California Public Employees Retirement System Has $4.92 Million Holdings in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI)

California Public Employees Retirement System boosted its holdings in shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) by 5.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 153,560 shares of the company’s stock after buying an additional 8,460 shares during the quarter. California Public Employees Retirement System owned approximately 0.15% of Sinclair Broadcast Group worth $4,922,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Amalgamated Bank lifted its stake in Sinclair Broadcast Group by 3.1% during the second quarter. Amalgamated Bank now owns 8,929 shares of the company’s stock worth $294,000 after purchasing an additional 269 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Sinclair Broadcast Group by 9.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,170 shares of the company’s stock worth $104,000 after purchasing an additional 273 shares during the last quarter. Sound Point Capital Management LP lifted its stake in Sinclair Broadcast Group by 0.3% during the second quarter. Sound Point Capital Management LP now owns 300,622 shares of the company’s stock worth $9,890,000 after purchasing an additional 895 shares during the last quarter. Bancorpsouth Inc. lifted its stake in Sinclair Broadcast Group by 11.4% during the second quarter. Bancorpsouth Inc. now owns 10,623 shares of the company’s stock worth $349,000 after purchasing an additional 1,091 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Sinclair Broadcast Group by 2.7% during the second quarter. State Board of Administration of Florida Retirement System now owns 47,930 shares of the company’s stock worth $1,577,000 after buying an additional 1,250 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Sinclair Broadcast Group, Inc. (SBGI) opened at $39.05 on Tuesday. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.74 and a quick ratio of 1.74. The company has a market cap of $3,972.99, a PE ratio of 14.68, a price-to-earnings-growth ratio of 2.18 and a beta of 1.93. Sinclair Broadcast Group, Inc. has a one year low of $26.70 and a one year high of $43.05.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.13). Sinclair Broadcast Group had a net margin of 9.06% and a return on equity of 23.27%. The firm had revenue of $670.90 million during the quarter, compared to analysts’ expectations of $671.42 million. During the same quarter last year, the business posted $0.54 EPS. The company’s quarterly revenue was down 3.3% on a year-over-year basis. equities research analysts forecast that Sinclair Broadcast Group, Inc. will post 1.98 earnings per share for the current year.

A number of research firms recently weighed in on SBGI. ValuEngine downgraded Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. Deutsche Bank assumed coverage on Sinclair Broadcast Group in a report on Friday, October 20th. They set a “buy” rating and a $46.00 price target for the company. B. Riley increased their price target on Sinclair Broadcast Group from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, November 27th. BidaskClub downgraded Sinclair Broadcast Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Finally, Jefferies Group initiated coverage on shares of Sinclair Broadcast Group in a research report on Thursday, December 14th. They set a “buy” rating and a $48.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Sinclair Broadcast Group presently has an average rating of “Buy” and an average price target of $45.42.

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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.

Institutional Ownership by Quarter for Sinclair Broadcast Group (NASDAQ:SBGI)

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