Aperio Group LLC Has $412,000 Stake in Sinclair Broadcast Group, Inc. (SBGI)
Aperio Group LLC boosted its stake in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) by 7.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,532 shares of the company’s stock after buying an additional 900 shares during the period. Aperio Group LLC’s holdings in Sinclair Broadcast Group were worth $412,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBGI. Independent Portfolio Consultants Inc. increased its position in Sinclair Broadcast Group by 2.4% in the first quarter. Independent Portfolio Consultants Inc. now owns 2,575 shares of the company’s stock valued at $104,000 after buying an additional 60 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Sinclair Broadcast Group by 55.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,897 shares of the company’s stock valued at $117,000 after buying an additional 1,036 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Sinclair Broadcast Group by 9.4% in the first quarter. PNC Financial Services Group Inc. now owns 3,230 shares of the company’s stock valued at $131,000 after buying an additional 278 shares in the last quarter. M&T Bank Corp bought a new stake in Sinclair Broadcast Group during the first quarter valued at approximately $213,000. Finally, New York State Teachers Retirement System bought a new stake in Sinclair Broadcast Group during the first quarter valued at approximately $235,000. 83.10% of the stock is currently owned by institutional investors and hedge funds.
Shares of Sinclair Broadcast Group, Inc. (NASDAQ SBGI) traded down 1.01% during mid-day trading on Tuesday, hitting $29.50. The stock had a trading volume of 152,550 shares. The stock’s 50-day moving average is $32.57 and its 200-day moving average is $35.91. Sinclair Broadcast Group, Inc. has a 1-year low of $24.15 and a 1-year high of $43.05. The firm has a market capitalization of $3.03 billion, a PE ratio of 10.34 and a beta of 1.79.
Sinclair Broadcast Group (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. Sinclair Broadcast Group had a return on equity of 32.06% and a net margin of 9.70%. The business had revenue of $679.30 million during the quarter, compared to analysts’ expectations of $678.23 million. During the same quarter last year, the business posted $0.52 EPS. The business’s revenue was up 2.1% on a year-over-year basis. Equities analysts expect that Sinclair Broadcast Group, Inc. will post $2.01 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Wednesday, August 30th. Sinclair Broadcast Group’s payout ratio is presently 24.83%.
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A number of research firms have issued reports on SBGI. Stephens set a $46.00 target price on shares of Sinclair Broadcast Group and gave the company a “buy” rating in a research note on Saturday, June 3rd. Zacks Investment Research cut shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Benchmark Co. boosted their target price on shares of Sinclair Broadcast Group from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $45.00 target price on shares of Sinclair Broadcast Group in a research report on Wednesday, July 5th. Finally, ValuEngine raised shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 16th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $43.50.
In other news, Director Lawrence E. Mccanna sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $34.75, for a total value of $69,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.
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