Sinclair Broadcast Group Inc (NASDAQ:SBGI) Vice Chairman David B. Amy sold 22,032 shares of Sinclair Broadcast Group stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $38.38, for a total value of $845,588.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
NASDAQ SBGI traded up $0.85 during mid-day trading on Friday, reaching $45.10. The stock had a trading volume of 441,616 shares, compared to its average volume of 1,128,494. Sinclair Broadcast Group Inc has a 1 year low of $25.13 and a 1 year high of $45.59. The firm has a market cap of $4.06 billion, a P/E ratio of 13.46 and a beta of 1.50. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 2.41.
Sinclair Broadcast Group (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, February 27th. The company reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.12. Sinclair Broadcast Group had a net margin of 11.17% and a return on equity of 21.77%. The company had revenue of $893.30 million during the quarter, compared to analyst estimates of $878.46 million. During the same period in the previous year, the business earned $4.32 EPS. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis. As a group, equities analysts expect that Sinclair Broadcast Group Inc will post 2.28 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in SBGI. Covington Capital Management purchased a new position in Sinclair Broadcast Group in the 4th quarter worth approximately $33,000. Enlightenment Research LLC purchased a new stake in Sinclair Broadcast Group during the 4th quarter valued at $53,000. Oppenheimer Asset Management Inc. purchased a new stake in Sinclair Broadcast Group during the 4th quarter valued at $103,000. PNC Financial Services Group Inc. raised its stake in Sinclair Broadcast Group by 114.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,419 shares of the company’s stock valued at $211,000 after buying an additional 3,959 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Sinclair Broadcast Group during the 3rd quarter valued at $221,000. Institutional investors own 67.04% of the company’s stock.
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About Sinclair Broadcast Group
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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