Sinclair Broadcast Group, Inc. (SBGI) Shares Bought by Point72 Asset Management L.P.
Point72 Asset Management L.P. raised its stake in shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) by 76.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 282,100 shares of the company’s stock after buying an additional 122,100 shares during the period. Point72 Asset Management L.P. owned approximately 0.28% of Sinclair Broadcast Group worth $9,041,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Sinclair Broadcast Group by 9.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,170 shares of the company’s stock valued at $104,000 after purchasing an additional 273 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Sinclair Broadcast Group during the 2nd quarter valued at about $141,000. FNY Managed Accounts LLC bought a new position in shares of Sinclair Broadcast Group during the 3rd quarter valued at about $153,000. Teacher Retirement System of Texas boosted its position in shares of Sinclair Broadcast Group by 2.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 6,141 shares of the company’s stock valued at $202,000 after purchasing an additional 164 shares in the last quarter. Finally, Rational Advisors LLC bought a new position in shares of Sinclair Broadcast Group during the 3rd quarter valued at about $234,000. Institutional investors own 84.80% of the company’s stock.
In other Sinclair Broadcast Group news, Director Howard E. Friedman sold 1,010 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $31.98, for a total value of $32,299.80. Following the completion of the transaction, the director now directly owns 10,990 shares in the company, valued at $351,460.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 28.20% of the company’s stock.
Sinclair Broadcast Group, Inc. (NASDAQ SBGI) opened at $37.35 on Friday. Sinclair Broadcast Group, Inc. has a fifty-two week low of $26.70 and a fifty-two week high of $43.05. The company has a market cap of $3,728.81, a PE ratio of 15.46, a price-to-earnings-growth ratio of 9.16 and a beta of 1.92. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 3.51.
Sinclair Broadcast Group (NASDAQ:SBGI) last announced its earnings results on Wednesday, November 1st. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.13). Sinclair Broadcast Group had a return on equity of 23.27% and a net margin of 9.06%. The firm had revenue of $670.90 million during the quarter, compared to analyst estimates of $671.42 million. During the same quarter in the previous year, the business earned $0.54 earnings per share. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. sell-side analysts predict that Sinclair Broadcast Group, Inc. will post 2 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Thursday, November 30th. Sinclair Broadcast Group’s payout ratio is 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.
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