As Sinclair Broadcast Group INC (SBGI) Market Valuation Declined, Raging Capital Management LLC Upped Stake

June 17, 2018 - By Ellis Scott

Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) LogoInvestors sentiment decreased to 0.67 in 2018 Q1. Its down 0.30, from 0.97 in 2017Q4. It turned negative, as 36 investors sold SBGI shares while 78 reduced holdings. 32 funds opened positions while 44 raised stakes. 82.13 million shares or 3.12% less from 84.77 million shares in 2017Q4 were reported. Fifth Third Bank reported 0% stake. Apollo Management Holdings LP holds 0.01% of its portfolio in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) for 46,440 shares. 251,820 are owned by Gamco Et Al. Vident Inv Advisory Limited owns 0.02% invested in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) for 15,248 shares. Qs Investors Limited Liability owns 128,329 shares for 0.04% of their portfolio. 187,121 were accumulated by California Pub Employees Retirement Systems. Paloma Management, a Connecticut-based fund reported 19,932 shares. Stoneridge Investment Prtnrs Limited Liability reported 20,923 shares. Penn Communication invested 1.34% in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). Sg Americas stated it has 0% of its portfolio in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). Guggenheim Capital Llc invested in 60,653 shares or 0% of the stock. Bridgeway Cap Mgmt Incorporated accumulated 0.01% or 15,100 shares. Raging Capital Mngmt Limited holds 2.00M shares. Point72 Asset Management Limited Partnership reported 10,200 shares. 1832 Asset Limited Partnership stated it has 150 shares or 0% of all its holdings.

William C. Martin increased its stake in Sinclair Broadcast Group Inc (SBGI) by 200.4% based on its latest 2018Q1 regulatory filing with the SEC. Raging Capital Management Llc bought 1.34M shares as the company’s stock declined 21.28% with the market. The hedge fund run by William C. Martin held 2.00 million shares of the consumer services company at the end of 2018Q1, valued at $62.65 million, up from 666,300 at the end of the previous reported quarter. Raging Capital Management Llc who had been investing in Sinclair Broadcast Group Inc for a number of months, seems to be bullish on the $3.33 billion market cap company. The stock decreased 1.21% or $0.4 during the last trading session, reaching $32.6. About 1.81M shares traded or 27.58% up from the average. Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) has declined 13.49% since June 17, 2017 and is downtrending. It has underperformed by 26.06% the S&P500.

Raging Capital Management Llc, which manages about $631.31 million and $749.80 million US Long portfolio, decreased its stake in Range Res Corp (Call) (NYSE:RRC) by 450,000 shares to 850,000 shares, valued at $12.36 million in 2018Q1, according to the filing. It also reduced its holding in Gulfport Energy Corp (Call) (NASDAQ:GPOR) by 351,300 shares in the quarter, leaving it with 500,000 shares, and cut its stake in Scorpio Bulkers Inc.

More important recent Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) news were published by: Seekingalpha.com which released: “Sinclair Broadcast names two technical executives” on June 11, 2018, also Seekingalpha.com published article titled: “Aftermarket trade ripples run wide from AT&T/Time Warner decision”, Streetinsider.com published: “Bearish Options Activity in Sinclair Broadcast Group (SBGI), Targets 7% Downside in Shares Ahead of Important June …” on June 14, 2018. More interesting news about Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) was released by: Globenewswire.com and their article: “Detailed Research: Economic Perspectives on Quorum Health, IMAX, Turquoise Hill Resources, Crawford, Stepan, and …” with publication date: June 13, 2018.

Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) Ratings Coverage

Among 3 analysts covering Sinclair Broadcast (NASDAQ:SBGI), 3 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Sinclair Broadcast had 3 analyst reports since January 16, 2018 according to SRatingsIntel. B. Riley & Co maintained Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) on Thursday, March 1 with “Buy” rating. The stock of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) has “Buy” rating given on Wednesday, February 28 by FBR Capital. Stephens maintained it with “Buy” rating and $47.0 target in Tuesday, January 16 report.

Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) Institutional Positions Chart

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