Prudential Financial Inc. increased its position in shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) by 1,280.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 215,159 shares of the company’s stock after acquiring an additional 199,578 shares during the quarter. Prudential Financial Inc. owned approximately 0.21% of Sinclair Broadcast Group worth $7,079,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Virginia Retirement Systems ET AL boosted its position in shares of Sinclair Broadcast Group by 117.4% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 35,000 shares of the company’s stock valued at $1,152,000 after acquiring an additional 18,900 shares during the last quarter. Federated Investors Inc. PA boosted its position in shares of Sinclair Broadcast Group by 3.1% during the 2nd quarter. Federated Investors Inc. PA now owns 482,364 shares of the company’s stock valued at $15,870,000 after acquiring an additional 14,430 shares during the last quarter. Pax World Management LLC acquired a new position in shares of Sinclair Broadcast Group during the 2nd quarter valued at about $14,773,000. State Board of Administration of Florida Retirement System boosted its position in shares of Sinclair Broadcast Group by 2.7% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 47,930 shares of the company’s stock valued at $1,577,000 after acquiring an additional 1,250 shares during the last quarter. Finally, Three Peaks Capital Management LLC boosted its position in shares of Sinclair Broadcast Group by 0.6% during the 2nd quarter. Three Peaks Capital Management LLC now owns 164,987 shares of the company’s stock valued at $5,428,000 after acquiring an additional 1,062 shares during the last quarter. 83.10% of the stock is currently owned by hedge funds and other institutional investors.

Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) opened at 27.90 on Friday. The firm has a 50-day moving average of $30.57 and a 200-day moving average of $35.16. Sinclair Broadcast Group, Inc. has a 52-week low of $24.15 and a 52-week high of $43.05. The firm has a market cap of $2.87 billion, a PE ratio of 9.78 and a beta of 1.80.

Sinclair Broadcast Group (NASDAQ:SBGI) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. Sinclair Broadcast Group had a return on equity of 32.06% and a net margin of 9.70%. The firm had revenue of $679.30 million for the quarter, compared to analyst estimates of $678.23 million. During the same period last year, the company earned $0.52 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts anticipate that Sinclair Broadcast Group, Inc. will post $2.01 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Wednesday, August 30th. Sinclair Broadcast Group’s payout ratio is 24.83%.

Several brokerages have recently weighed in on SBGI. Stephens set a $46.00 price target on shares of Sinclair Broadcast Group and gave the company a “buy” rating in a research report on Saturday, June 3rd. Zacks Investment Research cut shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Benchmark Co. upped 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. ValuEngine cut shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $45.00 target price on shares of Sinclair Broadcast Group in a research report on Wednesday, July 5th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $43.50.

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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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