Selz Capital LLC raised its position in Sinclair Broadcast Group Inc (NASDAQ:SBGI) by 18.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 291,600 shares of the company’s stock after acquiring an additional 44,600 shares during the period. Sinclair Broadcast Group comprises approximately 1.7% of Selz Capital LLC’s holdings, making the stock its 20th largest holding. Selz Capital LLC’s holdings in Sinclair Broadcast Group were worth $9,721,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. grew its holdings in shares of Sinclair Broadcast Group by 1,038.3% during the second quarter. Invesco Ltd. now owns 939,594 shares of the company’s stock worth $50,389,000 after purchasing an additional 857,047 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in Sinclair Broadcast Group by 92.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,353,855 shares of the company’s stock worth $57,863,000 after acquiring an additional 651,644 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in Sinclair Broadcast Group during the 2nd quarter worth about $30,656,000. Carillon Tower Advisers Inc. increased its position in Sinclair Broadcast Group by 124.5% in the 3rd quarter. Carillon Tower Advisers Inc. now owns 971,180 shares of the company’s stock valued at $41,508,000 after acquiring an additional 538,617 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position in Sinclair Broadcast Group by 474.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 598,591 shares of the company’s stock valued at $32,103,000 after acquiring an additional 494,422 shares in the last quarter. 63.80% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on SBGI. JPMorgan Chase & Co. started coverage on shares of Sinclair Broadcast Group in a research report on Friday, December 13th. They set a “neutral” rating and a $37.00 target price on the stock. TheStreet lowered shares of Sinclair Broadcast Group from a “b” rating to a “c” rating in a report on Monday, December 9th. BidaskClub upgraded shares of Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a research report on Wednesday. ValuEngine upgraded shares of Sinclair Broadcast Group from a “strong sell” rating to a “sell” rating in a research report on Tuesday, January 7th. Finally, Stephens reduced their price objective on Sinclair Broadcast Group from $80.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, November 19th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $53.00.
Sinclair Broadcast Group (NASDAQ:SBGI) last issued its earnings results on Wednesday, November 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.98). Sinclair Broadcast Group had a net margin of 5.99% and a return on equity of 25.47%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the business posted $0.62 EPS. The firm’s revenue for the quarter was up 46.9% compared to the same quarter last year.
Sinclair Broadcast Group 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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