Nuveen Real Estate Income Fund (JRS) Is At $9.82 Formed Wedge; Raging Capital Management Has Decreased Its Sinclair Broadcast Group (Call) (SBGI) Holding

June 23, 2018 - By Shannon Black

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

Raging Capital Management Llc decreased Sinclair Broadcast Group Inc (Call) (SBGI) stake by 87.51% reported in 2018Q1 SEC filing. Raging Capital Management Llc sold 583,100 shares as Sinclair Broadcast Group Inc (Call) (SBGI)’s stock declined 21.28%. The Raging Capital Management Llc holds 83,200 shares with $2.60M value, down from 666,300 last quarter. Sinclair Broadcast Group Inc (Call) now has $3.35 billion valuation. The stock increased 1.39% or $0.45 during the last trading session, reaching $32.75. About 893,686 shares traded. Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) has declined 13.49% since June 23, 2017 and is downtrending. It has underperformed by 26.06% the S&P500. Some Historical SBGI News: 02/05/2018 – Sinclair: All of Sinclair’s ABC, CBS, Fox, NBC Affiliated Stations Removed From Sony’s PlayStation Vue Platform; 15/05/2018 – RAGING CAPITAL BOOSTED XLNX, SBGI, FCAU, PKE, RDCM IN 1Q: 13F; 09/05/2018 – SINCLAIR BROADCAST GROUP INC SEES 2018 CAPITAL EXPENDITURES ARE EXPECTED TO BE APPROXIMATELY $180 MLN; 19/04/2018 – Sinclair Broadcast Presenting at JPMorgan Conference May 15; 03/04/2018 – Trump Claims CNN, Network TV News Are `Worried’ About Sinclair; 04/04/2018 – Sinclair Executives To Be Honored At The NAB Show; Leadership To Participate In Panel Discussions; 24/04/2018 – ChicagoBreaking: Sinclair to sell additional TV stations in bid to win approval for Tribune Media acquisition; 09/05/2018 – Sinclair Broadcast Reaches Agreement for Multi-Yr Renewals of 34 Fox Affiliations; 02/05/2018 – Sinclair Broadcast Group Removed From Sony Vue Platforms; 02/05/2018 – Event Driven: $TRCO / $SBGI: Event Driven has learned that the DOJ consent decree process will begin in the coming weeks:

Nuveen Real Estate Income Fund (JRS) formed wedge up with $10.70 target or 9.00% above today’s $9.82 share price. Nuveen Real Estate Income Fund (JRS) has $283.72M valuation. The stock increased 0.44% or $0.04 during the last trading session, reaching $9.82. About 50,964 shares traded. Nuveen Real Estate Income Fund (NYSE:JRS) has declined 13.76% since June 23, 2017 and is downtrending. It has underperformed by 26.33% the S&P500.

More recent Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) news were published by: Seekingalpha.com which released: “Delrahim: Still discussing Sinclair-Tribune divestitures” on June 22, 2018. Also Streetinsider.com published the news titled: “Sinclair Broadcast Group (SBGI) Hasn’t Reached Deal with DOJ on Divestitures, Still Discussing Divestiture Package …” on June 22, 2018. Prnewswire.com‘s news article titled: “Sinclair Broadcast Group Introduces A New Makeover Series Featuring Tori Spelling” with publication date: June 22, 2018 was also an interesting one.

Among 8 analysts covering Sinclair Broadcast Group Inc (NASDAQ:SBGI), 8 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Sinclair Broadcast Group Inc has $5500 highest and $34 lowest target. $47’s average target is 43.51% above currents $32.75 stock price. Sinclair Broadcast Group Inc had 24 analyst reports since July 30, 2015 according to SRatingsIntel. The rating was maintained by RBC Capital Markets with “Outperform” on Tuesday, November 10. Stephens initiated it with “Equal-Weight” rating and $37 target in Wednesday, November 18 report. The firm earned “Outperform” rating on Friday, January 29 by Wedbush. The stock of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) earned “Buy” rating by Stephens on Friday, June 2. The firm has “Outperform” rating by RBC Capital Markets given on Thursday, February 23. Wedbush maintained Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) rating on Tuesday, September 27. Wedbush has “Outperform” rating and $36 target. The stock of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) has “Buy” rating given on Thursday, November 5 by Benchmark. The stock of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) has “Buy” rating given on Thursday, August 3 by RBC Capital Markets. The firm has “Buy” rating given on Tuesday, January 16 by Stephens. The rating was maintained by RBC Capital Markets on Tuesday, September 26 with “Buy”.

