Amalgamated Bank lifted its position in shares of Sinclair Broadcast Group Inc (NASDAQ:SBGI) by 37.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,811 shares of the company’s stock after acquiring an additional 2,649 shares during the period. Amalgamated Bank’s holdings in Sinclair Broadcast Group were worth $258,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Covington Capital Management bought a new stake in Sinclair Broadcast Group in the 4th quarter worth approximately $33,000. Enlightenment Research LLC bought a new stake in Sinclair Broadcast Group in the 4th quarter worth approximately $53,000. Oppenheimer Asset Management Inc. bought a new stake in Sinclair Broadcast Group in the 4th quarter worth approximately $103,000. PNC Financial Services Group Inc. grew its position in Sinclair Broadcast Group by 114.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,419 shares of the company’s stock worth $211,000 after purchasing an additional 3,959 shares during the period. Finally, Signition LP bought a new stake in Sinclair Broadcast Group in the 4th quarter worth approximately $229,000. 67.06% of the stock is owned by institutional investors.

SBGI has been the subject of a number of research analyst reports. Benchmark reaffirmed a “buy” rating and issued a $39.00 target price on shares of Sinclair Broadcast Group in a research report on Monday, January 14th. BidaskClub raised shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research report on Monday, January 7th. Finally, Zacks Investment Research raised shares of Sinclair Broadcast Group from a “strong sell” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Tuesday, March 5th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Sinclair Broadcast Group presently has a consensus rating of “Buy” and an average target price of $38.56.

In other news, insider David R. Bochenek sold 977 shares of Sinclair Broadcast Group stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $38.79, for a total transaction of $37,897.83. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Barry Faber sold 16,882 shares of Sinclair Broadcast Group stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $34.78, for a total transaction of $587,155.96. The disclosure for this sale can be found here. Insiders have sold a total of 182,893 shares of company stock worth $6,987,659 in the last quarter. Corporate insiders own 29.24% of the company’s stock.

Shares of Sinclair Broadcast Group stock opened at $44.21 on Tuesday. The firm has a market cap of $3.99 billion, a PE ratio of 13.20 and a beta of 1.50. Sinclair Broadcast Group Inc has a 1-year low of $25.13 and a 1-year high of $44.64. The company has a debt-to-equity ratio of 2.41, a quick ratio of 3.12 and a current ratio of 3.12.

Sinclair Broadcast Group (NASDAQ:SBGI) last issued its quarterly earnings results on Wednesday, February 27th. The company reported $2.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.12. The business had revenue of $893.30 million for the quarter, compared to analysts’ expectations of $878.46 million. Sinclair Broadcast Group had a net margin of 11.17% and a return on equity of 21.77%. The company’s revenue was up 25.4% compared to the same quarter last year. During the same quarter last year, the company posted $4.32 EPS. As a group, equities analysts expect that Sinclair Broadcast Group Inc will post 2.28 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 11th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Friday, March 8th. Sinclair Broadcast Group’s dividend payout ratio is presently 23.88%.

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About Sinclair Broadcast Group

Sinclair Broadcast Group, Inc operates as a television broadcasting company in the United States. It owns or provides various programming, operating, sales, and other non-programming operating services to television stations. The company broadcasts free over-the-air programming, such as network provided programs, locally-produced news, local sporting events, programming from program service arrangements, syndicated entertainment programs, and internally originated programming to television viewing audiences in the communities through its local television stations.

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

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