Sinclair Broadcast Group, Inc. (SBGI) Stake Increased by Alliancebernstein L.P.
Alliancebernstein L.P. grew its holdings in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) by 28.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,194 shares of the company’s stock after buying an additional 27,932 shares during the quarter. Alliancebernstein L.P. owned about 0.12% of Sinclair Broadcast Group worth $4,185,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Sinclair Broadcast Group by 55.7% in the 1st 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 during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Sinclair Broadcast Group by 9.4% in the 1st 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 during the period. M&T Bank Corp acquired a new stake in shares of Sinclair Broadcast Group in the 1st quarter valued at approximately $213,000. New York State Teachers Retirement System acquired a new stake in shares of Sinclair Broadcast Group in the 1st quarter valued at approximately $235,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Sinclair Broadcast Group in the 1st quarter valued at approximately $242,000. 80.87% of the stock is owned by institutional investors and hedge funds.
Sinclair Broadcast Group, Inc. (NASDAQ SBGI) opened at 32.35 on Thursday. The company’s 50-day moving average price is $29.63 and its 200 day moving average price is $34.06. The firm has a market capitalization of $3.32 billion, a PE ratio of 11.34 and a beta of 1.83. Sinclair Broadcast Group, Inc. has a one year low of $24.15 and a one year high of $43.05.
Sinclair Broadcast Group (NASDAQ:SBGI) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. The firm had revenue of $679.30 million during the quarter, compared to analyst estimates of $678.23 million. Sinclair Broadcast Group had a return on equity of 32.06% and a net margin of 9.70%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $0.52 EPS. On average, analysts forecast that Sinclair Broadcast Group, Inc. will post $2.01 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Wednesday, August 30th. Sinclair Broadcast Group’s payout ratio is currently 24.83%.
In other Sinclair Broadcast Group news, Director Howard E. Friedman sold 1,010 shares of the 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 transaction, 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 filing with the SEC, which is accessible through the SEC website. Company insiders own 28.20% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Sinclair Broadcast Group, Inc. (SBGI) Stake Increased by Alliancebernstein L.P.” was posted by Watch List News and is the property of of Watch List News. If you are reading this piece on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.watchlistnews.com/sinclair-broadcast-group-inc-sbgi-stake-increased-by-alliancebernstein-l-p/1609299.html.
Several analysts have recently commented on the company. Wells Fargo & Company reissued an “outperform” rating and issued a $55.00 price target on shares of Sinclair Broadcast Group in a report on Monday. Zacks Investment Research raised Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Wednesday. ValuEngine raised Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a report on Monday. Benchmark Co. raised their price target on Sinclair Broadcast Group from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, August 1st. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $45.00 price target on shares of Sinclair Broadcast Group in a report on Wednesday, July 5th. Eight research analysts have rated the stock with a buy rating, Sinclair Broadcast Group currently has a consensus rating of “Buy” and an average target price of $44.86.
Sinclair Broadcast Group 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.
Want to see what other hedge funds are holding SBGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sinclair Broadcast Group, Inc. (NASDAQ:SBGI).
Receive News & Ratings for Sinclair Broadcast Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sinclair Broadcast Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.