Sinclair Broadcast has 'no interest' in hiring Bill O'Reilly

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(NASDAQ:SBGI) are on a recovery track as they have regained 28.6% since bottoming out at $24.65 on November 02, 2016.

In related news, Director Howard E. Friedman sold 1,010 shares of Sinclair Broadcast Group stock in a transaction on Monday, October 2nd. The Clearbridge Investments Llc holds 1.20 million shares with $39.33 million value, up from 1.17 million last quarter. Finally, Laurion Capital Management LP purchased a new stake in shares of Sinclair Broadcast Group in the second quarter valued at $278,000. The firm earned "Buy" rating on Wednesday, July 5 by RBC Capital Markets.

Sinclair Broadcast Group Class A (NASDAQ:SBGI) had a decrease of 2.21% in short interest. They issued a "buy" rating and a $43.00 price objective for the company. It increased, as 38 investors sold Sinclair Broadcast Group Inc shares while 50 reduced holdings. They set a "buy" rating and a $46.00 price target on the stock. (NASDAQ:SBGI), 4 rate it "Buy", 3 "Outperform", 0 "Underperform", 0 "Sell", while 0 "Hold". (NASDAQ:SBGI) had a closing price of $31.05 yesterday. HG Vora Capital Management LLC is the second biggest holder with 5 million shares now valued at 156.28 million whilst Fidelity Management and Research Company has 5 million shares valued at 150.24 million. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Sinclair Broadcast Group's payout ratio is now 24.83%. "(NASDAQ:SBGI)" was first reported by TrueBlueTribune and is owned by of TrueBlueTribune. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of U.S. & global copyright and trademark legislation. The legal version of this report can be viewed at https://www.truebluetribune.com/2017/11/02/pnc-financial-services-group-inc-boosts-position-in-sinclair-broadcast-group-inc-sbgi.html. In the most recent financial results released by Sinclair Broadcast Group, Inc., for the quarter ending on 2017-06-30, the company posted EPS of 0.43.

In a conference call with Wall Street analysts, Ripley said O'Reilly had approached Sinclair about possible work, but Ripley shut down the idea of bringing him on, according to Deadline. The 20-day Stochastic %k measure, which sits at 61.57%, tells a similar story, and suggests that SBGI now trades in neutral territory. The company had revenue of $666.50 million for the quarter, compared to the consensus estimate of $658.61 million. "Despite challenges in the quarter, including Hurricanes Harvey and Irma, the loss of certain technical school advertisers versus previous year and mainly transaction-related one-time charges, Sinclair stations continued to deliver". The company's 3-months average volume stands at 1.79 million.

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The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, December 1st will be issued a $0.18 dividend. Stephens upgraded the stock to "Overweight" rating in Thursday, November 3 report.

Since May 25, 2017, it had 0 insider purchases, and 2 selling transactions for $275,289 activity. Sinclair Broadcast Group's dividend payout ratio is now 24.83%. The Company focuses on providing content on its local television stations and digital platforms. The Company's divisions are broadcast, other and corporate.

"This month, the Federal Communications Commission will be addressing certain deregulatory rulemakings for the television broadcast industry, recognizing that the competitive marketplace has changed and broadcasters actually do compete against everyone for viewers and advertising dollars".

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