Sinclair Broadcast Group Inc (NASDAQ:SBGI) insider David D. Smith bought 395,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were acquired at an average cost of $55.10 per share, for a total transaction of $21,764,500.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.
NASDAQ:SBGI opened at $58.92 on Friday. The stock’s 50 day moving average price is $54.10. The stock has a market cap of $5.39 billion, a P/E ratio of 17.59 and a beta of 1.15. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 2.66. Sinclair Broadcast Group Inc has a 52-week low of $25.13 and a 52-week high of $66.57.
Sinclair Broadcast Group (NASDAQ:SBGI) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.16). The firm had revenue of $722.10 million for the quarter, compared to analysts’ expectations of $707.94 million. Sinclair Broadcast Group had a return on equity of 20.45% and a net margin of 10.28%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 EPS. Equities research analysts predict that Sinclair Broadcast Group Inc will post 2.76 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.80 dividend on an annualized basis and a yield of 1.36%. Sinclair Broadcast Group’s dividend payout ratio is presently 23.88%.
Several equities research analysts have recently weighed in on SBGI shares. Evercore ISI reissued a “hold” rating and set a $80.00 target price on shares of Fortinet in a research report on Tuesday, May 7th. Wolfe Research raised Sinclair Broadcast Group from an “underperform” rating to an “outperform” rating in a research report on Wednesday, April 3rd. Zacks Investment Research raised DLH from a “sell” rating to a “hold” rating in a research report on Tuesday. B. Riley raised their target price on Airgain from $19.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, ValuEngine lowered Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $48.67.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Sinclair Broadcast Group by 1.6% during the 4th quarter. BlackRock Inc. now owns 5,190,505 shares of the company’s stock worth $136,718,000 after buying an additional 82,886 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Sinclair Broadcast Group by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,181,634 shares of the company’s stock worth $83,805,000 after buying an additional 27,711 shares during the last quarter. Norges Bank purchased a new position in Sinclair Broadcast Group during the 4th quarter worth approximately $37,682,000. JPMorgan Chase & Co. grew its stake in Sinclair Broadcast Group by 33.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,280,500 shares of the company’s stock worth $49,274,000 after buying an additional 317,424 shares during the last quarter. Finally, AJO LP grew its stake in Sinclair Broadcast Group by 964.8% during the 1st quarter. AJO LP now owns 1,136,315 shares of the company’s stock worth $43,725,000 after buying an additional 1,029,595 shares during the last quarter. Hedge funds and other institutional investors own 65.00% of the company’s stock.
Sinclair Broadcast Group Company Profile
Sinclair Broadcast Group, Inc operates as a television broadcasting company in the United States. It owns or provides various programming, operating, sales, and other non-programming operating services to television stations. The company broadcasts free over-the-air programming, such as network provided programs, locally-produced news, local sporting events, programming from program service arrangements, syndicated entertainment programs, and internally originated programming to television viewing audiences in the communities through its local television stations.
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