Raging Capital Management LLC Upped Its Sinclair Broadcast Group INC (SBGI) Stake by $41.39 Million as Valuation Declined

June 17, 2018 - By Hazel Jackson

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 worsened, 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. North Carolina-based First Personal Serv has invested 0% in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). Zacks Investment owns 0.01% invested in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) for 7,673 shares. Nordea Invest Ab stated it has 903,919 shares or 0.07% of all its holdings. Schroder Investment Mgmt Group invested 0.02% of its portfolio in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). Ameritas Inv has 0.01% invested in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) for 6,162 shares. Proshare Ltd Llc holds 0% or 9,564 shares. Raging Capital Mngmt Limited Liability Company holds 2.00M shares. Three Bays Cap Limited Partnership invested in 3.49M shares or 7.58% of the stock. State Street invested in 0% or 1.43 million shares. Qvt Fin Ltd Partnership holds 0.5% or 152,123 shares. Blackrock accumulated 4.60M shares. State Of New Jersey Common Pension Fund D stated it has 0.01% in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). Adams Diversified Equity Fund has invested 0.03% of its portfolio in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). Bb&T reported 0% of its portfolio in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). Natixis, a France-based fund reported 98,666 shares.

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 Gulfport Energy Corp (Call) (NASDAQ:GPOR) by 351,300 shares to 500,000 shares, valued at $4.83M in 2018Q1, according to the filing. It also reduced its holding in Scorpio Bulkers Inc by 599,699 shares in the quarter, leaving it with 2.94M shares, and cut its stake in Sinclair Broadcast Group Inc (Call) (NASDAQ:SBGI).

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”, Globenewswire.com published: “Detailed Research: Economic Perspectives on Quorum Health, IMAX, Turquoise Hill Resources, Crawford, Stepan, and …” on June 13, 2018. More interesting news about Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) was released by: Streetinsider.com and their article: “Bearish Options Activity in Sinclair Broadcast Group (SBGI), Targets 7% Downside in Shares Ahead of Important June …” with publication date: June 14, 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. The stock has “Buy” rating by FBR Capital on Wednesday, February 28. B. Riley & Co maintained Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) on Thursday, March 1 with “Buy” rating. The firm has “Buy” rating by Stephens given on Tuesday, January 16.

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

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