Mason Capital Management Upped Its Position in Sinclair Broadcast Group (SBGI) by $9.32 Million as Share Price Declined; Penn Natl Gaming (PENN) Shareholder Bank Of America Has Increased Its Position

June 15, 2018 - By Winifred Garcia

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

Kenneth Mario Garschina increased its stake in Sinclair Broadcast Group Inc (SBGI) by 17.47% based on its latest 2018Q1 regulatory filing with the SEC. Mason Capital Management Llc bought 300,729 shares as the company’s stock declined 21.28% with the market. The hedge fund run by Kenneth Mario Garschina held 2.02M shares of the consumer services company at the end of 2018Q1, valued at $63.30M, up from 1.72M at the end of the previous reported quarter. Mason Capital Management Llc who had been investing in Sinclair Broadcast Group Inc for a number of months, seems to be bullish on the $3.37B market cap company. The stock decreased 0.23% or $0.075 during the last trading session, reaching $32.925. About 848,555 shares traded. Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) has declined 13.49% since June 15, 2017 and is downtrending. It has underperformed by 26.06% the S&P500. Some Historical SBGI News: 09/05/2018 – Tribune/Sinclair divest package gets DoJ nod, sources say [19:31 BST09 May 2018] [Proprietary] []; 09/05/2018 – 21st Century Fox in New Network Affiliation Agreements With Sinclair; 02/04/2018 – New York Post: Trump praises Sinclair for scripted `False News’ promos; 09/05/2018 – Sinclair Says Station Divestitures to Raise $1.5 Billion; 19/04/2018 – Sinclair Broadcast Presenting at JPMorgan Conference May 15; 21/05/2018 – Sinclair Broadcast Group Earns 222 Emmy® Nominations in Local Markets across the U.S; 24/04/2018 – Sinclair Agrees to Sell 23 TV Stations as Part of Tribune Deal; 09/05/2018 – Ben Becker: BREAKING: Fox buying seven TV stations from Sinclair for $910 million; 16/04/2018 – Sen. Dick Durbin: Durbin Questions FCC On Sinclair Dictating Content To Local News Stations While It Weighs Proposed Mega-Merge; 13/05/2018 – Sinclair Broadcasting’s Hostile Takeover

Bank Of America Corp increased its stake in Penn Natl Gaming Inc (PENN) by 24.95% based on its latest 2018Q1 regulatory filing with the SEC. Bank Of America Corp bought 143,806 shares as the company’s stock rose 26.71% while stock markets declined. The institutional investor held 720,088 shares of the consumer services company at the end of 2018Q1, valued at $18.91M, up from 576,282 at the end of the previous reported quarter. Bank Of America Corp who had been investing in Penn Natl Gaming Inc for a number of months, seems to be bullish on the $3.02B market cap company. The stock increased 2.24% or $0.72 during the last trading session, reaching $33.04. About 894,078 shares traded. Penn National Gaming, Inc. (NASDAQ:PENN) has risen 73.85% since June 15, 2017 and is uptrending. It has outperformed by 61.28% the S&P500. Some Historical PENN News: 26/04/2018 – Penn National Gaming 1Q Net $45.4M; 27/04/2018 – PENN NATIONAL GAMING GETS MISSISSIPPI GAMING COMMISSION & PENNSYLVANIA STATE HORSE RACING COMMISSION APPROVAL FOR PINNACLE ENTERTAINMENT DEAL; 25/04/2018 – Gaming and Leisure Properties, Inc. Announces Chief Financial Officer Retirement; 29/03/2018 – Chris Sieroty: BREAKING: Penn National Gaming shareholders approve $2.4bn merger with Pinnacle Entertainment; 29/03/2018 – Penn National Gaming and Pinnacle Continue to Expect Closing in Second Half of 201; 13/03/2018 – PINNACLE ENTERTAINMENT INC – THE PARTIES CONTINUE TO EXPECT ANTICIPATED TIMETABLE FOR COMPLETING MERGER TO OCCUR IN H2 OF 2018; 29/05/2018 – PENN NATIONAL TO EXIT JAMUL CASINO LOAN C FACILITY, PROJECT; 21/03/2018 – PENN NATIONAL GETS APPROVAL FROM PA. GAMING CONTROL BOARD; 20/04/2018 – DJ Penn National Gaming Inc, Inst Holders, 1Q 2018 (PENN); 21/03/2018 – PENN NATIONAL GETS APPROVAL FROM W.VA. LOTTERY COMMISSION

Bank Of America Corp, which manages about $585.34 billion US Long portfolio, decreased its stake in Dowdupont Inc (Call) by 1.15 million shares to 193,900 shares, valued at $12.35M in 2018Q1, according to the filing. It also reduced its holding in Ssga Active Etf Tr (SRLN) by 40,053 shares in the quarter, leaving it with 2.00M shares, and cut its stake in Alphabet Inc (Call).

