Bank of Montreal Can Acquires 3,919 Shares of Sinclair Broadcast Group Inc (NASDAQ:SBGI)

Bank of Montreal Can increased its position in Sinclair Broadcast Group Inc (NASDAQ:SBGI) by 95.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,031 shares of the company’s stock after buying an additional 3,919 shares during the period. Bank of Montreal […]

Bank of Montreal Can increased its position in Sinclair Broadcast Group Inc (NASDAQ:SBGI) by 95.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,031 shares of the company’s stock after buying an additional 3,919 shares during the period. Bank of Montreal Can’s holdings in Sinclair Broadcast Group were worth $135,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. American International Group Inc. raised its position in shares of Sinclair Broadcast Group by 2,223.2% during the 2nd quarter. American International Group Inc. now owns 31,782 shares of the company’s stock valued at $587,000 after buying an additional 30,414 shares in the last quarter. King Luther Capital Management Corp boosted its stake in shares of Sinclair Broadcast Group by 8.2% during the second quarter. King Luther Capital Management Corp now owns 77,450 shares of the company’s stock valued at $1,430,000 after purchasing an additional 5,895 shares in the last quarter. Natixis Advisors L.P. boosted its stake in shares of Sinclair Broadcast Group by 50.8% during the second quarter. Natixis Advisors L.P. now owns 96,184 shares of the company’s stock valued at $1,776,000 after purchasing an additional 32,386 shares in the last quarter. Paradigm Asset Management Co. LLC acquired a new stake in Sinclair Broadcast Group in the second quarter valued at approximately $43,000. Finally, Aigen Investment Management LP boosted its stake in Sinclair Broadcast Group by 366.7% in the second quarter. Aigen Investment Management LP now owns 82,512 shares of the company’s stock valued at $1,523,000 after acquiring an additional 64,834 shares in the last quarter. 65.83% of the stock is owned by institutional investors.

SBGI opened at $19.84 on Monday. The company’s 50 day simple moving average is $20.89 and its 200 day simple moving average is $18.46. The company has a debt-to-equity ratio of 6.81, a quick ratio of 2.87 and a current ratio of 2.87. Sinclair Broadcast Group Inc has a 1 year low of $10.57 and a 1 year high of $44.00. The stock has a market capitalization of $1.48 billion, a PE ratio of 4.61 and a beta of 1.33.

Sinclair Broadcast Group (NASDAQ:SBGI) last released its earnings results on Wednesday, August 5th. The company reported $3.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.83 by ($1.71). Sinclair Broadcast Group had a return on equity of 33.77% and a net margin of 6.37%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the business posted $0.45 earnings per share. Sinclair Broadcast Group’s revenue was up 66.4% on a year-over-year basis. As a group, sell-side analysts expect that Sinclair Broadcast Group Inc will post 4.72 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a $0.20 dividend. The ex-dividend date was Monday, August 31st. This represents a $0.80 annualized dividend and a yield of 4.03%. Sinclair Broadcast Group’s payout ratio is 26.94%.

A number of research analysts have weighed in on the stock. Wolfe Research cut shares of Sinclair Broadcast Group from an “outperform” rating to a “peer perform” rating and set a $19.00 price objective for the company. in a report on Monday, July 20th. Zacks Investment Research downgraded shares of Sinclair Broadcast Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Benchmark lowered their price target on shares of Sinclair Broadcast Group from $30.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, August 6th. ValuEngine cut shares of Sinclair Broadcast Group from a “sell” rating to a “strong sell” rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company boosted their price target on shares of Sinclair Broadcast Group from $13.00 to $16.00 and gave the stock an “underweight” rating in a report on Thursday, August 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $28.29.

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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