Sinclair Broadcast Group Target of Unusually Large Options Trading (SBGI)
Sinclair Broadcast Group (NASDAQ:SBGI) was the recipient of unusually large options trading on Wednesday. Traders purchased 18,458 call options on the company, American Banking & Market News reports. This represents an increase of 175% compared to the typical volume of 6,721 call options.
In other Sinclair Broadcast Group news, Director Lawrence E. Mccanna sold 1,500 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $29.36, for a total value of $44,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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 issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $33.77.
Shares of Sinclair Broadcast Group (NASDAQ:SBGI) traded up 15.60% on Wednesday, hitting $33.80. The stock had a trading volume of 10,481,038 shares. 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 $29.70 and its 200-day moving average is $29.79. The company has a market cap of $3.292 billion and a P/E ratio of 34.36.
Sinclair Broadcast Group (NASDAQ:SBGI) last released its earnings data 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.
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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