Lawrence E. Mccanna Sells 5,000 Shares of Sinclair Broadcast Group Inc. (SBGI) Stock
Sinclair Broadcast Group Inc. (NASDAQ:SBGI) Director Lawrence E. Mccanna sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $31.97, for a total value of $159,850.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Lawrence E. Mccanna also recently made the following trade(s):
- On Wednesday, October 5th, Lawrence E. Mccanna sold 2,000 shares of Sinclair Broadcast Group stock. The shares were sold at an average price of $28.63, for a total value of $57,260.00.
Sinclair Broadcast Group Inc. (NASDAQ:SBGI) opened at 31.95 on Friday. Sinclair Broadcast Group Inc. has a 12 month low of $24.15 and a 12 month high of $35.89. The company has a market capitalization of $2.90 billion, a P/E ratio of 16.72 and a beta of 1.65. The firm has a 50-day moving average price of $27.65 and a 200 day moving average price of $29.12.
Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.72 by $0.18. The firm had revenue of $693.80 million for the quarter, compared to analyst estimates of $164.94 million. Sinclair Broadcast Group had a return on equity of 38.65% and a net margin of 7.16%. The firm’s quarterly revenue was up 26.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.45 earnings per share. Analysts expect that Sinclair Broadcast Group Inc. will post $2.66 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.72 annualized dividend and a dividend yield of 2.25%. Sinclair Broadcast Group’s dividend payout ratio is currently 37.50%.
Several hedge funds and other institutional investors have recently bought and sold shares of SBGI. BlackRock Inc. boosted its position in Sinclair Broadcast Group by 65.2% in the first quarter. BlackRock Inc. now owns 4,526 shares of the company’s stock valued at $139,000 after buying an additional 1,787 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Sinclair Broadcast Group during the second quarter valued at approximately $146,000. Tower Research Capital LLC TRC bought a new position in shares of Sinclair Broadcast Group during the second quarter valued at approximately $156,000. BNP Paribas Arbitrage SA boosted its position in shares of Sinclair Broadcast Group by 107.6% in the third quarter. BNP Paribas Arbitrage SA now owns 5,779 shares of the company’s stock valued at $167,000 after buying an additional 2,995 shares during the period. Finally, BancorpSouth Inc boosted its position in shares of Sinclair Broadcast Group by 1.5% in the third quarter. BancorpSouth Inc now owns 6,932 shares of the company’s stock valued at $200,000 after buying an additional 100 shares during the period. 69.62% of the stock is owned by institutional investors.
A number of research analysts recently weighed in on SBGI shares. Stephens raised Sinclair Broadcast Group from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 3rd. Benchmark Co. reissued a “buy” rating and issued a $44.00 price objective on shares of Sinclair Broadcast Group in a research note on Thursday, November 3rd. Wedbush cut their price objective on Sinclair Broadcast Group from $37.00 to $36.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 27th. Finally, Zacks Investment Research raised Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 6th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Sinclair Broadcast Group currently has a consensus rating of “Buy” and an average target price of $38.13.
Sinclair Broadcast Group Company Profile
Sinclair Broadcast Group, Inc is a television broadcasting company. The Company owns or provides certain programming, operating or sales services to television stations in the United States. The Company’s segments include Broadcast, Other and Corporate. The Broadcast segment consists of all of its television stations.
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