Millennium Management LLC trimmed its holdings in shares of Sinclair Broadcast Group Inc (NASDAQ:SBGI) by 67.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,864 shares of the company’s stock after selling 192,527 shares during the period. Millennium Management LLC owned approximately 0.10% of Sinclair Broadcast Group worth $4,054,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of SBGI. JPMorgan Chase & Co. raised its position in Sinclair Broadcast Group by 118.5% during the second quarter. JPMorgan Chase & Co. now owns 2,797,608 shares of the company’s stock valued at $148,832,000 after buying an additional 1,517,108 shares during the period. Renaissance Technologies LLC raised its position in Sinclair Broadcast Group by 33.3% during the second quarter. Renaissance Technologies LLC now owns 4,291,227 shares of the company’s stock valued at $230,139,000 after buying an additional 1,072,664 shares during the period. Invesco Ltd. raised its position in Sinclair Broadcast Group by 1,038.3% during the second quarter. Invesco Ltd. now owns 939,594 shares of the company’s stock valued at $50,389,000 after buying an additional 857,047 shares during the period. Eagle Asset Management Inc. acquired a new position in Sinclair Broadcast Group during the second quarter valued at $37,659,000. Finally, Capital Growth Management LP acquired a new position in Sinclair Broadcast Group during the second quarter valued at $33,680,000. 63.80% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SBGI stock opened at $30.44 on Friday. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.66 and a quick ratio of 2.66. Sinclair Broadcast Group Inc has a fifty-two week low of $25.14 and a fifty-two week high of $66.57. The stock’s 50-day moving average is $36.86 and its two-hundred day moving average is $45.58. The firm has a market cap of $2.80 billion, a P/E ratio of 9.09 and a beta of 1.09.

Sinclair Broadcast Group (NASDAQ:SBGI) last issued its earnings results on Wednesday, November 6th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.98). Sinclair Broadcast Group had a return on equity of 25.47% and a net margin of 5.99%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the company earned $0.62 earnings per share. The business’s revenue for the quarter was up 46.9% on a year-over-year basis.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.63%. The ex-dividend date is Wednesday, November 27th. Sinclair Broadcast Group’s payout ratio is currently 23.88%.

Several research firms recently weighed in on SBGI. BidaskClub lowered Sinclair Broadcast Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 19th. TheStreet lowered Sinclair Broadcast Group from a “b” rating to a “c” rating in a research report on Monday, December 9th. ValuEngine lowered Sinclair Broadcast Group from a “sell” rating to a “strong sell” rating in a research report on Friday, November 8th. Stephens dropped their price target on Sinclair Broadcast Group from $80.00 to $55.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 19th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research report on Thursday, December 5th. Three analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Sinclair Broadcast Group currently has an average rating of “Hold” and a consensus target price of $53.00.

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

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