Denver Investment Advisors LLC boosted its stake in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) by 67.2% during the second quarter, Holdings Channel reports. The firm owned 941,891 shares of the company’s stock after buying an additional 378,498 shares during the period. Sinclair Broadcast Group makes up about 1.4% of Denver Investment Advisors LLC’s portfolio, making the stock its 7th largest position. Denver Investment Advisors LLC’s holdings in Sinclair Broadcast Group were worth $30,988,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in shares of Sinclair Broadcast Group by 60.2% in the first quarter. American Century Companies Inc. now owns 40,918 shares of the company’s stock worth $1,657,000 after buying an additional 15,384 shares during the period. Algert Global LLC bought a new stake in shares of Sinclair Broadcast Group during the first quarter worth $2,291,000. First Trust Advisors LP boosted its stake 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 worth $1,982,000 after buying an additional 33,925 shares during the period. State Board of Administration of Florida Retirement System boosted its stake 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 worth $1,891,000 after buying an additional 5,414 shares during the period. Finally, LSV Asset Management boosted its stake 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 worth $2,859,000 after buying an additional 66,209 shares during the period. 76.91% of the stock is owned by institutional investors and hedge funds.

Sinclair Broadcast Group, Inc. (SBGI) opened at 30.15 on Tuesday. The stock’s 50 day moving average is $33.43 and its 200-day moving average is $36.21. Sinclair Broadcast Group, Inc. has a 52 week low of $24.15 and a 52 week high of $43.05. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 10.57 and a beta of 1.79.

Sinclair Broadcast Group (NASDAQ:SBGI) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.43 earnings per share for the quarter, meeting the Thomson Reuters’ 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%. Sinclair Broadcast Group’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $0.52 EPS. On average, equities research analysts expect that Sinclair Broadcast Group, Inc. will post $2.01 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a $0.18 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.72 annualized dividend and a yield of 2.39%. Sinclair Broadcast Group’s dividend payout ratio is presently 24.83%.

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A number of brokerages recently weighed in on SBGI. Stephens set a $46.00 price target on shares of Sinclair Broadcast Group and gave the company a “buy” rating in a research report on Saturday, June 3rd. Zacks Investment Research cut shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Benchmark Co. boosted their price target on shares of Sinclair Broadcast Group from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reissued a “buy” rating and issued a $45.00 price target 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 analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Sinclair Broadcast Group presently has a consensus rating of “Buy” and a consensus price target of $43.50.

In related news, Director Lawrence E. Mccanna sold 2,000 shares of Sinclair Broadcast Group stock in a transaction dated 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 can be accessed through this link. 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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Institutional Ownership by Quarter for Sinclair Broadcast Group (NASDAQ:SBGI)

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