Traders Buy Large Volume of Put Options on Sinclair Broadcast Group (SBGI)
Shares of Sinclair Broadcast Group (NASDAQ:SBGI) saw unusually large options trading on Monday. Investors purchased 3,819 put options on the company, American Banking and Market News reports. This represents an increase of approximately 874% compared to the average volume of 392 put options.
Sinclair Broadcast Group (NASDAQ:SBGI) traded up 0.03% on Monday, hitting $32.29. The stock had a trading volume of 1,633,419 shares. Sinclair Broadcast Group has a 52-week low of $23.28 and a 52-week high of $37.50. The stock has a 50-day moving average of $33.21 and a 200-day moving average of $29.76. The company has a market cap of $3.145 billion and a P/E ratio of 30.17.
Sinclair Broadcast Group (NASDAQ:SBGI) last announced its earnings results on Wednesday, August 6th. The company reported $0.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.37 by $0.05. The company had revenue of $455.14 million for the quarter, compared to the consensus estimate of $440.66 million. During the same quarter last year, the company posted $0.19 earnings per share. Sinclair Broadcast Group’s revenue was up 44.9% compared to the same quarter last year. On average, analysts predict that Sinclair Broadcast Group will post $1.88 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Wednesday, August 27th. This is a positive change from Sinclair Broadcast Group’s previous quarterly dividend of $0.15.
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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