Xact Kapitalforvaltning AB bought a new stake in Sinclair Broadcast Group Inc (NASDAQ:SBGI) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,267 shares of the company’s stock, valued at approximately $275,000.
Other institutional investors have also recently bought and sold shares of the company. New York State Common Retirement Fund grew its holdings in Sinclair Broadcast Group by 3.9% during the 3rd quarter. New York State Common Retirement Fund now owns 331,886 shares of the company’s stock valued at $10,637,000 after buying an additional 12,463 shares during the last quarter. American International Group Inc. lifted its stake in shares of Sinclair Broadcast Group by 8.1% during the 3rd quarter. American International Group Inc. now owns 48,433 shares of the company’s stock worth $1,552,000 after purchasing an additional 3,621 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of Sinclair Broadcast Group by 41.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 9,988 shares of the company’s stock worth $309,000 after purchasing an additional 2,941 shares during the period. Legal & General Group Plc raised its position in shares of Sinclair Broadcast Group by 14.8% in the 3rd quarter. Legal & General Group Plc now owns 33,667 shares of the company’s stock worth $1,077,000 after buying an additional 4,344 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Sinclair Broadcast Group by 7.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,078,562 shares of the company’s stock worth $66,615,000 after buying an additional 140,286 shares during the period. 87.22% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on SBGI. BidaskClub raised Sinclair Broadcast Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. Benchmark reissued a “buy” rating and issued a $55.00 price objective on shares of Sinclair Broadcast Group in a research report on Wednesday, February 21st. Royal Bank of Canada restated a “buy” rating and set a $48.00 target price on shares of Sinclair Broadcast Group in a research note on Thursday, January 4th. ValuEngine upgraded Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, B. Riley decreased their price target on Sinclair Broadcast Group from $53.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company’s stock. Sinclair Broadcast Group currently has a consensus rating of “Buy” and a consensus price target of $46.64.
Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $1.07. Sinclair Broadcast Group had a net margin of 21.07% and a return on equity of 22.76%. The firm had revenue of $734.00 million for the quarter, compared to analysts’ expectations of $733.41 million. During the same period in the previous year, the company posted $1.32 EPS. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. sell-side analysts predict that Sinclair Broadcast Group Inc will post 3.53 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Friday, March 9th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Thursday, March 8th. Sinclair Broadcast Group’s dividend payout ratio is 25.71%.
Sinclair Broadcast Group Profile
Sinclair Broadcast Group, Inc is a television broadcasting company. The Company focuses on providing content on its local television stations and digital platforms. The Company’s segments are broadcast, other and corporate. The Broadcast segment consists of its broadcast television stations. The content distributed through its broadcast platform consists of programming provided by third-party networks and syndicators, local news, it owns networks, and other original programming produced by it.
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