Russell Investments Group Ltd. increased its stake in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) by 340.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,977 shares of the company’s stock after buying an additional 60,253 shares during the period. Russell Investments Group Ltd. owned 0.08% of Sinclair Broadcast Group worth $2,565,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Kissinger Financial Services LLC raised its stake in Sinclair Broadcast Group by 0.5% in the second quarter. Kissinger Financial Services LLC now owns 8,742 shares of the company’s stock valued at $287,000 after buying an additional 45 shares in the last quarter. Independent Portfolio Consultants Inc. raised its stake in Sinclair Broadcast Group by 2.4% in the first quarter. Independent Portfolio Consultants Inc. now owns 2,575 shares of the company’s stock valued at $104,000 after buying an additional 60 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Sinclair Broadcast Group by 9.4% in the first quarter. PNC Financial Services Group Inc. now owns 3,230 shares of the company’s stock valued at $131,000 after buying an additional 278 shares in the last quarter. Stratos Wealth Partners LTD. raised its stake in Sinclair Broadcast Group by 2.9% in the first quarter. Stratos Wealth Partners LTD. now owns 10,552 shares of the company’s stock valued at $427,000 after buying an additional 300 shares in the last quarter. Finally, UBS Group AG raised its stake in Sinclair Broadcast Group by 0.6% in the first quarter. UBS Group AG now owns 61,635 shares of the company’s stock valued at $2,497,000 after buying an additional 381 shares in the last quarter. Institutional investors own 83.10% of the company’s stock.

Shares of Sinclair Broadcast Group, Inc. (SBGI) traded up 0.182% during mid-day trading on Friday, hitting $30.305. 418,756 shares of the stock traded hands. Sinclair Broadcast Group, Inc. has a one year low of $24.15 and a one year high of $43.05. The firm has a market capitalization of $3.11 billion, a P/E ratio of 10.626 and a beta of 1.79. The company’s 50 day moving average is $32.28 and its 200 day moving average is $35.79.

Sinclair Broadcast Group (NASDAQ:SBGI) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.43 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. Sinclair Broadcast Group had a net margin of 9.70% and a return on equity of 32.06%. The business had revenue of $679.30 million for the quarter, compared to the consensus estimate of $678.23 million. During the same period in the prior year, the company posted $0.52 earnings per share. Sinclair Broadcast Group’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts expect that Sinclair Broadcast Group, Inc. will post $2.01 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.72 annualized dividend and a dividend yield of 2.38%. Sinclair Broadcast Group’s dividend payout ratio (DPR) is presently 24.83%.

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Several analysts have issued reports on the stock. Stephens set a $46.00 price target on shares of Sinclair Broadcast Group and gave the stock a “buy” rating in a research report on Saturday, June 3rd. Zacks Investment Research lowered shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Benchmark Co. lifted their target price on shares of Sinclair Broadcast Group from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reiterated a “buy” rating and set a $45.00 target price on shares of Sinclair Broadcast Group in a research report on Wednesday, July 5th. Finally, ValuEngine upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 16th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Sinclair Broadcast Group presently has an average rating of “Buy” and a consensus price target of $43.50.

In related news, Director Lawrence E. Mccanna sold 2,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $34.75, for a total value of $69,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 28.20% of the company’s stock.

Sinclair Broadcast Group Company 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.

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

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