Apollo Management Holdings LP Has Increased Its Sinclair Broadcast Group (Call) (SBGI) Stake by $15.50 Million; Brown (BF.B) Shareholder Gardner Russo & Gardner Upped Stake

June 20, 2018 - By Louis Casey

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

Apollo Management Holdings Lp increased its stake in Sinclair Broadcast Group Inc (Call) (SBGI) by 100% based on its latest 2018Q1 regulatory filing with the SEC. Apollo Management Holdings Lp bought 500,000 shares as the company’s stock declined 21.28% with the market. The institutional investor held 1.00 million shares of the consumer services company at the end of 2018Q1, valued at $31.30 million, up from 500,000 at the end of the previous reported quarter. Apollo Management Holdings Lp who had been investing in Sinclair Broadcast Group Inc (Call) for a number of months, seems to be bullish on the $3.42 billion market cap company. The stock increased 1.52% or $0.5 during the last trading session, reaching $33.4. About 723,127 shares traded. Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) has declined 13.49% since June 20, 2017 and is downtrending. It has underperformed by 26.06% the S&P500. Some Historical SBGI News: 13/05/2018 – Sinclair Broadcasting’s Hostile Takeover; 09/05/2018 – Sinclair Says Fox Unit Is One Of The Purchasers Of TV Stations Being Sold As Part Of Tribune Deal — MarketWatch; 03/04/2018 – Sinclair Employees Say Their Contracts Make it Too Expensive to Quit; 11/04/2018 – Ted Hearn: From Sinclair’s Retransmission Consent Blackout Alert Desk: Redstone likely to replace Moonves as head of $CBS if n; 05/03/2018 – Sinclair Promotes Tom Long to General Manager in Boise, Idaho; 31/05/2018 – EXCLUSIVE-U.S. EPA AWARDS SINCLAIR OIL, HOLLYFRONTIER MILLIONS OF DOLLARS IN BIOFUELS CREDITS FOR WAIVER DENIALS -SOURCES, FILINGS; 02/04/2018 – Trump bashes CNN and NBC, but defends Sinclair Broadcast Group after “fake news” speeches by local anchors; 03/04/2018 – Dr. David Sinclair Joins Zymo Research Corp.’s Scientific Advisory Board; 26/03/2018 – SINCLAIR PROMOTES JENNIFER RIEFFER TO GENERAL MANAGER IN LEXINGTON, KENTUCKY; 25/04/2018 – Sinclair Broadcast Group Wins 45 Regional RTDNA Edward R. Murrow Awards

Tom Russo increased its stake in Brown (BF.B) by 90.24% based on its latest 2018Q1 regulatory filing with the SEC. Gardner Russo & Gardner Llc bought 1.34 million shares as the company’s stock 0.00% . The hedge fund run by Tom Russo held 2.82 million shares of the company at the end of 2018Q1, valued at $153.22 million, up from 1.48 million at the end of the previous reported quarter. Gardner Russo & Gardner Llc who had been investing in Brown for a number of months, seems to be bullish on the $24.42 billion market cap company. The stock decreased 2.02% or $1.06 during the last trading session, reaching $51.45. About 532,531 shares traded. Brown-Forman Corporation (NYSE:BF.B) has risen 40.18% since June 20, 2017 and is uptrending. It has outperformed by 27.61% the S&P500.

Gardner Russo & Gardner Llc, which manages about $10.72 billion and $14.33B US Long portfolio, decreased its stake in Procter & Gamble (NYSE:PG) by 7,564 shares to 52,860 shares, valued at $4.19 million in 2018Q1, according to the filing. It also reduced its holding in Wells Fargo (NYSE:WFC) by 120,172 shares in the quarter, leaving it with 12.35M shares, and cut its stake in Chevron Corp (NYSE:CVX).

More recent Brown-Forman Corporation (NYSE:BF.B) news were published by: Globenewswire.com which released: “Consolidated Research: 2018 Summary Expectations for Microchip Technology, New Jersey Resources, Brown …” on June 18, 2018. Also Seekingalpha.com published the news titled: “Brown-Forman Corporation (BF.B) CEO Paul Varga on Q4 2018 Results – Earnings Call Transcript” on June 06, 2018. Seekingalpha.com‘s news article titled: “Ross: EU will determine tariff escalation” with publication date: May 31, 2018 was also an interesting one.

Among 12 analysts covering Brown-Forman (NYSE:BF.B), 1 have Buy rating, 2 Sell and 9 Hold. Therefore 8% are positive. Brown-Forman had 43 analyst reports since July 21, 2015 according to SRatingsIntel. Pivotal Research maintained the stock with “Buy” rating in Thursday, June 7 report. The rating was maintained by Stifel Nicolaus on Thursday, August 27 with “Buy”. The firm earned “Hold” rating on Wednesday, March 7 by Stifel Nicolaus. The stock has “Hold” rating by Cowen & Co on Thursday, August 31. The company was maintained on Wednesday, December 6 by Cowen & Co. The stock of Brown-Forman Corporation (NYSE:BF.B) earned “Underweight” rating by Morgan Stanley on Monday, September 28. The stock has “Hold” rating by RBC Capital Markets on Friday, June 23. The firm has “Hold” rating given on Tuesday, July 25 by RBC Capital Markets. Pivotal Research downgraded Brown-Forman Corporation (NYSE:BF.B) rating on Thursday, December 7. Pivotal Research has “Hold” rating and $65.0 target. The stock has “Hold” rating by SunTrust on Thursday, December 22.

Apollo Management Holdings Lp, which manages about $10.79B US Long portfolio, decreased its stake in Caesars Entmt Corp (NASDAQ:CZR) by 529,869 shares to 49.88 million shares, valued at $561.19M in 2018Q1, according to the filing. It also reduced its holding in Sandridge Energy Inc by 219,101 shares in the quarter, leaving it with 809,451 shares, and cut its stake in Norwegian Cruise Line Hldgs (NASDAQ:NCLH).

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. Teton Advsrs Incorporated holds 0.1% in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) or 33,000 shares. 9,564 were accumulated by Proshare Advsr Llc. Citigroup holds 36,582 shares or 0% of its portfolio. Raging Limited Liability Company invested in 8.36% or 2.00M shares. Signaturefd Limited Liability stated it has 0% in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). Invesco Limited invested in 65,217 shares or 0% of the stock. Hall Laurie J Trustee has invested 0.01% of its portfolio in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). Moreover, Gam Ag has 0.01% invested in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) for 13,006 shares. Selz Cap Ltd Liability Company reported 140,000 shares. Brigade Capital Mgmt Lp accumulated 762,500 shares. Delphi Mgmt Inc Ma holds 1.46% or 76,894 shares in its portfolio. Geode Mngmt Ltd Limited Liability Company accumulated 673,557 shares or 0.01% of the stock. Brinker invested 0.02% in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). Comml Bank Of Montreal Can has 423 shares for 0% of their portfolio. Adams Diversified Equity Fund Incorporated stated it has 17,900 shares or 0.03% of all its holdings.

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

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

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