4,006K shares changed hands in the last trading session. Shares saw a steep increase in trading volume of 57.07% over the normal average daily volume.
Here are a few additional firms who have increased or decreased their stake in (SBGI). Three Peaks Capital Management, LLC bolstered its position by buying 1,062 shares an increase of 0.6% in the quarter. Three Peaks Capital Management, LLC claims 164,987 shares worth $5,428,000. The total value of its holdings decreased 18.2%. Chartwell Investment Partners, LLC added to its stake by buying 55,145 shares an increase of 84.0% as of 06/30/2017. Chartwell Investment Partners, LLC currently owns 120,820 shares valued at $3,975,000. The value of the position overall is up by 49.4%.
Federated Investors Inc /pa/ augmented its ownership by buying 22,520 shares an increase of 36.6%. Federated Investors Inc /pa/ now controls 84,066 shares worth $2,766,000. The total value of its holdings increased 11.0%. As of quarter end Gamco Investors, Inc. Et Al had sold a total of 500 shares trimming its stake by 0.2%. The value of the investment in SBGI went from $9,351,000 to $7,580,000 a change of 18.9% quarter over quarter.
On November 3 the company was set at “Overweight” in a report from Stephens & Co. a boost from the previous “Equal-weight” rating. Stephens & Co. began coverage by announcing an initial rating of “Equal-weight” and price target of $37.00.
July 29 investment analysts at Benchmark maintained a stock rating of “Buy” but raised the price target to $37.00 from $35.00. On November 6 JP Morgan made no change to the company rating of “Neutral” and moved down the price target from $35.00 to $31.00.
On April 28 Evercore Partners made no change to the stock rating of “Overweight” and lowered the price target to $36.00 from $37.00. On April 9 the stock rating was upgraded to “Outperform” from “Market Perform” by analysts at Wells Fargo.
The company is so far trading down from yesterday’s close of $31.9. Sinclair Broadcast Group, Inc. also announced a dividend for shareholders that will be paid on Friday the 15th of September 2017. The dividend payment will be $0.180 per share for the quarter or $0.72 on an annualized basis. The dividend yield will be $2.26. The ex-dividend date will be on Tuesday the 30th of May 2017.
The stock is trading at $31.40 a tad under the 50 day moving average which is $34.10 and a tad below the 200 day moving average of $36.27. The 50 day moving average went down by -7.92% and the 200 day average moved down $-4.87.
The P/E ratio is currently 11.01 and the market cap of the company is 3.22B. As of the last earnings report the EPS was $2.85 and is estimated to be $2.01 for the current year with 102,699,000 shares outstanding. Next quarter’s EPS is forecasted to be $0.63 with next year’s EPS anticipated to be $3.12.
Sinclair Broadcast Group, Inc., launched on November 19, 1986, 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 content distributed through its broadcast platform consists of programming provided by third-party networks and syndicators, local news, its owns networks, and other original programming produced by it. The Company also owns digital and Internet media products that are complementary to its portfolio of television station related digital properties. It focuses on offering marketing solutions to advertisers through its television and digital platforms and digital agency services. Its other business consists of original networks and content, digital and Internet solutions, technical services and other non-media investments. It operates technical services companies, which focuses on supply and maintenance of broadcast transmission systems, as well as research and development for the advancement of broadcast technology, and it manages other non-media related investments..