Sinclair Broadcast Group Inc (SBGI) Vice Chairman David B. Amy Sells 22,032 Shares

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.

SBGI has been the topic of several research reports. Zacks Investment Research cut Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Benchmark lifted their price objective on Sinclair Broadcast Group from $39.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, February 28th. Finally, BidaskClub raised Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research report on Monday, January 7th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $38.56.

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.

ILLEGAL ACTIVITY WARNING: “Sinclair Broadcast Group Inc (SBGI) Vice Chairman David B. Amy Sells 22,032 Shares” was published by Baseball Daily News and is owned by of Baseball Daily News. If you are viewing this piece on another website, it was copied illegally and republished in violation of United States and international trademark & copyright law. The original version of this piece can be accessed at https://www.baseballdailydigest.com/news/2019/04/26/sinclair-broadcast-group-inc-sbgi-vice-chairman-sells-845588-16-in-stock.html.

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.

Recommended Story: What is Blockchain?

Receive News & Ratings for Sinclair Broadcast Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sinclair Broadcast Group and related companies with MarketBeat.com's FREE daily email newsletter.