US Bancorp DE Reduces Position in Sinclair Broadcast Group Inc (NASDAQ:SBGI)
US Bancorp DE decreased its holdings in shares of Sinclair Broadcast Group Inc (NASDAQ:SBGI) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,980 shares of the company’s stock after selling 1,727 shares during the period. US Bancorp DE’s holdings in Sinclair Broadcast Group were worth $1,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of the company. FNY Managed Accounts LLC purchased a new stake in shares of Sinclair Broadcast Group during the 3rd quarter valued at about $153,000. Cheyne Capital Management UK LLP purchased a new stake in Sinclair Broadcast Group in the 3rd quarter worth about $170,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Sinclair Broadcast Group by 68.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,346 shares of the company’s stock worth $171,000 after purchasing an additional 2,176 shares during the period. Parametrica Management Ltd purchased a new stake in Sinclair Broadcast Group in the 4th quarter worth about $207,000. Finally, Rational Advisors LLC purchased a new stake in Sinclair Broadcast Group in the 3rd quarter worth about $234,000. 87.70% of the stock is owned by hedge funds and other institutional investors.
Shares of Sinclair Broadcast Group Inc (NASDAQ SBGI) opened at $33.00 on Thursday. Sinclair Broadcast Group Inc has a 52-week low of $26.70 and a 52-week high of $41.40. The stock has a market cap of $3,444.20, a PE ratio of 5.83, a PEG ratio of 1.58 and a beta of 1.83. The company has a debt-to-equity ratio of 2.53, a current ratio of 2.36 and a quick ratio of 2.36.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Thursday, March 8th. Sinclair Broadcast Group’s dividend payout ratio (DPR) is presently 12.72%.
A number of brokerages have commented on SBGI. Zacks Investment Research downgraded shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. BidaskClub downgraded shares of Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research note on Friday, March 2nd. ValuEngine upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research note on Friday, March 2nd. B. Riley decreased their target price on shares of Sinclair Broadcast Group from $53.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, March 1st. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Sinclair Broadcast Group in a research report on Thursday, March 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. Sinclair Broadcast Group currently has a consensus rating of “Buy” and an average price target of $46.64.
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Sinclair Broadcast Group Company Profile
Sinclair Broadcast Group, Inc is a television broadcasting company. The Company focuses on providing content on its local television stations and digital platforms. The Company’s segments are broadcast, other and corporate. The Broadcast segment consists of its broadcast television stations. The content distributed through its broadcast platform consists of programming provided by third-party networks and syndicators, local news, it owns networks, and other original programming produced by it.
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