Teachers Advisors LLC Acquires 15,204 Shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI)

Teachers Advisors LLC raised its stake in shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) by 11.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,987 shares of the company’s stock after buying an additional 15,204 shares during the period. Teachers Advisors LLC owned approximately 0.16% of Sinclair Broadcast Group worth $5,993,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SBGI. Algert Global LLC acquired a new position in shares of Sinclair Broadcast Group during the first quarter valued at about $2,291,000. First Trust Advisors LP raised its position in shares of Sinclair Broadcast Group by 226.0% in the first quarter. First Trust Advisors LP now owns 48,933 shares of the company’s stock valued at $1,982,000 after buying an additional 33,925 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Sinclair Broadcast Group by 13.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 46,680 shares of the company’s stock valued at $1,891,000 after buying an additional 5,414 shares in the last quarter. LSV Asset Management raised its position in shares of Sinclair Broadcast Group by 1,504.8% in the first quarter. LSV Asset Management now owns 70,609 shares of the company’s stock valued at $2,859,000 after buying an additional 66,209 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of 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 valued at $23,069,000 after buying an additional 544,700 shares in the last quarter. 71.88% of the stock is currently owned by institutional investors.

Shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) opened at 31.35 on Friday. Sinclair Broadcast Group, Inc. has a 52 week low of $24.15 and a 52 week high of $43.05. The stock has a market cap of $3.22 billion, a P/E ratio of 10.99 and a beta of 1.79. The stock has a 50 day moving average price of $33.52 and a 200-day moving average price of $36.18.

Sinclair Broadcast Group (NASDAQ:SBGI) last announced its earnings results on Wednesday, August 2nd. The company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The firm had revenue of $679.30 million for the quarter, compared to the consensus estimate of $678.23 million. Sinclair Broadcast Group had a net margin of 9.70% and a return on equity of 32.06%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. Equities analysts predict that Sinclair Broadcast Group, Inc. will post $2.01 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.72 annualized dividend and a yield of 2.30%. Sinclair Broadcast Group’s dividend payout ratio (DPR) is presently 24.83%.

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Several brokerages recently issued reports on SBGI. Zacks Investment Research lowered Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 19th. Benchmark Co. boosted their price target on Sinclair Broadcast Group from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, May 4th. ValuEngine upgraded Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research note on Tuesday, May 16th. Stephens set a $46.00 price target on Sinclair Broadcast Group and gave the company a “buy” rating in a research note on Saturday, June 3rd. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $45.00 price target on shares of Sinclair Broadcast Group in a research note on Wednesday, July 5th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Sinclair Broadcast Group has an average rating of “Buy” and an average target price of $43.50.

In related news, Director Lawrence E. Mccanna sold 2,000 shares of Sinclair Broadcast Group stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $34.75, for a total value of $69,500.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 28.20% of the company’s stock.

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.

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

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