Stock News

Is Major Move Coming For Sinclair Broadcast Group, Inc. (SBGI) After This Descending Triangle Pattern?

Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) Logo

Investors sentiment increased to 1.1 in 2018 Q2. Its up 0.43, from 0.67 in 2018Q1. It improved, as 27 investors sold Sinclair Broadcast Group, Inc. shares while 56 reduced holdings. 35 funds opened positions while 56 raised stakes. 75.22 million shares or 8.42% less from 82.13 million shares in 2018Q1 were reported.
Jefferies Group Ltd Co stated it has 3,528 shares. Brigade Cap Ltd Partnership stated it has 866,250 shares or 1.85% of all its holdings. Strs Ohio holds 0.05% of its portfolio in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) for 376,000 shares. Penbrook Management Limited Liability owns 16,300 shares or 0.5% of their US portfolio. Schroder Mngmt, Maine-based fund reported 238,400 shares. Lpl Financial Limited Co invested 0.01% of its portfolio in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). Highland Capital Mgmt Limited Partnership owns 44,775 shares. Weber Alan W holds 0% or 110,000 shares. Hsbc Holdings Plc holds 8,082 shares or 0% of its portfolio. Morgan Stanley holds 0% of its portfolio in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) for 205,385 shares. Mason Cap Mgmt Lc has invested 1.93% of its portfolio in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). Dimensional Fund L P, Texas-based fund reported 2.81 million shares. State Board Of Administration Of Florida Retirement holds 0% or 37,516 shares in its portfolio. Axa stated it has 0.02% in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). Goldman Sachs Gru Inc has invested 0.01% in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI).

Since June 14, 2018, it had 0 buys, and 1 sale for $64,518 activity.

The stock of Sinclair Broadcast Group, Inc. (SBGI) formed a descending triangle with $33.91 target or 8.00 % above today’s $31.40 share price. The 8 months triangle pattern indicates low risk for the $3.11B company. If the $33.91 price target is reached, the company will be worth $248.96M more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock decreased 1.16% or $0.37 during the last trading session, reaching $31.4. About 1.30M shares traded or 4.78% up from the average. Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) has declined 2.61% since November 10, 2017 and is downtrending. It has underperformed by 18.23% the S&P500.

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

Among 3 analysts covering Sinclair Broadcast Group (NASDAQ:SBGI), 1 have Buy rating, 0 Sell and 2 Hold. Therefore 33% are positive. Sinclair Broadcast Group had 5 analyst reports since July 17, 2018 according to SRatingsIntel. The company was maintained on Tuesday, July 17 by FBR Capital. FBR Capital maintained Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) rating on Thursday, November 8. FBR Capital has “Neutral” rating and $35 target. The firm earned “Outperform” rating on Friday, August 10 by RBC Capital Markets. The company was downgraded on Thursday, September 6 by FBR Capital.

More notable recent Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) news were published by: Bizjournals.com which released: “Tribune Publishing get bids from Donerail, McClatchy, AIM Media” on November 02, 2018, also Nasdaq.com with their article: “Why Disney Stock Will Likely Fall Hard After Reporting Earnings” published on November 07, 2018, Nasdaq.com published: “Recent Analysis Shows Prospect Capital, Aegon NV, Chico’s FAS, AmTrust Financial Services, CBS, and Sinclair …” on October 26, 2018. More interesting news about Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) were released by: Streetinsider.com and their article: “Sinclair Broadcasting (SBGI) PT Raised to $38 at RBC Capital” published on November 08, 2018 as well as Seekingalpha.com‘s news article titled: “Sinclair Broadcast declares $0.20 dividend” with publication date: November 07, 2018.

Sinclair Broadcast Group, Inc. operates as a television broadcasting firm in the United States. The company has market cap of $3.11 billion. It owns or provides various programming, operating, or sales services to television stations. It has a 5.92 P/E ratio. The firm broadcasts free over-the-air programming, such as network provided programs, locally-produced news, local sporting events, programming from program service arrangements, syndicated entertainment programs, and internally originated programming to television viewing audiences in the communities through various local television stations.

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

- Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Reply

Your email address will not be published. Required fields are marked *

*