Janney Montgomery Scott LLC acquired a new position in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI – Get Rating) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,063 shares of the company’s stock, valued at approximately $417,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Copeland Capital Management LLC acquired a new stake in shares of Sinclair Broadcast Group in the third quarter worth $25,000. HighMark Wealth Management LLC acquired a new position in Sinclair Broadcast Group during the 3rd quarter valued at $27,000. Steward Partners Investment Advisory LLC raised its stake in Sinclair Broadcast Group by 26.8% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,840 shares of the company’s stock valued at $58,000 after purchasing an additional 600 shares during the last quarter. New York State Teachers Retirement System acquired a new position in Sinclair Broadcast Group during the 2nd quarter valued at $84,000. Finally, US Bancorp DE raised its stake in Sinclair Broadcast Group by 40.6% during the 2nd quarter. US Bancorp DE now owns 5,046 shares of the company’s stock valued at $103,000 after purchasing an additional 1,458 shares during the last quarter. 51.14% of the stock is currently owned by institutional investors and hedge funds.
Sinclair Broadcast Group Trading Up 2.7 %
Shares of SBGI stock opened at $19.25 on Tuesday. Sinclair Broadcast Group, Inc. has a 52-week low of $14.36 and a 52-week high of $31.04. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 0.56 and a beta of 1.29. The company has a debt-to-equity ratio of 6.60, a quick ratio of 2.27 and a current ratio of 2.27. The firm has a fifty day moving average of $17.25 and a 200-day moving average of $19.70.
Sinclair Broadcast Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.19%. The ex-dividend date of this dividend was Wednesday, November 30th. Sinclair Broadcast Group’s payout ratio is 2.91%.
Analyst Upgrades and Downgrades
Several research firms recently commented on SBGI. JPMorgan Chase & Co. cut shares of Sinclair Broadcast Group from a “neutral” rating to an “underweight” rating and cut their target price for the company from $25.00 to $16.00 in a research note on Thursday, December 8th. StockNews.com cut shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Monday, November 28th. EF Hutton Acquisition Co. I upped their target price on shares of Sinclair Broadcast Group from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, October 5th. Wells Fargo & Company cut shares of Sinclair Broadcast Group from an “overweight” rating to an “underweight” rating and cut their target price for the company from $30.00 to $16.00 in a research note on Wednesday, November 2nd. Finally, Rosenblatt Securities cut their target price on shares of Sinclair Broadcast Group from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, November 3rd. Two 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. According to MarketBeat, Sinclair Broadcast Group has an average rating of “Hold” and a consensus price target of $27.00.
Sinclair Broadcast Group Profile
Sinclair Broadcast Group, Inc operates as a media company in the United States. The company operates in two segments, Broadcast and Local Sports. The Broadcast segment 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 programming to television viewing audiences in the communities through its local television stations.
- Get a free copy of the StockNews.com research report on Sinclair Broadcast Group (SBGI)
- Is the Northrop Grumman Selloff an Opportunity?
- Is the Worst Behind for Under Armor Stock with a New CEO?
- What Does Microsoft’s Investment in ChatGBT Mean for MSFT Stock?
- Analysts Like The Fit Of Skechers USA
- Can We Trust The Rally In The S&P 500
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.