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

Separately, Zacks Investment Research raised Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $37.59.

The firm has a market capitalization of $2.79 billion and a P/E ratio of 16.43. The company’s 50 day moving average price is $29.70 and its 200 day moving average price is $30.83.

Sinclair Broadcast Group (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. The company had revenue of $666.50 million for the quarter, compared to the consensus estimate of $658.61 million. During the same period last year, the company earned $0.48 EPS. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. On average, analysts anticipate that Sinclair Broadcast Group Inc. will post $3.17 EPS for the current fiscal year.

Several hedge funds and institutional investors recently added to or reduced their stakes in SBGI. US Bancorp DE increased its position in Sinclair Broadcast Group by 2.5% in the fourth quarter. US Bancorp DE now owns 43,648 shares of the company’s stock valued at $1,421,000 after buying an additional 1,057 shares during the period. Rhumbline Advisers increased its position in shares of 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 during the last quarter. Airain ltd increased its position in shares of Sinclair Broadcast Group by 11.4% in the fourth quarter. Airain ltd now owns 46,466 shares of the company’s stock worth $1,512,000 after buying an additional 4,757 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of Sinclair Broadcast Group by 42.7% in the fourth quarter. GSA Capital Partners LLP now owns 33,823 shares of the company’s stock worth $1,101,000 after buying an additional 10,123 shares during the last quarter. Finally, California Public Employees Retirement System increased its position 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 last quarter.

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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