Alps Advisors Inc. lifted its position in shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) by 40.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,392 shares of the company’s stock after acquiring an additional 4,756 shares during the quarter. Alps Advisors Inc.’s holdings in Sinclair Broadcast Group were worth $525,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Teacher Retirement System of Texas boosted its stake 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 worth $202,000 after acquiring an additional 164 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Sinclair Broadcast Group by 3.1% during the 2nd quarter. Amalgamated Bank now owns 8,929 shares of the company’s stock worth $294,000 after acquiring an additional 269 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 worth $104,000 after acquiring an additional 273 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Sinclair Broadcast Group by 9.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,230 shares of the company’s stock worth $131,000 after acquiring an additional 278 shares in the last quarter. Finally, Sound Point Capital Management LP boosted its stake in shares of Sinclair Broadcast Group by 0.3% during the 2nd quarter. Sound Point Capital Management LP now owns 300,622 shares of the company’s stock worth $9,890,000 after acquiring an additional 895 shares in the last quarter. 83.93% of the stock is currently owned by institutional investors and hedge funds.

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

Sinclair Broadcast Group, Inc. (SBGI) opened at $32.55 on Friday. The firm has a market cap of $3,162.87, a PE ratio of 13.12, a P/E/G ratio of 7.78 and a beta of 1.92. Sinclair Broadcast Group, Inc. has a 12 month low of $26.70 and a 12 month high of $43.05. 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 issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.30 earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $670.90 million during the quarter, compared to analysts’ expectations of $671.42 million. During the same period in the prior year, the business posted $0.54 earnings per share. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. equities analysts anticipate that Sinclair Broadcast Group, Inc. will post 2 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Thursday, November 30th. Sinclair Broadcast Group’s dividend payout ratio (DPR) is 27.07%.

Several equities research analysts have recently issued reports on the stock. ValuEngine raised shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research lowered shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. B. Riley raised their price target on shares of Sinclair Broadcast Group from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Ameriprise Financial reaffirmed a “buy” rating and issued a $45.00 price target (up from $43.00) on shares of Sinclair Broadcast Group in a research note on Friday, November 3rd. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Sinclair Broadcast Group in a research note on Monday, October 2nd. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $44.82.

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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.

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

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