Sinclair Broadcast Group Inc (SBGI) Insider Drops Position In Company By 138,880 Shares

Sinclair Broadcast Group Inc (NASDAQ:SBGI), saw Director Robert E. Smith lower his stakes in the company. In two transactions, starting on June 30th, Smith disposed of a combined 138,880 shares of common stock at range of $35.00 to $35.40 per share. Following these two transactions, Smith directly holds 6,329,806 shares in Sinclair Broadcast Group Inc (NASDAQ:SBGI), the $3.48 billion market cap broadcasting company that provides operating or sales services to numerous television stations.
In addition, there are multiple hedge funds with major holdings in the company. Richard Barrera‘s Roystone Capital Partners reported a 114% increase in participation over the last quarter, and now has 3,500,000 shares worth about $95 million; Eric W. Mandelblatt‘s Soroban Capital Partners  holds 3,448,130 shares worth around $93.4 million; Md Sass, the hedge fund run by Martin D. Sass, rose it’s exposure to Sinclair Broadcast Group Inc (NASDAQ:SBGI) by 39% last quarter, now holding 2,784,509 shares worth approximately $75.4 million.
Disclosure: The author, Daniel Forstein, holds no positions in any stocks mentioned.