MML Investors Services LLC boosted its position in shares of Sinclair Broadcast Group Inc (NASDAQ:SBGI) by 62.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,939 shares of the company’s stock after purchasing an additional 5,716 shares during the quarter. MML Investors Services LLC’s holdings in Sinclair Broadcast Group were worth $424,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBGI. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Sinclair Broadcast Group during the second quarter valued at approximately $157,000. Exane Derivatives acquired a new position in shares of Sinclair Broadcast Group in the third quarter valued at approximately $159,000. Cerebellum GP LLC acquired a new position in shares of Sinclair Broadcast Group in the third quarter valued at approximately $193,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Sinclair Broadcast Group by 355.6% in the third quarter. Steward Partners Investment Advisory LLC now owns 8,200 shares of the company’s stock valued at $232,000 after buying an additional 6,400 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of Sinclair Broadcast Group in the third quarter valued at approximately $277,000. Hedge funds and other institutional investors own 67.45% of the company’s stock.

Sinclair Broadcast Group stock opened at $30.89 on Thursday. The company has a market capitalization of $3.01 billion, a PE ratio of 11.03 and a beta of 1.30. Sinclair Broadcast Group Inc has a twelve month low of $25.13 and a twelve month high of $40.15. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 2.43.

Sinclair Broadcast Group (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, November 7th. The company reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.06. The business had revenue of $766.30 million for the quarter, compared to analyst estimates of $752.56 million. Sinclair Broadcast Group had a net margin of 19.98% and a return on equity of 19.79%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 earnings per share. As a group, equities research analysts predict that Sinclair Broadcast Group Inc will post 2.82 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 30th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Thursday, November 29th. This is a positive change from Sinclair Broadcast Group’s previous quarterly dividend of $0.18. Sinclair Broadcast Group’s payout ratio is currently 28.57%.

SBGI has been the subject of several research analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Sinclair Broadcast Group in a report on Wednesday, September 26th. They issued a “neutral” rating and a $32.00 price target for the company. B. Riley upped their price target on shares of Sinclair Broadcast Group from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, November 8th. BidaskClub cut shares of Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a report on Tuesday, September 11th. ValuEngine upgraded shares of Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a report on Tuesday, November 27th. Finally, Guggenheim initiated coverage on shares of Sinclair Broadcast Group in a report on Tuesday, October 16th. They issued a “buy” rating and a $40.00 price target for the company. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $38.60.

In other news, Director Lawrence E. Mccanna sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $31.68, for a total value of $158,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 29.24% of the company’s stock.

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

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