Insider Selling: Barry Faber Unloads 6,400 Shares of Sinclair Broadcast Group Stock (SBGI)
Sinclair Broadcast Group (NASDAQ:SBGI) VP Barry Faber unloaded 6,400 shares of the company’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $29.33, for a total transaction of $187,712.00. Following the sale, the vice president now directly owns 62,066 shares in the company, valued at approximately $1,820,396. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Sinclair Broadcast Group from an “underperform” rating to a “neutral” rating in a research note on Friday. They now have a $28.60 price target on the stock. Separately, analysts at Evercore Partners cut their price target on shares of Sinclair Broadcast Group from $37.00 to $36.00 in a research note on Monday, April 28th. They now have an “overweight” rating on the stock. Finally, analysts at TheStreet downgraded shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Monday, April 21st. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $33.77.
Sinclair Broadcast Group (NASDAQ:SBGI) traded up 0.48% during mid-day trading on Tuesday, hitting $29.47. 760,438 shares of the company’s stock traded hands. Sinclair Broadcast Group has a one year low of $23.28 and a one year high of $37.50. The stock’s 50-day moving average is $27.58 and its 200-day moving average is $30.29. The company has a market cap of $2.870 billion and a P/E ratio of 34.47.
Sinclair Broadcast Group (NASDAQ:SBGI) last announced its earnings results on Wednesday, May 7th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.22 by $0.05. The company had revenue of $412.65 million for the quarter, compared to the consensus estimate of $403.27 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 46.0% on a year-over-year basis. Analysts expect that Sinclair Broadcast Group will post $1.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Wednesday, May 28th.
Sinclair Broadcast Group, Inc is diversified television broadcasting company. The Company owns or provides certain programming, operating or sales services to more television stations.
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