Quantinno Capital Management LP Takes $497,000 Position in Sinclair Broadcast Group Inc (NASDAQ:SBGI)
Quantinno Capital Management LP acquired a new stake in Sinclair Broadcast Group Inc (NASDAQ:SBGI) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,915 shares of the company’s stock, valued at approximately $497,000.
Other hedge funds also recently modified their holdings of the company. Federated Investors Inc. PA lifted its holdings in shares of Sinclair Broadcast Group by 77.6% in the 1st quarter. Federated Investors Inc. PA now owns 626,286 shares of the company’s stock valued at $24,099,000 after buying an additional 273,631 shares during the period. JPMorgan Chase & Co. raised its holdings in Sinclair Broadcast Group by 33.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,280,500 shares of the company’s stock worth $49,274,000 after purchasing an additional 317,424 shares during the period. Metropolitan Life Insurance Co. NY raised its holdings in Sinclair Broadcast Group by 322.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 21,043 shares of the company’s stock worth $554,000 after purchasing an additional 16,062 shares during the period. LSV Asset Management raised its holdings in Sinclair Broadcast Group by 61.2% in the 1st quarter. LSV Asset Management now owns 937,637 shares of the company’s stock worth $36,080,000 after purchasing an additional 355,804 shares during the period. Finally, Covington Capital Management acquired a new position in Sinclair Broadcast Group in the 4th quarter worth about $33,000. 65.02% of the stock is owned by institutional investors and hedge funds.
SBGI has been the subject of a number of analyst reports. Zacks Investment Research cut Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Benchmark increased their target price on Sinclair Broadcast Group from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, February 28th. BidaskClub cut Sinclair Broadcast Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 21st. Finally, ValuEngine raised Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Sinclair Broadcast Group currently has a consensus rating of “Buy” and a consensus target price of $48.67.
Shares of SBGI stock traded down $0.15 during trading hours on Friday, reaching $51.65. The company had a trading volume of 556,047 shares, compared to its average volume of 1,066,062. The company has a debt-to-equity ratio of 2.66, a current ratio of 3.12 and a quick ratio of 3.12. The firm has a market capitalization of $4.72 billion, a PE ratio of 15.42 and a beta of 1.25. Sinclair Broadcast Group Inc has a 12-month low of $25.13 and a 12-month high of $66.57.
Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.16). The company had revenue of $722.10 million during the quarter, compared to analysts’ expectations of $707.94 million. Sinclair Broadcast Group had a net margin of 10.28% and a return on equity of 20.45%. Sinclair Broadcast Group’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $0.42 earnings per share. On average, equities research analysts expect that Sinclair Broadcast Group Inc will post 2.76 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.55%. Sinclair Broadcast Group’s dividend payout ratio (DPR) is presently 23.88%.
Sinclair Broadcast Group Profile
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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