: This news story was reported by Transcript Daily and is owned by of Transcript Daily. If you are viewing this news story on another domain, it was copied illegally and republished in violation of international copyright and trademark legislation. The legal version of this news story can be read at https://transcriptdaily.com/2017/05/20/airain-ltd-increases-position-in-sinclair-broadcast-group-inc-sbgi.html.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a research note on Friday, February 24th. ValuEngine upgraded Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research note on Tuesday. Wedbush lifted their price target on Sinclair Broadcast Group from $36.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, February 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 price target (up previously from $43.00) on shares of Sinclair Broadcast Group in a research note on Thursday, February 23rd. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of Sinclair Broadcast Group in a research note on Monday, March 6th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $44.50.
In other Sinclair Broadcast Group news, VP Barry Faber sold 9,922 shares of the company’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $41.24, for a total value of $409,183.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Lucy Rutishauser sold 2,437 shares of the company’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $41.22, for a total transaction of $100,453.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,359 shares of company stock worth $5,282,046. 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 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.
Receive News & Ratings for Sinclair Broadcast Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sinclair Broadcast Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.