Contrarius Investment Management Ltd Purchases New Holdings in Sinclair Broadcast Group Inc (NASDAQ:SBGI)

Contrarius Investment Management Ltd purchased a new stake in Sinclair Broadcast Group Inc (NASDAQ:SBGI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 326,908 shares of the company’s stock, valued at approximately $10,899,000. Contrarius Investment Management Ltd owned approximately 0.35% of Sinclair Broadcast Group at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SBGI. Tower Research Capital LLC TRC increased its holdings in shares of Sinclair Broadcast Group by 2,016.2% in the third quarter. Tower Research Capital LLC TRC now owns 783 shares of the company’s stock valued at $33,000 after purchasing an additional 746 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Sinclair Broadcast Group in the fourth quarter valued at approximately $60,000. First Mercantile Trust Co. acquired a new stake in shares of Sinclair Broadcast Group in the third quarter valued at approximately $89,000. SG Americas Securities LLC increased its holdings in shares of Sinclair Broadcast Group by 102.4% in the fourth quarter. SG Americas Securities LLC now owns 3,444 shares of the company’s stock valued at $115,000 after purchasing an additional 145,520 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Sinclair Broadcast Group by 32.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,104 shares of the company’s stock valued at $170,000 after purchasing an additional 1,246 shares in the last quarter. 63.82% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on SBGI shares. JPMorgan Chase & Co. started coverage on shares of Sinclair Broadcast Group in a research note on Friday, December 13th. They issued a “neutral” rating and a $37.00 price objective on the stock. ValuEngine raised shares of Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Zacks Investment Research raised shares of Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a research note on Thursday. TheStreet cut shares of Sinclair Broadcast Group from a “b” rating to a “c” rating in a research note on Monday, December 9th. Finally, BidaskClub cut shares of Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $53.00.

Shares of SBGI stock opened at $29.83 on Friday. Sinclair Broadcast Group Inc has a 52-week low of $28.45 and a 52-week high of $66.57. The stock has a market cap of $2.70 billion, a PE ratio of 13.94 and a beta of 1.04. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.66 and a current ratio of 2.66. The firm’s 50 day moving average price is $31.68 and its two-hundred day moving average price is $38.49.

Sinclair Broadcast Group Profile

Sinclair Broadcast Group, Inc operates as a television broadcasting company in the United States. It owns or provides various programming, operating, sales, and other non-programming operating services to television stations. The company broadcasts free over-the-air programming, such as network provided programs, locally-produced news, local sporting events, programming from program service arrangements, syndicated entertainment programs, and internally originated programming to television viewing audiences in the communities through its local television stations.

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Institutional Ownership by Quarter for Sinclair Broadcast Group (NASDAQ:SBGI)

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