Investors sentiment decreased to 0.67 in 2018 Q1. Its down 0.30, from 0.97 in 2017Q4. It fall, 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. Vident Inv Advisory Ltd invested in 15,248 shares. Axa reported 76,100 shares. California Employees Retirement Systems holds 0.01% of its portfolio in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) for 187,121 shares. 249,379 were reported by Creative Planning. Fifth Third Bank invested in 6,225 shares. California State Teachers Retirement Sys reported 0.01% stake. Corsair Cap Mgmt Lp invested in 691,806 shares. Vanguard Gp Inc reported 0.01% stake. Metropolitan Life Ny, a New York-based fund reported 22,857 shares. State Of New Jersey Common Pension Fund D holds 0.01% or 115,000 shares in its portfolio. Stratos Wealth Limited has invested 0.01% in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). 76,894 are owned by Delphi Mngmt Inc Ma. Rr Prns Lp, New York-based fund reported 290,900 shares. Zurcher Kantonalbank (Zurich Cantonalbank) reported 0% of its portfolio in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). Ellington Mngmt Grp Ltd Liability Corp holds 0.06% or 26,200 shares in its portfolio.

Since June 14, 2018, it had 0 insider buys, and 1 insider sale for $64,518 activity. $64,518 worth of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) was sold by MCCANNA LAWRENCE E.

Analysts await Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) to report earnings on August, 1. They expect $0.66 earnings per share, up 53.49% or $0.23 from last year’s $0.43 per share. SBGI’s profit will be $67.47 million for 12.41 P/E if the $0.66 EPS becomes a reality. After $0.46 actual earnings per share reported by Sinclair Broadcast Group, Inc. for the previous quarter, Wall Street now forecasts 43.48% EPS growth.

Investors sentiment increased to 0.79 in 2018 Q1. Its up 0.05, from 0.74 in 2017Q4. It improved, as 5 investors sold Nuveen Real Estate Income Fund shares while 14 reduced holdings. 8 funds opened positions while 7 raised stakes. 2.70 million shares or 4.31% less from 2.82 million shares in 2017Q4 were reported. Private Advisor Gp Ltd Limited Liability Company holds 78,804 shares or 0.03% of its portfolio. Whitnell And Company invested 0.69% of its portfolio in Nuveen Real Estate Income Fund (NYSE:JRS). Advisors Asset Mngmt Incorporated reported 0.03% of its portfolio in Nuveen Real Estate Income Fund (NYSE:JRS). Kistler has invested 0.01% in Nuveen Real Estate Income Fund (NYSE:JRS). Cambridge Investment Research Advsr invested 0% in Nuveen Real Estate Income Fund (NYSE:JRS). 666 were reported by Stratos Wealth Partners Ltd. Jmg Fincl Group invested in 14,028 shares or 0.02% of the stock. Morgan Stanley invested 0% in Nuveen Real Estate Income Fund (NYSE:JRS). Dynamic Advisor Solutions Llc has invested 0.06% of its portfolio in Nuveen Real Estate Income Fund (NYSE:JRS). Peoples Fin Ser accumulated 1,700 shares or 0.01% of the stock. Salem Inv Counselors invested in 625 shares. Raymond James has 18,343 shares for 0% of their portfolio. Us Commercial Bank De has invested 0% in Nuveen Real Estate Income Fund (NYSE:JRS). Citigroup invested in 5,575 shares or 0% of the stock. National Bank Of Mellon invested 0% in Nuveen Real Estate Income Fund (NYSE:JRS).

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