Investors sentiment increased to 1.34 in 2018 Q1. Its up 0.30, from 1.04 in 2017Q4. It is positive, as 23 investors sold PENN shares while 68 reduced holdings. 52 funds opened positions while 70 raised stakes. 84.43 million shares or 0.51% less from 84.87 million shares in 2017Q4 were reported. Stone Ridge Asset Mngmt Ltd Llc reported 0.04% of its portfolio in Penn National Gaming, Inc. (NASDAQ:PENN). Employees Retirement Systems Of Texas, a Texas-based fund reported 69,000 shares. Public Sector Pension Inv Board reported 54,522 shares. Susquehanna Int Group Inc Llp accumulated 33,203 shares. Walleye Trading Limited Liability Corporation accumulated 106,860 shares. Stoneridge Prtn Lc has invested 0.13% of its portfolio in Penn National Gaming, Inc. (NASDAQ:PENN). Advisory Ntwk Lc has 222 shares. Sei Invests invested in 1,274 shares. Dimensional Fund Advsrs Limited Partnership invested in 0.01% or 819,802 shares. Paloma Prns Mngmt Company has 0.01% invested in Penn National Gaming, Inc. (NASDAQ:PENN). 800 are owned by Riggs Asset Managment Communications. Shellback Capital Ltd Partnership holds 796,437 shares or 1.52% of its portfolio. Scopus Asset Ltd Partnership invested 0.27% of its portfolio in Penn National Gaming, Inc. (NASDAQ:PENN). The Delaware-based Dupont Capital has invested 0.01% in Penn National Gaming, Inc. (NASDAQ:PENN). The Kentucky-based Teachers Retirement Systems Of The State Of Kentucky has invested 0.01% in Penn National Gaming, Inc. (NASDAQ:PENN).

Among 12 analysts covering Penn National Gaming (NASDAQ:PENN), 7 have Buy rating, 0 Sell and 5 Hold. Therefore 58% are positive. Penn National Gaming had 37 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was maintained by Stifel Nicolaus on Thursday, October 26 with “Buy”. The stock of Penn National Gaming, Inc. (NASDAQ:PENN) has “Equal-Weight” rating given on Friday, February 9 by Morgan Stanley. Morgan Stanley maintained the stock with “Equal-Weight” rating in Tuesday, October 24 report. The rating was maintained by Telsey Advisory Group on Friday, February 5 with “Outperform”. The rating was upgraded by SunTrust on Thursday, April 26 to “Buy”. The firm has “Buy” rating given on Thursday, July 27 by Deutsche Bank. The stock of Penn National Gaming, Inc. (NASDAQ:PENN) has “Outperform” rating given on Tuesday, January 19 by Telsey Advisory Group. On Thursday, October 5 the stock rating was maintained by Stifel Nicolaus with “Buy”. The firm has “Hold” rating by SunTrust given on Monday, February 5. The firm has “Buy” rating given on Thursday, July 13 by Stifel Nicolaus.

More news for Penn National Gaming, Inc. (NASDAQ:PENN) were recently published by: Seekingalpha.com, which released: “Spotlight On Gambling Reset And Banking Bill” on May 19, 2018. 247Wallst.com‘s article titled: “Top Analyst Upgrades and Downgrades: ConocoPhillips, Domino’s Pizza, Eli Lilly, Occidental Petroleum, PayPal, Penn …” and published on June 08, 2018 is yet another important article.

Since February 9, 2018, it had 3 insider purchases, and 4 sales for $8.71 million activity. $274,349 worth of Penn National Gaming, Inc. (NASDAQ:PENN) was bought by Snowden Jay A on Friday, March 2. Another trade for 84,123 shares valued at $2.85 million was sold by CARLINO PETER M. WILMOTT TIMOTHY J sold $3.12 million worth of stock or 102,528 shares. SCACCETTI JANE had bought 2,500 shares worth $68,775.

More important recent Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) news were published by: Globenewswire.com which released: “Detailed Research: Economic Perspectives on Quorum Health, IMAX, Turquoise Hill Resources, Crawford, Stepan, and …” on June 13, 2018, also Seekingalpha.com published article titled: “Sinclair Broadcast names two technical executives”, Seekingalpha.com published: “Aftermarket trade ripples run wide from AT&T/Time Warner decision” on June 12, 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.

Investors sentiment decreased to 0.67 in 2018 Q1. Its down 0.30, from 0.97 in 2017Q4. It dived, 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. Royal Bancorporation Of Canada invested in 1.06 million shares or 0.01% of the stock. Natixis invested 0.02% of its portfolio in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). Schroder Investment Mngmt Grp stated it has 0.02% of its portfolio in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). California-based Beach Point Capital Mgmt LP has invested 6.59% in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). Qvt Financial LP holds 0.5% of its portfolio in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) for 152,123 shares. Moreover, Pnc Services Grp Incorporated has 0% invested in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) for 2,172 shares. Raging Mgmt Ltd Liability Company accumulated 2.00 million shares. Oxbow Advsr Ltd Liability Co accumulated 97,470 shares or 0.62% of the stock. Ivory Invest Limited Liability Company invested 2.1% of its portfolio in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). Paradigm Asset Com Limited Liability Corp has 0% invested in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). Prudential invested in 571,525 shares. Ameriprise has 20,987 shares. Lpl Finance Ltd Liability Corporation reported 73,253 shares stake. Jpmorgan Chase & stated it has 0% in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). Impax Asset Ltd Company reported 509,022 shares.

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 had 24 analyst reports since July 30, 2015 according to SRatingsIntel. The rating was maintained by RBC Capital Markets with “Outperform” on Thursday, February 23. The rating was maintained by B. Riley & Co on Thursday, March 1 with “Buy”. The firm has “Overweight” rating by Stephens given on Thursday, November 3. The rating was maintained by Benchmark on Tuesday, August 1 with “Buy”. On Tuesday, January 16 the stock rating was maintained by Stephens with “Buy”. The rating was maintained by RBC Capital Markets with “Buy” on Wednesday, July 5. The firm earned “Buy” rating on Wednesday, February 28 by FBR Capital. The stock of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) earned “Buy” rating by RBC Capital Markets on Thursday, August 3. The rating was maintained by RBC Capital Markets on Tuesday, November 10 with “Outperform”. Stephens maintained the stock with “Buy” rating in Friday, June 2 report.

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

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