Sinclair Broadcast Group Inc Stock Price Could Go Down After Today’s Bearish Options Activity

 Sinclair Broadcast Group Inc Stock Price Could Go Down After Today's Bearish Options Activity

In today’s session Sinclair Broadcast Group Inc (SBGI) recorded an unusually high (596) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious SBGI decrease. With 596 contracts traded and 20264 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: SBGI161118P00025000 closed last at: $0.7 or 0% . About 562,479 shares traded hands. Sinclair Broadcast Group Inc (NASDAQ:SBGI) has declined 16.88% since April 5, 2016 and is downtrending. It has underperformed by 18.84% the S&P500.

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 46.27% above today’s ($25.98) stock price. Sinclair Broadcast Group Inc has been the topic of 9 analyst reports since July 30, 2015 according to StockzIntelligence Inc. Wedbush maintained Sinclair Broadcast Group Inc (NASDAQ:SBGI) rating on Friday, January 29. Wedbush has “Outperform” rating and $39 price target. Stephens initiated it with “Equal-Weight” rating and $37 target price in Wednesday, November 18 report. RBC Capital Markets maintained Sinclair Broadcast Group Inc (NASDAQ:SBGI) rating on Tuesday, November 10. RBC Capital Markets has “Outperform” rating and $39 price target. The stock has “Outperform” rating given by Wedbush on Tuesday, September 27. The firm has “Buy” rating given on Thursday, November 5 by Benchmark. The company was upgraded on Thursday, November 3 by Stephens.

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.”

Insitutional Activity: The institutional sentiment decreased to 0.95 in 2016 Q2. Its down 0.47, from 1.42 in 2016Q1. The ratio is negative, 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.
Kingdon Cap Mgmt holds 653,310 shares or 1.07% of its portfolio. Dupont Cap accumulated 0.04% or 62,640 shares. Orrstown Service Incorporated, a Pennsylvania-based fund reported 500 shares. Gsa Capital Prns Llp, a United Kingdom-based fund reported 20,534 shares. Envestnet Asset Mgmt holds 13,434 shares or 0% of its portfolio. Parametric Port Associate Limited Com holds 76,085 shares or 0% of its portfolio. Gabelli Funds Lc holds 0.03% or 197,000 shares in its portfolio. Us Fincl Bank De has invested 0% of its portfolio in Sinclair Broadcast Group Inc (NASDAQ:SBGI). Grt Ltd Limited Liability Company reported 24,272 shares or 0.18% of all its holdings. The Maryland-based Proshare Advsr Ltd Liability Corporation has invested 0% in Sinclair Broadcast Group Inc (NASDAQ:SBGI). First Personal Financial Serv holds 0% or 404 shares in its portfolio. Pitcairn Com has invested 0.05% of its portfolio in Sinclair Broadcast Group Inc (NASDAQ:SBGI). Investec Asset Management North America last reported 0.1% of its portfolio in the stock. Roystone Capital Lp holds 2.41% of its portfolio in Sinclair Broadcast Group Inc (NASDAQ:SBGI) for 1.28M shares. Qs Invsts Lc accumulated 0.04% or 166,077 shares.

Insider Transactions: Since October 5, 2016, the stock had 0 buys, and 1 sale for $57,260 net activity. 2,000 shares with value of $57,260 were sold by MCCANNA LAWRENCE E on Wednesday, October 5.

Sinclair Broadcast Group, Inc. is a television broadcasting company. The company has a market cap of $2.44 billion. The Firm owns or provides certain programming, operating or sales services to television stations in the United States. It has a 14.19 P/E ratio. The Company’s divisions include Broadcast, Other and Corporate.

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.

More notable 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 Blogs.Wsj.com with their article: “CFO Moves: Gap, Whole Foods, Sinclair Broadcast Group” published on November 03, 2016, 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) were released by: Nasdaq.com and their article: “Relative Strength Alert For Sinclair Broadcast Group” published on October 27, 2016 as well as Baltimoresun.com‘s news article titled: “Sinclair Broadcast Group makes Fortune 1000 list for first time” with publication date: June 22, 2016.

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