According to Zacks, “Sinclair Broadcast Group is a diversified broadcasting company that owns or provides programming services pursuant to local marketing agreements to more television stations than any other commercial broadcasting group in the United States. “
Several other research analysts have also recently weighed in on the company. Stephens reduced their price objective on Sinclair Broadcast Group from $80.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, November 19th. They noted that the move was a valuation call. ValuEngine raised Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. began coverage on Sinclair Broadcast Group in a research report on Friday, December 13th. They set a “neutral” rating and a $37.00 price objective for the company. TheStreet cut Sinclair Broadcast Group from a “b” rating to a “c” rating in a research report on Monday, December 9th. Finally, BidaskClub cut Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $53.00.
Shares of Sinclair Broadcast Group stock opened at $30.06 on Thursday. Sinclair Broadcast Group has a 1 year low of $28.45 and a 1 year high of $66.57. The business has a 50-day moving average of $31.74 and a two-hundred day moving average of $38.60. The company has a market capitalization of $2.70 billion, a P/E ratio of 14.05 and a beta of 1.04. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.66 and a quick ratio of 2.66.
Several hedge funds have recently bought and sold shares of the company. FMR LLC boosted its position in shares of Sinclair Broadcast Group by 15.7% during the fourth quarter. FMR LLC now owns 9,316,100 shares of the company’s stock worth $310,599,000 after buying an additional 1,267,227 shares during the period. Eagle Asset Management Inc. boosted its position in Sinclair Broadcast Group by 92.8% during the third quarter. Eagle Asset Management Inc. now owns 1,353,855 shares of the company’s stock valued at $57,863,000 after purchasing an additional 651,644 shares during the last quarter. Raging Capital Management LLC boosted its position in Sinclair Broadcast Group by 57.1% during the third quarter. Raging Capital Management LLC now owns 1,185,135 shares of the company’s stock valued at $50,653,000 after purchasing an additional 430,874 shares during the last quarter. Carillon Tower Advisers Inc. boosted its position in Sinclair Broadcast Group by 124.5% during the third quarter. Carillon Tower Advisers Inc. now owns 971,180 shares of the company’s stock valued at $41,508,000 after purchasing an additional 538,617 shares during the last quarter. Finally, American Financial Group Inc. boosted its position in Sinclair Broadcast Group by 39.2% during the fourth quarter. American Financial Group Inc. now owns 780,624 shares of the company’s stock valued at $26,026,000 after purchasing an additional 220,000 shares during the last quarter. 63.82% of the stock is owned by institutional investors.
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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