StockNews.com began coverage on shares of Sinclair Broadcast Group (NASDAQ:SBGI – Get Rating) in a report released on Thursday. The brokerage issued a hold rating on the stock.
SBGI has been the subject of several other reports. Wells Fargo & Company lowered their target price on Sinclair Broadcast Group from $16.00 to $15.00 and set an underweight rating for the company in a report on Wednesday, February 22nd. Rosenblatt Securities lowered their target price on Sinclair Broadcast Group from $18.00 to $16.00 and set a neutral rating for the company in a report on Thursday, February 23rd. Benchmark reaffirmed a buy rating and set a $30.00 target price on shares of Sinclair Broadcast Group in a report on Tuesday, February 21st. Finally, JPMorgan Chase & Co. lowered Sinclair Broadcast Group from a neutral rating to an underweight rating and lowered their target price for the company from $25.00 to $16.00 in a report on Thursday, December 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $25.83.
Sinclair Broadcast Group Stock Down 10.9 %
Shares of Sinclair Broadcast Group stock opened at $12.65 on Thursday. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 6.21. The firm has a market cap of $879.71 million, a P/E ratio of 0.35 and a beta of 1.42. Sinclair Broadcast Group has a fifty-two week low of $12.64 and a fifty-two week high of $28.51. The business has a 50-day moving average price of $18.01 and a 200 day moving average price of $18.34.
Sinclair Broadcast Group Dividend Announcement
Institutional Investors Weigh In On Sinclair Broadcast Group
Institutional investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new stake in Sinclair Broadcast Group in the third quarter worth approximately $203,000. ClariVest Asset Management LLC acquired a new stake in Sinclair Broadcast Group in the second quarter worth approximately $3,175,000. Grant GrossMendelsohn LLC increased its holdings in shares of Sinclair Broadcast Group by 5.5% in the fourth quarter. Grant GrossMendelsohn LLC now owns 41,928 shares of the company’s stock valued at $721,000 after buying an additional 2,195 shares in the last quarter. Edgestream Partners L.P. increased its holdings in shares of Sinclair Broadcast Group by 32.3% in the second quarter. Edgestream Partners L.P. now owns 90,280 shares of the company’s stock valued at $1,842,000 after buying an additional 22,060 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in shares of Sinclair Broadcast Group by 3.1% in the second quarter. Gamco Investors INC. ET AL now owns 2,535,830 shares of the company’s stock valued at $51,731,000 after buying an additional 77,418 shares in the last quarter. 51.14% of the stock is currently owned by institutional investors and hedge funds.
About Sinclair Broadcast Group
Sinclair Broadcast Group, Inc is a media company engaged in the provision of local sports and news. It operates through the following segments: Broadcast, Local Sports, and Others. The Broadcast segment consists of television stations which offer programming and operating services, and sales and other non-programming operating services.
- Get a free copy of the StockNews.com research report on Sinclair Broadcast Group (SBGI)
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