SBGI has been the topic of a number of other reports. B. Riley decreased their price target on Sinclair Broadcast Group from $70.00 to $61.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. Wells Fargo & Co assumed coverage on Sinclair Broadcast Group in a research note on Tuesday, September 24th. They issued a “market perform” rating and a $48.00 price target on the stock. Zacks Investment Research downgraded Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 16th. Cannonball Research assumed coverage on Sinclair Broadcast Group in a research note on Monday, September 9th. They issued a “hold” rating and a $44.00 price target on the stock. Finally, ValuEngine upgraded Sinclair Broadcast Group from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $58.86.
Shares of SBGI stock traded down $0.73 during midday trading on Tuesday, hitting $41.27. The company had a trading volume of 16,183 shares, compared to its average volume of 713,178. The company has a debt-to-equity ratio of 2.59, a current ratio of 3.11 and a quick ratio of 3.11. Sinclair Broadcast Group has a 52-week low of $25.14 and a 52-week high of $66.57. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 12.33 and a beta of 1.18. The company’s 50 day simple moving average is $42.50 and its 200 day simple moving average is $48.80.
Institutional investors and hedge funds have recently bought and sold shares of the business. Campbell & CO Investment Adviser LLC purchased a new stake in Sinclair Broadcast Group during the third quarter worth $1,046,000. Atria Investments LLC purchased a new stake in Sinclair Broadcast Group during the second quarter worth $1,031,000. Prudential Financial Inc. boosted its position in Sinclair Broadcast Group by 1,064.2% during the second quarter. Prudential Financial Inc. now owns 217,982 shares of the company’s stock worth $11,690,000 after purchasing an additional 199,259 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Sinclair Broadcast Group by 30.5% during the second quarter. Canada Pension Plan Investment Board now owns 691,546 shares of the company’s stock worth $37,088,000 after purchasing an additional 161,478 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Sinclair Broadcast Group during the second quarter worth $767,000. Institutional investors own 65.03% of the company’s stock.
Sinclair Broadcast Group Company Profile
Sinclair Broadcast Group, Inc operates as a television broadcasting company in the United States. It owns or provides various programming, operating, sales, and other non-programming operating services to television stations. The company broadcasts free over-the-air programming, such as network provided programs, locally-produced news, local sporting events, programming from program service arrangements, syndicated entertainment programs, and internally originated programming to television viewing audiences in the communities through its local television stations.
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