Sinclair Broadcast Group Inc. (SBGI) Stake Increased by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. increased its position in Sinclair Broadcast Group Inc. (NASDAQ:SBGI) by 9.8% during the second quarter, Holdings Channel reports. The firm owned 43,813 shares of the company’s stock after buying an additional 3,919 shares during the period. UBS Asset Management Americas Inc.’s holdings in Sinclair Broadcast Group were worth $1,309,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. AXA bought a new stake in shares of Sinclair Broadcast Group during the first quarter worth about $5,261,000. Quadrature Capital Ltd bought a new stake in shares of Sinclair Broadcast Group during the first quarter worth about $375,000. UBS Group AG raised its stake in shares of Sinclair Broadcast Group by 131.7% in the first quarter. UBS Group AG now owns 58,932 shares of the company’s stock worth $1,813,000 after buying an additional 33,498 shares during the period. State Street Corp raised its stake in shares of Sinclair Broadcast Group by 2.2% in the first quarter. State Street Corp now owns 1,218,427 shares of the company’s stock worth $37,463,000 after buying an additional 26,433 shares during the period. Finally, Sentry Investment Management LLC bought a new stake in shares of Sinclair Broadcast Group during the first quarter worth about $489,000. 69.55% of the stock is currently owned by institutional investors.
Shares of Sinclair Broadcast Group Inc. (NASDAQ:SBGI) traded down 1.52% on Friday, reaching $25.86. The company’s stock had a trading volume of 1,807,181 shares. The company has a 50 day moving average price of $28.10 and a 200 day moving average price of $29.99. Sinclair Broadcast Group Inc. has a 52-week low of $25.70 and a 52-week high of $35.89. The company has a market cap of $2.44 billion, a P/E ratio of 14.13 and a beta of 1.83.
Sinclair Broadcast Group (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.52 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.52. The firm had revenue of $666.50 million for the quarter, compared to analyst estimates of $658.61 million. Sinclair Broadcast Group had a return on equity of 34.76% and a net margin of 7.28%. The business’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same period last year, the company earned $0.48 EPS. On average, analysts anticipate that Sinclair Broadcast Group Inc. will post $2.90 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a $0.18 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.72 annualized dividend and a dividend yield of 2.78%. Sinclair Broadcast Group’s dividend payout ratio is currently 39.34%.
A number of brokerages have recently issued reports on SBGI. Zacks Investment Research lowered Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research report on Friday, July 15th. Wedbush dropped their price target on Sinclair Broadcast Group from $37.00 to $36.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 27th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $37.42.
In other news, Director Lawrence E. Mccanna sold 2,000 shares of the firm’s stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $28.63, for a total value of $57,260.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 29.70% of the stock is owned by insiders.
About Sinclair Broadcast Group
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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