Convergence Investment Partners LLC acquired a new position in shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) during the 4th quarter, Holdings Channel reports. The fund acquired 108,292 shares of the company’s stock, valued at approximately $4,099,000.

A number of other large investors have also bought and sold shares of SBGI. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Sinclair Broadcast Group by 9.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,170 shares of the company’s stock worth $104,000 after buying an additional 273 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Sinclair Broadcast Group in the second quarter worth approximately $141,000. FNY Managed Accounts LLC bought a new position in shares of Sinclair Broadcast Group in the third quarter worth approximately $153,000. Rational Advisors LLC bought a new position in shares of Sinclair Broadcast Group in the third quarter worth approximately $234,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Sinclair Broadcast Group by 141.1% in the second quarter. PNC Financial Services Group Inc. now owns 7,786 shares of the company’s stock worth $255,000 after buying an additional 4,556 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on SBGI shares. Ameriprise Financial reiterated a “buy” rating and issued a $45.00 target price (up previously from $43.00) on shares of Sinclair Broadcast Group in a research note on Friday, November 3rd. B. Riley upped their target price on shares of Sinclair Broadcast Group from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. FBR & Co started coverage on shares of Sinclair Broadcast Group in a research note on Tuesday, October 31st. They issued a “buy” rating and a $43.00 target price on the stock. Deutsche Bank started coverage on shares of Sinclair Broadcast Group in a research note on Friday, October 20th. They issued a “buy” rating and a $46.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Wednesday, October 4th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $45.42.

Sinclair Broadcast Group, Inc. (NASDAQ SBGI) traded down $0.35 on Tuesday, hitting $39.05. 1,126,900 shares of the stock traded hands, compared to its average volume of 2,241,844. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.74 and a quick ratio of 1.74. Sinclair Broadcast Group, Inc. has a 1 year low of $26.70 and a 1 year high of $43.05. The stock has a market capitalization of $3,972.99, a PE ratio of 14.68, a price-to-earnings-growth ratio of 2.18 and a beta of 1.93.

Sinclair Broadcast Group (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.13). Sinclair Broadcast Group had a net margin of 9.06% and a return on equity of 23.27%. The company had revenue of $670.90 million for the quarter, compared to analysts’ expectations of $671.42 million. During the same period in the previous year, the firm earned $0.54 earnings per share. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. equities analysts predict that Sinclair Broadcast Group, Inc. will post 1.98 earnings per share for the current year.

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About Sinclair Broadcast Group

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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