Frederick G. Smith Sells 12,488 Shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) Stock

Friday, June 11, 2021 | MarketBeat

Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) VP Frederick G. Smith sold 12,488 shares of the company's stock in a transaction on Wednesday, June 9th. The stock was sold at an average price of $33.30, for a total transaction of $415,850.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Frederick G. Smith also recently made the following trade(s):

  • On Monday, June 7th, Frederick G. Smith sold 40,819 shares of Sinclair Broadcast Group stock. The stock was sold at an average price of $33.46, for a total transaction of $1,365,803.74.
  • On Thursday, June 3rd, Frederick G. Smith sold 63,213 shares of Sinclair Broadcast Group stock. The stock was sold at an average price of $33.74, for a total transaction of $2,132,806.62.

Shares of SBGI stock traded down $0.35 on Friday, hitting $31.84. The stock had a trading volume of 2,912 shares, compared to its average volume of 714,646. The company's 50 day moving average is $32.19. The company has a market cap of $2.40 billion, a PE ratio of -0.96 and a beta of 1.68. Sinclair Broadcast Group, Inc. has a 12-month low of $16.50 and a 12-month high of $39.60.

Sinclair Broadcast Group (NASDAQ:SBGI) last announced its earnings results on Tuesday, May 4th. The company reported ($0.16) EPS for the quarter, beating the Thomson Reuters' consensus estimate of ($2.18) by $2.02. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. Sinclair Broadcast Group had a negative net margin of 42.82% and a negative return on equity of 163.38%. The firm's revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.35 earnings per share. As a group, sell-side analysts predict that Sinclair Broadcast Group, Inc. will post -5.51 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Tuesday, June 1st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, May 28th. This represents a $0.80 annualized dividend and a dividend yield of 2.51%. Sinclair Broadcast Group's dividend payout ratio is currently 10.20%.

Separately, Zacks Investment Research upgraded shares of Sinclair Broadcast Group from a "sell" rating to a "hold" rating in a report on Wednesday, May 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of "Hold" and an average target price of $27.20.

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Sinclair Broadcast Group by 1.9% in the fourth quarter. BlackRock Inc. now owns 3,425,743 shares of the company's stock valued at $109,110,000 after purchasing an additional 63,412 shares during the last quarter. Blueshift Asset Management LLC grew its position in Sinclair Broadcast Group by 21.9% during the first quarter. Blueshift Asset Management LLC now owns 21,022 shares of the company's stock valued at $615,000 after buying an additional 3,771 shares during the period. Norges Bank bought a new position in Sinclair Broadcast Group during the fourth quarter valued at about $18,730,000. Gabelli Funds LLC grew its position in Sinclair Broadcast Group by 4.3% during the fourth quarter. Gabelli Funds LLC now owns 438,500 shares of the company's stock valued at $13,966,000 after buying an additional 18,000 shares during the period. Finally, Squarepoint Ops LLC grew its position in Sinclair Broadcast Group by 118.0% during the fourth quarter. Squarepoint Ops LLC now owns 51,506 shares of the company's stock valued at $1,640,000 after buying an additional 27,882 shares during the period. Institutional investors own 55.58% of the company's stock.

Sinclair Broadcast Group Company Profile

Sinclair Broadcast Group, Inc operates as a diversified television media company in the United States. The company operates in two segments, Broadcast and Local Sports. 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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