Other research analysts have also issued reports about the company. Benchmark cut their price objective on Sinclair Broadcast Group from $49.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Zacks Investment Research lowered Sinclair Broadcast Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 10th. TheStreet lowered Sinclair Broadcast Group from a “b” rating to a “c” rating in a report on Monday, December 9th. B. Riley lowered Sinclair Broadcast Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $35.00 to $22.00 in a report on Wednesday, March 18th. Finally, JPMorgan Chase & Co. assumed coverage on Sinclair Broadcast Group in a research note on Friday, December 13th. They issued a “neutral” rating and a $37.00 target price on the stock. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $43.13.
NASDAQ:SBGI traded up $1.92 during mid-day trading on Thursday, hitting $14.17. 2,351,933 shares of the company’s stock traded hands, compared to its average volume of 2,262,287. The company has a fifty day moving average of $21.42 and a 200 day moving average of $32.57. Sinclair Broadcast Group has a twelve month low of $10.57 and a twelve month high of $66.57. The company has a market capitalization of $1.12 billion, a P/E ratio of 27.78 and a beta of 1.42. The company has a debt-to-equity ratio of 7.43, a quick ratio of 2.57 and a current ratio of 2.57.
In other Sinclair Broadcast Group news, major shareholder Frederick G. Smith purchased 300,000 shares of the stock in a transaction on Tuesday, March 17th. The shares were bought at an average price of $10.94 per share, for a total transaction of $3,282,000.00. 32.30% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Rhumbline Advisers boosted its position in Sinclair Broadcast Group by 0.9% during the fourth quarter. Rhumbline Advisers now owns 65,861 shares of the company’s stock worth $2,196,000 after purchasing an additional 615 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in Sinclair Broadcast Group by 27.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 3,102 shares of the company’s stock worth $103,000 after purchasing an additional 659 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Sinclair Broadcast Group by 2,016.2% during the third quarter. Tower Research Capital LLC TRC now owns 783 shares of the company’s stock worth $33,000 after purchasing an additional 746 shares in the last quarter. Amalgamated Bank boosted its position in Sinclair Broadcast Group by 6.1% during the fourth quarter. Amalgamated Bank now owns 15,984 shares of the company’s stock worth $533,000 after purchasing an additional 925 shares in the last quarter. Finally, Orion Portfolio Solutions LLC purchased a new position in Sinclair Broadcast Group during the fourth quarter worth approximately $39,000. Institutional investors own 66.59% of the company’s stock.
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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