Cheyne Capital Management UK LLP lowered its position in shares of Sinclair Broadcast Group Inc (NASDAQ:SBGI) by 24.5% during the fourth quarter, Holdings Channel reports. The fund owned 40,000 shares of the company’s stock after selling 13,008 shares during the quarter. Cheyne Capital Management UK LLP’s holdings in Sinclair Broadcast Group were worth $1,513,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SBGI. PNC Financial Services Group Inc. grew its position in Sinclair Broadcast Group by 141.1% during 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 during the last quarter. Northern Trust Corp grew its position in Sinclair Broadcast Group by 11.6% during the 2nd quarter. Northern Trust Corp now owns 1,048,402 shares of the company’s stock worth $34,492,000 after acquiring an additional 108,809 shares during the last quarter. Vanguard Group Inc. grew its position in Sinclair Broadcast Group by 8.5% during the 2nd quarter. Vanguard Group Inc. now owns 6,620,686 shares of the company’s stock worth $217,820,000 after acquiring an additional 520,001 shares during the last quarter. Voya Investment Management LLC grew its position in Sinclair Broadcast Group by 29.7% during the 2nd quarter. Voya Investment Management LLC now owns 33,743 shares of the company’s stock worth $1,110,000 after acquiring an additional 7,718 shares during the last quarter. Finally, Numeric Investors LLC bought a new stake in Sinclair Broadcast Group during the 2nd quarter worth $316,000. Institutional investors and hedge funds own 84.93% of the company’s stock.

A number of equities research analysts recently weighed in on the company. BidaskClub lowered Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Zacks Investment Research downgraded Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. Ameriprise Financial reaffirmed a “buy” rating and set a $45.00 target price (up from $43.00) on shares of Sinclair Broadcast Group in a report on Friday, November 3rd. ValuEngine raised Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, FBR & Co initiated coverage on Sinclair Broadcast Group in a report on Tuesday, October 31st. They set a “buy” rating and a $43.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $46.00.

Sinclair Broadcast Group Inc (SBGI) opened at $35.55 on Tuesday. The company has a market capitalization of $3,555.85, a PE ratio of 13.36, a price-to-earnings-growth ratio of 1.91 and a beta of 1.80. Sinclair Broadcast Group Inc has a twelve month low of $26.70 and a twelve month high of $43.05. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 3.51.

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About Sinclair Broadcast Group

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

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