The Bank of New York Mellon Corp. downgraded its share of Sinclair Broadcast Group (NASDAQ: SBGI) by 8.6% in the second quarter, according to its latest filings with the Securities and Exchange Commission. The company owned 6,254,015 shares of the company after selling 590,776 shares during the quarter. The Bank of New York Mellon Corp. owned about 6.11% of the Sinclair Broadcast Group in the amount of $ 201,067,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Guggenheim Capital LLC increased its stake in Sinclair Broadcast Group by 34.4% during the first quarter. Guggenheim Capital LLC now owns 60,653 shares of the company, valued at $ 1,899,000, after buying another 15,533 shares in the last quarter. Legal & General Group Plc increased its stake in Sinclair Broadcast Group by 24.0% during the first quarter. Legal & General Group Plc now owns 46,020 shares of the company, worth $ 1,440,000, after the purchase of another 8,914 shares in the last quarter. Xact Kapitalforvaltning AB increased its stake in Sinclair Broadcast Group by 49.5% during the first quarter. Xact Kapitalforvaltning AB now owns 10,867 shares of the company, worth $ 340,000, after buying another 3,600 shares in the last quarter. Bank of Montreal Can increased its stake in Sinclair Broadcast Group by 7,544.2% during the second quarter. Banco de Montreal You can now own 32,335 shares of the company in the amount of $ 1,040,000 after buying 31,912 additional shares in the last quarter. Finally, James Investment Research Inc. acquired a new stock position of Sinclair Broadcast Group during the second quarter in the amount of $ 2,229,000. Institutional investors hold 77.11% of the company's shares.
A number of stock research analysts recently weighed on the stock. Evercore ISI took over coverage of Sinclair Broadcast Group shares in a report on Tuesday, July 31. They define an "in-line" rating and a price goal of $ 34.00 in stock. BidaskClub has downgraded Sinclair Broadcast Group's shares from a "sell" rating to a "strong sell" rating in a report on Tuesday, July 31. TheStreet reduced Sinclair Broadcast Group's shares from a "b-" rating to a "c +" rating in a report on Monday, August 6. Stephens set a price target of $ 35.00 on Sinclair Broadcast Group shares and gave the company a "buy" rating on a report on Thursday, August 9. Finally, Royal Bank of Canada reduced its Sinclair Broadcast Group stock price target from $ 38.00 to $ 34.00 and set a "buy" rating on the stock in a report on Friday, 10 of August. Four investment analysts rated the stock with a maintenance rating, seven assigned a buy rating and one issued a strong buy rating for the company's stock. The company has an average "Buy" rating and an average price target of $ 38.60.
In other news from the Sinclair Broadcast Group, director Lawrence E. Mccanna sold 5,000 shares of the company in a deal on Wednesday, November 14. The shares were sold at an average price of US $ 31.68, for a total value of US $ 158,400.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 29.24% of the shares are currently owned by corporate insiders.
NASDAQ: SBGI opened at $ 30.48 on Friday. Sinclair Broadcast Group Inc has a one-year low of $ 25.13 and a one-year high of $ 40.15. The company has a debt-equity ratio of 2.43, a fast ratio of 2.98 and a current ratio of 2.98. The company has a market capitalization of $ 3.16 billion, a price / earnings ratio of 10.89 and a beta of 1.28.
The Sinclair Broadcast Group (NASDAQ: SBGI) published its quarterly results for the last time on Wednesday, November 7. The company reported $ 0.62 EPS for the quarter, exceeding the $ 0.56 to $ 0.06 estimate. Sinclair Broadcast Group had a net margin of 19.98% and a return on shareholders' equity of 19.79%. The company had revenue of $ 766.30 million in the quarter, compared with analyst estimates of $ 752.56 million. During the same period last year, the company earned $ 0.30 per share. The company's revenue grew 18.9% over the previous year. Analysts on the selling side anticipate that Sinclair Broadcast Group Inc will release 2.82 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 17. Shareholders registered on Friday, November 30, will receive a dividend of $ 0.20. This represents an annualized dividend of $ 0.80 and yield of 2.62%. This is a positive change from the previous quarterly dividend of the Sinclair Broadcast Group of $ 0.18. The ex-dividend date is Thursday, November 29. The Sinclair Broadcast Group dividend payment index is currently 25.71%.
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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, operation, or sales services to television stations. The company broadcasts free programming such as networked programs, locally produced news, local sports events, programming from program service agreements, syndicated entertainment programs, and internally-generated programming to community television audience audiences through its local programming. stations.
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