Sinclair Broadcast Group Inc (NASDAQ:SBGI) insider David D. Smith bought 395,000 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was bought at an average cost of $55.10 per share, for a total transaction of $21,764,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

SBGI opened at $59.05 on Friday. The business’s fifty day moving average price is $54.20. The company has a debt-to-equity ratio of 2.66, a quick ratio of 3.12 and a current ratio of 3.12. The stock has a market capitalization of $5.24 billion, a P/E ratio of 17.63 and a beta of 1.15. Sinclair Broadcast Group Inc has a one year low of $25.13 and a one year high of $66.57.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its earnings results on Wednesday, May 8th. The company reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.16). The firm had revenue of $722.10 million for the quarter, compared to analysts’ expectations of $707.94 million. Sinclair Broadcast Group had a return on equity of 20.45% and a net margin of 10.28%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Equities analysts anticipate that Sinclair Broadcast Group Inc will post 2.76 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were given a dividend of $0.20 per share. The ex-dividend date was Thursday, May 30th. This represents a $0.80 dividend on an annualized basis and a yield of 1.35%. Sinclair Broadcast Group’s payout ratio is 23.88%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Federated Investors Inc. PA boosted its position in Sinclair Broadcast Group by 77.6% during the first quarter. Federated Investors Inc. PA now owns 626,286 shares of the company’s stock worth $24,099,000 after purchasing an additional 273,631 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Sinclair Broadcast Group by 33.0% in the first quarter. JPMorgan Chase & Co. now owns 1,280,500 shares of the company’s stock worth $49,274,000 after acquiring an additional 317,424 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in shares of Sinclair Broadcast Group by 322.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 21,043 shares of the company’s stock worth $554,000 after acquiring an additional 16,062 shares during the last quarter. LSV Asset Management raised its holdings in shares of Sinclair Broadcast Group by 61.2% in the first quarter. LSV Asset Management now owns 937,637 shares of the company’s stock worth $36,080,000 after acquiring an additional 355,804 shares during the last quarter. Finally, Covington Capital Management acquired a new position in shares of Sinclair Broadcast Group in the fourth quarter worth $33,000. Institutional investors own 65.00% of the company’s stock.

SBGI has been the topic of a number of analyst reports. Benchmark lifted their price target on Sinclair Broadcast Group from $45.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. B. Riley lifted their price target on Airgain from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Zacks Investment Research upgraded DLH from a “sell” rating to a “hold” rating in a research note on Tuesday. Evercore ISI restated a “hold” rating and issued a $80.00 price target on shares of Fortinet in a research note on Tuesday, May 7th. Finally, ValuEngine downgraded Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $48.67.

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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Insider Buying and Selling by Quarter for Sinclair Broadcast Group (NASDAQ:SBGI)

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