Sinclair Broadcast Group Inc. (NASDAQ:SBGI) shot up 5.5% on Wednesday . The company traded as high as $29.26 and last traded at $28.95, with a volume of 900,336 shares traded. The stock had previously closed at $27.43.

Separately, Zacks Investment Research lowered Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $37.59.

The stock has a market capitalization of $2.76 billion and a P/E ratio of 16.25. The company’s 50-day moving average price is $29.81 and its 200-day moving average price is $30.85.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its earnings results on Wednesday, August 3rd. The company reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. During the same quarter in the prior year, the firm posted $0.48 earnings per share. The firm earned $666.50 million during the quarter, compared to analysts’ expectations of $658.61 million. Sinclair Broadcast Group’s quarterly revenue was up 20.3% on a year-over-year basis. On average, equities analysts expect that Sinclair Broadcast Group Inc. will post $3.22 earnings per share for the current year.

Several large investors have recently bought and sold shares of SBGI. Rhumbline Advisers increased its stake in Sinclair Broadcast Group by 5.6% in the fourth quarter. Rhumbline Advisers now owns 72,846 shares of the company’s stock worth $2,370,000 after buying an additional 3,885 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Sinclair Broadcast Group by 7.4% in the fourth quarter. California Public Employees Retirement System now owns 169,900 shares of the company’s stock worth $5,529,000 after buying an additional 11,700 shares during the period. Morgan Stanley increased its stake in shares of Sinclair Broadcast Group by 22.3% in the fourth quarter. Morgan Stanley now owns 940,911 shares of the company’s stock worth $30,617,000 after buying an additional 171,468 shares during the period. US Bancorp DE increased its stake in shares of Sinclair Broadcast Group by 2.5% in the fourth quarter. US Bancorp DE now owns 43,648 shares of the company’s stock worth $1,421,000 after buying an additional 1,057 shares during the period. Finally, Deere & Co. bought a new stake in shares of Sinclair Broadcast Group during the fourth quarter worth about $1,578,000.

Sinclair Broadcast Group, Inc is a television broadcasting company. The Company owns or provides certain programming, operating or sales services to television stations in the United States. The Company’s segments include Broadcast, Other and Corporate. The Broadcast segment consists of all of its television stations.

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