Sinclair Broadcast Group Inc (NASDAQ:SBGI) Shares Bought by GAM Holding AG

GAM Holding AG increased its position in shares of Sinclair Broadcast Group Inc (NASDAQ:SBGI) by 123.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,127 shares of the company’s stock after purchasing an additional 18,287 shares during the period. GAM Holding AG’s holdings in Sinclair Broadcast Group were worth $1,275,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SBGI. BlackRock Inc. lifted its position in shares of Sinclair Broadcast Group by 1.6% during the 4th quarter. BlackRock Inc. now owns 5,190,505 shares of the company’s stock worth $136,718,000 after buying an additional 82,886 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Sinclair Broadcast Group by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,181,634 shares of the company’s stock worth $83,805,000 after buying an additional 27,711 shares during the last quarter. Norges Bank purchased a new stake in shares of Sinclair Broadcast Group during the 4th quarter worth approximately $37,682,000. JPMorgan Chase & Co. lifted its position in shares of Sinclair Broadcast Group by 33.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,280,500 shares of the company’s stock worth $49,274,000 after buying an additional 317,424 shares during the last quarter. Finally, Beach Point Capital Management LP lifted its position in shares of Sinclair Broadcast Group by 33.0% during the 4th quarter. Beach Point Capital Management LP now owns 1,238,224 shares of the company’s stock worth $32,615,000 after buying an additional 307,563 shares during the last quarter. Hedge funds and other institutional investors own 65.00% of the company’s stock.

Several analysts recently commented on SBGI shares. Zacks Investment Research upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Saturday, April 6th. B. Riley upgraded shares of Sinclair Broadcast Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $46.00 to $57.00 in a research report on Monday, May 6th. Wolfe Research upgraded shares of Sinclair Broadcast Group from an “underperform” rating to an “outperform” rating in a research report on Wednesday, April 3rd. BidaskClub downgraded shares of Sinclair Broadcast Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 11th. Finally, Evercore ISI raised shares of Sinclair Broadcast Group from an “in-line” rating to an “outperform” rating and set a $61.00 price objective on the stock in a research note on Tuesday, May 7th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Sinclair Broadcast Group currently has an average rating of “Buy” and an average target price of $48.67.

In other news, COO Steven M. Marks sold 3,000 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $53.78, for a total transaction of $161,340.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel C. Keith sold 13,250 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $56.58, for a total transaction of $749,685.00. Following the transaction, the director now owns 46,000 shares in the company, valued at $2,602,680. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,250 shares of company stock worth $1,017,345. 29.24% of the stock is owned by insiders.

Shares of NASDAQ:SBGI traded up $0.43 on Friday, reaching $53.63. 8,519,443 shares of the company were exchanged, compared to its average volume of 1,218,463. Sinclair Broadcast Group Inc has a 1-year low of $25.13 and a 1-year high of $66.57. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 2.66. The stock’s 50-day simple moving average is $54.56. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 16.01 and a beta of 1.25.

Sinclair Broadcast Group (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.16). Sinclair Broadcast Group had a return on equity of 20.45% and a net margin of 10.28%. The business had revenue of $722.10 million during the quarter, compared to analysts’ expectations of $707.94 million. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Sinclair Broadcast Group’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, analysts expect that Sinclair Broadcast Group Inc will post 2.76 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.80 dividend on an annualized basis and a yield of 1.49%. Sinclair Broadcast Group’s dividend payout ratio (DPR) is 23.88%.

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.

Read More: Blockchain

Institutional Ownership by Quarter for Sinclair Broadcast Group (NASDAQ:SBGI)

Receive News & Ratings for Sinclair Broadcast Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sinclair Broadcast Group and related companies with MarketBeat.com's FREE daily email newsletter.