Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) was the target of unusually large options trading on Wednesday. Stock investors acquired 23,502 call options on the company. This is an increase of approximately 1,629% compared to the average daily volume of 1,359 call options.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Sinclair Broadcast Group by 9.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,170 shares of the company’s stock valued at $104,000 after purchasing an additional 273 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Sinclair Broadcast Group in the 2nd quarter worth approximately $141,000. FNY Managed Accounts LLC purchased a new stake in Sinclair Broadcast Group in the 3rd quarter worth approximately $153,000. Rational Advisors LLC purchased a new stake in Sinclair Broadcast Group in the 3rd quarter worth approximately $234,000. Finally, PNC Financial Services Group Inc. increased its holdings in Sinclair Broadcast Group by 141.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,786 shares of the company’s stock worth $255,000 after acquiring an additional 4,556 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

SBGI has been the subject of a number of recent analyst reports. Wells Fargo & Co reissued an “outperform” rating and issued a $55.00 target price on shares of Sinclair Broadcast Group in a research report on Monday, October 2nd. ValuEngine raised Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research raised Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Wednesday, October 4th. Deutsche Bank initiated coverage on Sinclair Broadcast Group in a research report on Friday, October 20th. They issued a “buy” rating and a $46.00 target price for the company. Finally, FBR & Co initiated coverage on Sinclair Broadcast Group in a research report on Tuesday, October 31st. They issued a “buy” rating and a $43.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $45.42.

Shares of Sinclair Broadcast Group (SBGI) opened at $39.05 on Friday. Sinclair Broadcast Group has a 52-week low of $26.70 and a 52-week high of $43.05. The company has a market cap of $3,970.00, a PE ratio of 14.68, a PEG ratio of 1.96 and a beta of 1.93. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.74 and a current ratio of 1.74.

Sinclair Broadcast Group (NASDAQ:SBGI) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.13). Sinclair Broadcast Group had a net margin of 9.06% and a return on equity of 23.27%. The business had revenue of $670.90 million for the quarter, compared to analysts’ expectations of $671.42 million. During the same period in the previous year, the company earned $0.54 EPS. Sinclair Broadcast Group’s revenue for the quarter was down 3.3% compared to the same quarter last year. sell-side analysts expect that Sinclair Broadcast Group will post 1.98 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Thursday, November 30th. Sinclair Broadcast Group’s payout ratio is currently 27.07%.

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Sinclair Broadcast Group Company Profile

Sinclair Broadcast Group, Inc is a television broadcasting company. The Company focuses on providing content on its local television stations and digital platforms. The Company’s segments are broadcast, other and corporate. The Broadcast segment consists of its broadcast television stations. The content distributed through its broadcast platform consists of programming provided by third-party networks and syndicators, local news, it owns networks, and other original programming produced by it.

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