Insider Selling: Frederick G. Smith Sells 110,185 Shares of Sinclair Broadcast Group Stock (SBGI)
Sinclair Broadcast Group (NASDAQ:SBGI) major shareholder Frederick G. Smith unloaded 110,185 shares of the company’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $30.31, for a total value of $3,339,707.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
A number of analysts have recently weighed in on SBGI shares. Analysts at Zacks upgraded shares of Sinclair Broadcast Group from an “underperform” rating to a “neutral” rating in a research note on Friday, May 16th. 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 assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $33.77.
Shares of Sinclair Broadcast Group (NASDAQ:SBGI) traded down 2.71% on Thursday, hitting $30.17. 612,961 shares of the company’s stock traded hands. Sinclair Broadcast Group has a 52-week low of $23.28 and a 52-week high of $37.50. The stock’s 50-day moving average is $29.44 and its 200-day moving average is $29.94. The company has a market cap of $2.938 billion and a P/E ratio of 36.44.
Sinclair Broadcast Group (NASDAQ:SBGI) last released its earnings data on Wednesday, May 7th. The company reported $0.27 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.21 earnings per share. Sinclair Broadcast Group’s revenue was up 46.0% compared to the same quarter last year. Analysts expect that Sinclair Broadcast Group will post $1.95 EPS for the current fiscal year.
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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