Virtu KCG Holdings LLC lessened its holdings in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) by 36.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 22,922 shares of the company’s stock after selling 13,136 shares during the period. Virtu KCG Holdings LLC’s holdings in Sinclair Broadcast Group were worth $754,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SBGI. BlackRock Inc. raised its stake in shares of Sinclair Broadcast Group by 18,421.8% during the 1st quarter. BlackRock Inc. now owns 4,884,950 shares of the company’s stock worth $197,842,000 after acquiring an additional 4,858,576 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Sinclair Broadcast Group by 201.3% during the 2nd quarter. Principal Financial Group Inc. now owns 4,113,294 shares of the company’s stock worth $135,326,000 after acquiring an additional 2,748,201 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Sinclair Broadcast Group by 1,377.9% during the 1st quarter. Point72 Asset Management L.P. now owns 2,576,060 shares of the company’s stock worth $104,330,000 after acquiring an additional 2,401,760 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Sinclair Broadcast Group by 30.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,751,184 shares of the company’s stock worth $255,014,000 after acquiring an additional 1,789,969 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Sinclair Broadcast Group by 4,601.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,371,571 shares of the company’s stock worth $55,549,000 after acquiring an additional 1,342,400 shares in the last quarter. 80.87% of the stock is owned by hedge funds and other institutional investors.

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In related news, Director Howard E. Friedman sold 1,010 shares of Sinclair Broadcast Group 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 completion of the transaction, the director now owns 10,990 shares in the company, valued at $351,460.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 28.20% of the stock is owned by insiders.

SBGI has been the subject of several recent analyst reports. Royal Bank Of Canada reiterated a “buy” rating and set a $45.00 price objective on shares of Sinclair Broadcast Group in a research note on Wednesday, July 5th. Benchmark Co. boosted their price objective on shares of Sinclair Broadcast Group from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Saturday, August 5th. ValuEngine lowered shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Monday, September 11th. Finally, Wells Fargo & Company reiterated an “outperform” rating and set a $55.00 price objective on shares of Sinclair Broadcast Group in a research note on Monday. Eight research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus target price of $44.86.

Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) opened at 32.25 on Friday. The firm’s 50-day moving average is $29.70 and its 200-day moving average is $34.05. Sinclair Broadcast Group, Inc. has a 52 week low of $24.15 and a 52 week high of $43.05. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 11.31 and a beta of 1.83.

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, hitting analysts’ consensus estimates of $0.43. Sinclair Broadcast Group had a net margin of 9.70% and a return on equity of 32.06%. The company had revenue of $679.30 million during the quarter, compared to the consensus estimate of $678.23 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities analysts anticipate 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. Investors of record on Friday, September 1st were paid a $0.18 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.72 dividend on an annualized basis and a yield of 2.23%. Sinclair Broadcast Group’s dividend payout ratio is currently 24.83%.

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.

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

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