Strategic Global Advisors LLC bought a new position in shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,318 shares of the company’s stock, valued at approximately $555,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew 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. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Sinclair Broadcast Group during the 2nd quarter worth approximately $141,000. FNY Managed Accounts LLC bought a new position in shares of Sinclair Broadcast Group during the 3rd quarter worth approximately $153,000. Teacher Retirement System of Texas grew 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. Finally, Rational Advisors LLC bought a new position in shares of Sinclair Broadcast Group during the 3rd quarter worth approximately $234,000. 84.70% of the stock is owned by institutional investors and hedge funds.

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

Several equities analysts have recently weighed in on SBGI shares. Zacks Investment Research raised shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Saturday, August 5th. ValuEngine cut shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Monday, September 11th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $55.00 price target on shares of Sinclair Broadcast Group in a research note on Monday, October 2nd. Deutsche Bank started coverage on shares of Sinclair Broadcast Group in a research note on Friday, October 20th. They set a “buy” rating and a $46.00 price target for the company. Finally, FBR & Co started coverage on shares of Sinclair Broadcast Group in a research note on Tuesday, October 31st. They set a “buy” rating and a $43.00 price target for the company. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Sinclair Broadcast Group has an average rating of “Buy” and a consensus target price of $44.91.

Sinclair Broadcast Group, Inc. (SBGI) traded down $0.30 during midday trading on Friday, hitting $34.05. The stock had a trading volume of 2,482,400 shares, compared to its average volume of 1,704,007. The firm has a market cap of $3,420.00, a P/E ratio of 14.24, a PEG ratio of 8.44 and a beta of 1.92. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 3.51. Sinclair Broadcast Group, Inc. has a 12 month low of $26.70 and a 12 month high of $43.05.

Sinclair Broadcast Group (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.13). The company had revenue of $670.90 million during the quarter, compared to analyst estimates of $671.42 million. Sinclair Broadcast Group had a net margin of 9.06% and a return on equity of 23.27%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. equities analysts predict that Sinclair Broadcast Group, Inc. will post 2 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Thursday, November 30th. Sinclair Broadcast Group’s payout ratio is presently 27.07%.

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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.

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

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