Sinclair Broadcast Group, Inc. (SBGI) Holdings Lifted by Goodnow Investment Group LLC

Goodnow Investment Group LLC grew its position in shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) by 34.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,197,445 shares of the company’s stock after buying an additional 308,450 shares during the period. Sinclair Broadcast Group makes up 7.9% of Goodnow Investment Group LLC’s holdings, making the stock its 5th biggest position. Goodnow Investment Group LLC owned 1.18% of Sinclair Broadcast Group worth $38,378,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SBGI. Bank of Montreal Can increased its position in Sinclair Broadcast Group by 69.7% during the 2nd quarter. Bank of Montreal Can now owns 9,677 shares of the company’s stock worth $319,000 after buying an additional 3,974 shares during the period. Aperio Group LLC increased its position in shares of Sinclair Broadcast Group by 7.7% in the second quarter. Aperio Group LLC now owns 12,532 shares of the company’s stock worth $412,000 after purchasing an additional 900 shares during the period. Russell Investments Group Ltd. increased its position in shares of Sinclair Broadcast Group by 340.0% in the second quarter. Russell Investments Group Ltd. now owns 77,977 shares of the company’s stock worth $2,565,000 after purchasing an additional 60,253 shares during the period. NGAM Advisors L.P. increased its position in shares of Sinclair Broadcast Group by 5.0% in the second quarter. NGAM Advisors L.P. now owns 25,555 shares of the company’s stock worth $841,000 after purchasing an additional 1,221 shares during the period. Finally, Sei Investments Co. increased its position in shares of Sinclair Broadcast Group by 19.8% in the second quarter. Sei Investments Co. now owns 168,648 shares of the company’s stock worth $5,548,000 after purchasing an additional 27,850 shares during the period. Hedge funds and other institutional investors own 84.80% of the company’s stock.

In other Sinclair Broadcast Group news, Director Howard E. Friedman sold 1,010 shares of Sinclair Broadcast Group stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $31.98, for a total value of $32,299.80. Following the transaction, the director now owns 10,990 shares in the company, valued at $351,460.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 28.20% of the company’s stock.

Sinclair Broadcast Group, Inc. (SBGI) opened at $34.15 on Thursday. Sinclair Broadcast Group, Inc. has a 12-month low of $26.70 and a 12-month high of $43.05. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.74 and a quick ratio of 1.74. The company has a market capitalization of $3,423.58, a price-to-earnings ratio of 14.20, a P/E/G ratio of 8.41 and a beta of 1.92.

Sinclair Broadcast Group (NASDAQ:SBGI) last released its earnings results on Wednesday, November 1st. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.13). Sinclair Broadcast Group had a net margin of 9.06% and a return on equity of 23.27%. The business had revenue of $670.90 million during the quarter, compared to the consensus estimate of $671.42 million. During the same quarter in the prior year, the firm earned $0.54 EPS. The business’s revenue was down 3.3% on a year-over-year basis. analysts expect that Sinclair Broadcast Group, Inc. will post 2 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Thursday, November 30th. Sinclair Broadcast Group’s dividend payout ratio is presently 27.07%.

A number of brokerages recently commented on SBGI. Wells Fargo & Company restated an “outperform” rating and issued a $55.00 price target on shares of Sinclair Broadcast Group in a research report on Monday, October 2nd. Zacks Investment Research cut Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Ameriprise Financial restated a “buy” rating and issued a $45.00 price target (up previously from $43.00) on shares of Sinclair Broadcast Group in a research report on Friday, November 3rd. ValuEngine upgraded Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, FBR & Co began coverage on Sinclair Broadcast Group in a research report on Tuesday, October 31st. They issued a “buy” rating and a $43.00 price target on the stock. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $44.91.

COPYRIGHT VIOLATION WARNING: This news story was reported by The Lincolnian Online and is the property of of The Lincolnian Online. If you are reading this news story on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this news story can be accessed at https://www.thelincolnianonline.com/2017/12/07/sinclair-broadcast-group-inc-sbgi-holdings-lifted-by-goodnow-investment-group-llc.html.

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.

Want to see what other hedge funds are holding SBGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sinclair Broadcast Group, Inc. (NASDAQ:SBGI).

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

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

Leave a Reply