Schwab Charles Investment Management Inc. increased its position in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) by 8.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 990,977 shares of the company’s stock after purchasing an additional 80,395 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.96% of Sinclair Broadcast Group worth $31,761,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Verity Asset Management Inc. lifted its stake in Sinclair Broadcast Group by 38.4% during the 3rd quarter. Verity Asset Management Inc. now owns 11,785 shares of the company’s stock valued at $374,000 after acquiring an additional 3,268 shares in the last quarter. Virginia Retirement Systems ET AL lifted its stake in Sinclair Broadcast Group by 127.1% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 79,500 shares of the company’s stock valued at $2,548,000 after acquiring an additional 44,500 shares in the last quarter. Legal & General Group Plc lifted its stake in Sinclair Broadcast Group by 14.8% during the 3rd quarter. Legal & General Group Plc now owns 33,667 shares of the company’s stock valued at $1,077,000 after acquiring an additional 4,344 shares in the last quarter. FNY Managed Accounts LLC bought a new position in Sinclair Broadcast Group during the 3rd quarter valued at $153,000. Finally, Eagle Asset Management Inc. lifted its stake in Sinclair Broadcast Group by 2.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 267,988 shares of the company’s stock valued at $8,240,000 after acquiring an additional 7,615 shares in the last quarter. Institutional investors own 84.80% of the company’s stock.

In other news, Director Howard E. Friedman sold 1,010 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $31.98, for a total transaction of $32,299.80. Following the completion of the sale, the director now directly owns 10,990 shares of the company’s stock, valued at approximately $351,460.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 28.20% of the company’s stock.

SBGI has been the topic of several recent analyst reports. ValuEngine cut Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Monday, September 11th. Wells Fargo & Company restated an “outperform” rating and set a $55.00 price objective on shares of Sinclair Broadcast Group in a research note on Monday, October 2nd. Zacks Investment Research upgraded Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Wednesday, October 4th. Deutsche Bank initiated coverage on Sinclair Broadcast Group in a research note on Friday, October 20th. They set a “buy” rating and a $46.00 price objective on the stock. Finally, FBR & Co initiated coverage on Sinclair Broadcast Group in a research note on Tuesday, October 31st. They set a “buy” rating and a $43.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $44.91.

Shares of Sinclair Broadcast Group, Inc. (NASDAQ SBGI) opened at $35.65 on Monday. Sinclair Broadcast Group, Inc. has a 12-month low of $26.70 and a 12-month high of $43.05. The stock has a market capitalization of $3,627.07, a price-to-earnings ratio of 15.04, a PEG ratio of 8.91 and a beta of 1.92. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.74 and a current ratio of 1.74.

Sinclair Broadcast Group (NASDAQ:SBGI) last announced its earnings results on Wednesday, November 1st. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.13). Sinclair Broadcast Group had a net margin of 9.06% and a return on equity of 23.27%. The business had revenue of $670.90 million for the quarter, compared to analysts’ expectations of $671.42 million. During the same period in the prior year, the business earned $0.54 earnings per share. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. sell-side analysts predict that Sinclair Broadcast Group, Inc. will post 2 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Thursday, November 30th. Sinclair Broadcast Group’s dividend payout ratio is presently 27.07%.

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Sinclair Broadcast Group Company Profile

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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