Insider Move: What after Lawrence Mccanna’s Insider Sale of Sinclair Broadcast Group Inc (NASDAQ:SBGI) Stock?

November 23, 2016 - By Vivian Park

Insider Move: What after Lawrence Mccanna's Insider Sale of Sinclair Broadcast Group Inc (NASDAQ:SBGI) Stock?

Lawrence Mccanna Insider Sell

Lawrence Mccanna, the director of Sinclair Broadcast Group Inc made unloading of 5,000 shares with an average market price per share of $32.0 in the public company, that are having a worth of $159,832 U.S. Dollars. Now, Lawrence Mccanna holds 23,875 shares or 0.03% of the Company’s total market cap. The sale was revealed in a SEC document on November 23, 2016.

Sinclair Broadcast Group Inc (NASDAQ:SBGI) Ratings Coverage

Out of 4 analysts covering Sinclair Broadcast Group Inc (NASDAQ:SBGI), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $40 is the highest target while $34 is the lowest. The $38 average target is 19.69% above today’s ($31.75) stock price. Sinclair Broadcast Group Inc has been the topic of 9 analyst reports since July 30, 2015 according to StockzIntelligence Inc. Benchmark maintained Sinclair Broadcast Group Inc (NASDAQ:SBGI) on Thursday, November 5 with “Buy” rating. The firm earned “Outperform” rating on Friday, January 29 by Wedbush. The stock of Sinclair Broadcast Group Inc (NASDAQ:SBGI) has “Equal-Weight” rating given on Wednesday, November 18 by Stephens. The rating was upgraded by Stephens on Thursday, November 3 to “Overweight”. The firm has “Outperform” rating given on Tuesday, September 27 by Wedbush. The stock of Sinclair Broadcast Group Inc (NASDAQ:SBGI) has “Outperform” rating given on Tuesday, November 10 by RBC Capital Markets.

Insitutional Activity: The institutional sentiment increased to 0.97 in 2016 Q2. Its up 0.02, from 0.95 in 2016Q1. The ratio improved, as 30 funds sold all Sinclair Broadcast Group Inc shares owned while 74 reduced positions. 32 funds bought stakes while 67 increased positions. They now own 64.03 million shares or 6.22% less from 68.27 million shares in 2016Q1.

Northern Trust Corporation owns 812,552 shares or 0.01% of their US portfolio. Aqr Mgmt Lc has invested 0.01% of its portfolio in Sinclair Broadcast Group Inc (NASDAQ:SBGI). Verition Fund Management has 0.03% invested in the company for 7,066 shares. Moreover, Pitcairn has 0.05% invested in Sinclair Broadcast Group Inc (NASDAQ:SBGI) for 13,930 shares. Moreover, Gmt Capital has 2.97% invested in Sinclair Broadcast Group Inc (NASDAQ:SBGI) for 4.11M shares. Regions holds 0.02% or 61,872 shares in its portfolio. Ladenburg Thalmann Finance Services Incorporated last reported 5,904 shares in the company. The New York-based Goldman Sachs has invested 0.01% in Sinclair Broadcast Group Inc (NASDAQ:SBGI). Metropolitan Life Ins Ny owns 46,563 shares or 0.01% of their US portfolio. The New York-based New York State Teachers Retirement Systems has invested 0% in Sinclair Broadcast Group Inc (NASDAQ:SBGI). Investec Asset Mgmt North America last reported 0.1% of its portfolio in the stock. Morgan Stanley holds 0.01% of its portfolio in Sinclair Broadcast Group Inc (NASDAQ:SBGI) for 875,455 shares. Rothschild Asset Management, a New York-based fund reported 175,534 shares. Peak6 Invests Lp last reported 0.01% of its portfolio in the stock. Babson Mngmt Ltd Liability Corporation has invested 0.01% of its portfolio in Sinclair Broadcast Group Inc (NASDAQ:SBGI).

Insider Transactions: Since October 5, 2016, the stock had 0 insider buys, and 1 sale for $57,260 net activity. MCCANNA LAWRENCE E also sold $57,260 worth of Sinclair Broadcast Group Inc (NASDAQ:SBGI) shares.

The stock closed at $31.75 during the last session. It is down 2.70% since April 21, 2016 and is downtrending. It has underperformed by 8.03% the S&P500.

Sinclair Broadcast Group, Inc. is a television broadcasting company. The company has a market cap of $2.91 billion. The Firm owns or provides certain programming, operating or sales services to television stations in the United States. It has a 16.55 P/E ratio. The Company’s divisions include Broadcast, Other and Corporate.

According to Zacks Investment Research, “Sinclair Broadcast Group is a diversified broadcasting company that owns or provides programming services pursuant to local marketing agreements to more television stations than any other commercial broadcasting group in the United States.”

Analysts await Sinclair Broadcast Group Inc (NASDAQ:SBGI) to report earnings on February, 22. They expect $1.36 EPS, up 122.95% or $0.75 from last year’s $0.61 per share. SBGI’s profit will be $124.65 million for 5.84 P/E if the $1.36 EPS becomes a reality. After $0.70 actual EPS reported by Sinclair Broadcast Group Inc for the previous quarter, Wall Street now forecasts 94.29% EPS growth.

More important recent Sinclair Broadcast Group Inc (NASDAQ:SBGI) news were published by: Fool.com which released: “Why Sinclair Broadcast Group Inc Stock Slipped Today” on September 20, 2016, also Wsj.com published article titled: “Sinclair Broadcast Group to Acquire Tennis Channel”, Prnewswire.com published: “Sinclair Broadcast Group Enters Into Retransmission Consent Agreement With Comcast” on August 03, 2016. More interesting news about Sinclair Broadcast Group Inc (NASDAQ:SBGI) was released by: Baltimoresun.com and their article: “Sinclair Broadcast shuffles top management in second round of changes” with publication date: November 11, 2016.

SBGI Company Profile

Sinclair Broadcast Group, Inc., incorporated on November 19, 1986, is a television broadcasting company. The Firm owns or provides certain programming, operating or sales services to television stations in the United States. The Company’s divisions include Broadcast, Other and Corporate. The Broadcast segment consists of all of its television stations. The Other segment primarily consists of original networks and content, digital and Internet solutions, technical services and other non-media investments. The Firm owns and provides programming and operating services pursuant to local marketing agreements (LMAs), or provides sales services and other non-programming operating services pursuant to joint sales agreements (JSA) and shared services agreements (SSA) to approximately 160 stations in over 80 markets. These stations broadcast over 440 channels, including 215 channels affiliated with primary networks or program service providers comprising FOX (47), ABC (32), CBS (29), NBC (23), CW (44), MyNetworkTV (MNT) (34) and Univision (6). Over 230 channels broadcast programming from Antenna TV, American Sports Network (ASN), Azteca, Bounce Network, COMET, Decades, Estrella TV, Get TV, Grit, Heartland, Me TV, MundoFox, Retro TV, Telemundo, This TV, News & Weather, Zuus Country, and one channel broadcasts independent programming.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

By

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our FREE daily email newsletter:


Recent Market News

>