Soroban Capital Partners Discloses New Position in Sinclair Broadcast Group Inc (SBGI)

Eric W. Mandelblatt‘s Soroban Capital Partners revealed a new position stake in Sinclair Broadcast Group Inc (NASDAQ:SBGI). According to a recent 13G filing, the fund currently owns 3.80 million shares, a 5.30% passive stake in the company.

Sinclair Broadcast Group, Inc. (NASDAQ:SBGI)

Founded  in 1986, by Julian Sinclair Smith, Sinclair Broadcast Group Inc (NASDAQ:SBGI) is one of the largest and most diversified television broadcasting companies in the United States. Operating 167 television stations across the country, the company’s television group reaches almost 39.00% of US television households and includes FOX, ABC, and NBC affiliates. In addition, Sinclair owns four radio stations. A month ago the company’s Board of Directors approved a new $150.0 million share repurchase authorization
to be accessed once its existing authorization is exhausted. In 2013 Sinclair Broadcast Group Inc (NASDAQ:SBGI) generated net income of $73.50 million or $1.18 per share, compared to $1.78 per share in 2012. Recently announcing a quarterly cash dividend of $0.15 per share, the company is expected to produce earnings of $0.18 per share in the first quarter of 2014. Sinclair’s stock currently trades at $26.xx per share, around 40.xx times its EPS, compared to the industry average of 4.30.   The average analyst recommendation for the company’s stock is “Buy”.

Robert Hockett‘s Covalent Capital Partners and Martin D. Sass‘ Md Sass also hold significant positions in Sinclair Broadcast Group Inc (NASDAQ:SBGI), with the former owning 440,000 shares worth $15.70 million and the latter owning nearly 2.00 million shares worth $71.35 million.

A former Goldman Sachs energy analyst, Eric W. Mandelblatt founded the New York based Soroban Capital Partners in 2010. The fund manages an equity portfolio with a total value of approximately $11.50 billion, 40.00% of which is invested in the Services Sector. On December 17, 2014, Soroban Capital signed an agreement with Keith Meister‘s Corvex Capital, which would render Eric Mandelblatt to join Williams Companies, Inc. (NYSE:WMB)’s Board of Directors. Soroban Capital owns almost 17.50 million shares in Williams, the position worth $672.50 million.

Disclosure: none

Recommended reading:

Silver Point Capital Ups stake in Standard Register Co (SR)

Corvex Capital and Soroban Increase Their Position in Williams Companies, Inc. (WMB)

Jacob Gottlieb, Visium Asset Management Boost Stake In Brookdale Senior Living, Inc. (BKD)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!