Eagle Asset Management Inc. bought a new stake in shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 260,373 shares of the company’s stock, valued at approximately $8,566,000. Eagle Asset Management Inc. owned approximately 0.25% of Sinclair Broadcast Group as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Alps Advisors Inc. lifted its stake in shares of Sinclair Broadcast Group by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 11,636 shares of the company’s stock valued at $383,000 after buying an additional 30 shares in the last quarter. Kissinger Financial Services LLC lifted its stake in shares of Sinclair Broadcast Group by 0.5% during the 2nd 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. Teacher Retirement System of Texas lifted its stake in shares of Sinclair Broadcast Group by 2.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 6,141 shares of the company’s stock valued at $202,000 after buying an additional 164 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Sinclair Broadcast Group by 9.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,170 shares of the company’s stock valued at $104,000 after buying an additional 273 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Sinclair Broadcast Group by 9.4% during the 1st 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. Institutional investors own 83.10% of the company’s stock.

Shares of Sinclair Broadcast Group, Inc. (NASDAQ SBGI) opened at 29.60 on Thursday. Sinclair Broadcast Group, Inc. has a 52 week low of $24.15 and a 52 week high of $43.05. The firm has a 50-day moving average of $31.94 and a 200 day moving average of $35.65. The stock has a market cap of $3.04 billion, a PE ratio of 10.38 and a beta of 1.80.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.43 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. The firm had revenue of $679.30 million for the quarter, compared to the consensus estimate of $678.23 million. Sinclair Broadcast Group had a net margin of 9.70% and a return on equity of 32.06%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $0.52 earnings per share. On average, equities analysts forecast 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. Stockholders of record on Friday, September 1st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Wednesday, August 30th. Sinclair Broadcast Group’s dividend payout ratio is currently 24.83%.

In other news, Director Lawrence E. Mccanna sold 2,000 shares of the firm’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 this link. Company insiders own 28.20% of the company’s stock.

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A number of research analysts recently weighed in on SBGI shares. ValuEngine upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research note on Tuesday, May 16th. Zacks Investment Research cut shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Stephens set a $46.00 price target on shares of Sinclair Broadcast Group and gave the stock a “buy” rating in a research note on Saturday, June 3rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $45.00 price target on shares of Sinclair Broadcast Group in a research note on Wednesday, July 5th. Finally, Benchmark Co. boosted their price target on shares of Sinclair Broadcast Group from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $43.50.

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.

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

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