Kingdon Capital Management Stake in Sinclair Broadcast Group (SBGI) Lowered as Share Price Declined; Hite Hedge Asset Management Increases Position in Energy Transfer Equity LP (ETE)

January 14, 2018 - By Linda Rogers

Hite Hedge Asset Management Llc increased its stake in Energy Transfer Equity LP (ETE) by 719.41% based on its latest 2017Q3 regulatory filing with the SEC. Hite Hedge Asset Management Llc bought 434,993 shares as the company’s stock declined 2.31% while stock markets rallied. The hedge fund held 495,458 shares of the public utilities company at the end of 2017Q3, valued at $8.61 million, up from 60,465 at the end of the previous reported quarter. Hite Hedge Asset Management Llc who had been investing in Energy Transfer Equity LP for a number of months, seems to be bullish on the $19.50B market cap company. The stock increased 1.12% or $0.2 during the last trading session, reaching $18.03. About 4.63 million shares traded. Energy Transfer Equity, L.P. (NYSE:ETE) has risen 42.68% since January 14, 2017 and is uptrending. It has outperformed by 25.98% the S&P500.

Mark Kingdon decreased its stake in Sinclair Broadcast Group Inc (SBGI) by 61.45% based on its latest 2017Q3 regulatory filing with the SEC. Kingdon Capital Management Llc sold 459,761 shares as the company’s stock declined 9.32% while stock markets rallied. The hedge fund run by Mark Kingdon held 288,466 shares of the consumer services company at the end of 2017Q3, valued at $9.25 million, down from 748,227 at the end of the previous reported quarter. Kingdon Capital Management Llc who had been investing in Sinclair Broadcast Group Inc for a number of months, seems to be less bullish one the $3.97 billion market cap company. The stock decreased 0.89% or $0.35 during the last trading session, reaching $39.05. About 1.13M shares traded. Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) has risen 12.28% since January 14, 2017 and is uptrending. It has underperformed by 4.42% the S&P500.

Kingdon Capital Management Llc, which manages about $3.27B and $1.53B US Long portfolio, upped its stake in Xpo Logistics Inc (NYSE:XPO) by 316,626 shares to 595,465 shares, valued at $40.36M in 2017Q3, according to the filing. It also increased its holding in Select Sector Spdr Tr (Call) (XLF) by 1.00M shares in the quarter, for a total of 4.00M shares, and has risen its stake in Heron Therapeutics Inc (NASDAQ:HRTX).

Investors sentiment decreased to 1.23 in Q3 2017. Its down 0.35, from 1.58 in 2017Q2. It fall, as 39 investors sold SBGI shares while 58 reduced holdings. 41 funds opened positions while 78 raised stakes. 83.23 million shares or 3.94% more from 80.08 million shares in 2017Q2 were reported. Peak6 Lp holds 0.03% of its portfolio in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) for 164,017 shares. Alps Advsr, Colorado-based fund reported 16,392 shares. Frontfour Cap Group Incorporated Ltd Com reported 83,647 shares. Fifth Third Natl Bank owns 0% invested in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) for 9,281 shares. The France-based Axa has invested 0.04% in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI). Hall Laurie J Trustee accumulated 570 shares. Rothschild Asset Mgmt reported 924,384 shares. Lpl Financial Ltd Liability Corp invested in 0.01% or 69,723 shares. Fmr Ltd Company owns 5.87 million shares. New York State Common Retirement Fund owns 331,886 shares or 0.01% of their US portfolio. 477,847 are held by Pacific Alternative Asset Management Co Ltd Liability Com. 339,547 are held by Credit Suisse Ag. Employees Retirement Association Of Colorado accumulated 14,867 shares or 0% of the stock. 79,787 were accumulated by Bluefin Trading Ltd. Parametric Associates Limited Liability owns 0% invested in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) for 85,939 shares.

Among 7 analysts covering Sinclair Broadcast Group Inc (NASDAQ:SBGI), 7 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Sinclair Broadcast Group Inc had 21 analyst reports since July 30, 2015 according to SRatingsIntel. The rating was maintained by RBC Capital Markets on Thursday, August 3 with “Buy”. RBC Capital Markets maintained Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) rating on Tuesday, November 10. RBC Capital Markets has “Outperform” rating and $39 target. The rating was maintained by RBC Capital Markets on Wednesday, November 1 with “Buy”. Wedbush maintained Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) on Thursday, February 23 with “Outperform” rating. The firm has “Equal-Weight” rating given on Wednesday, November 18 by Stephens. The firm has “Buy” rating given on Wednesday, July 5 by RBC Capital Markets. The stock has “Buy” rating by RBC Capital Markets on Tuesday, September 26. The stock of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) has “Buy” rating given on Tuesday, August 1 by Benchmark. RBC Capital Markets maintained it with “Outperform” rating and $47 target in Thursday, February 23 report. The rating was maintained by Wedbush on Tuesday, September 27 with “Outperform”.

Analysts await Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) to report earnings on February, 28. They expect $0.62 EPS, down 53.03% or $0.70 from last year’s $1.32 per share. SBGI’s profit will be $63.08M for 15.75 P/E if the $0.62 EPS becomes a reality. After $0.30 actual EPS reported by Sinclair Broadcast Group, Inc. for the previous quarter, Wall Street now forecasts 106.67% EPS growth.

Investors sentiment increased to 0.88 in Q3 2017. Its up 0.02, from 0.86 in 2017Q2. It improved, as 25 investors sold ETE shares while 100 reduced holdings. 35 funds opened positions while 75 raised stakes. 527.77 million shares or 5.64% more from 499.59 million shares in 2017Q2 were reported. 1,520 were accumulated by Burt Wealth Advsrs. Verition Fund Management Ltd Liability reported 0.12% in Energy Transfer Equity, L.P. (NYSE:ETE). Tower Limited Liability (Trc) has 0% invested in Energy Transfer Equity, L.P. (NYSE:ETE) for 495 shares. Signature Financial Inc holds 0.35% or 66,399 shares in its portfolio. Enterprise Financial Services has 0.03% invested in Energy Transfer Equity, L.P. (NYSE:ETE) for 3,917 shares. Assetmark owns 1,650 shares for 0% of their portfolio. Bokf Na stated it has 0.03% in Energy Transfer Equity, L.P. (NYSE:ETE). Fiduciary Services Of The Southwest Tx accumulated 80,856 shares. 17,930 are held by Saratoga Research And Invest Mngmt. Fifth Third National Bank & Trust holds 0.01% or 76,953 shares in its portfolio. Bb&T Corporation owns 0% invested in Energy Transfer Equity, L.P. (NYSE:ETE) for 10,000 shares. 147,215 are held by Natl Bank Of New York Mellon. Edgemoor Investment reported 0.14% in Energy Transfer Equity, L.P. (NYSE:ETE). 10,980 were accumulated by Round Table Llc. Cv Starr And Incorporated owns 4.99% invested in Energy Transfer Equity, L.P. (NYSE:ETE) for 620,000 shares.

Hite Hedge Asset Management Llc, which manages about $778.61 million and $387.03 million US Long portfolio, decreased its stake in Usd Partners Lp by 141,924 shares to 70,788 shares, valued at $779,000 in 2017Q3, according to the filing. It also reduced its holding in Suburban Propane Partners L (NYSE:SPH) by 189,763 shares in the quarter, leaving it with 135,349 shares, and cut its stake in Williams Partners LP New (ACMP).

Among 15 analysts covering Energy Transfer Equity LP (NYSE:ETE), 12 have Buy rating, 0 Sell and 3 Hold. Therefore 80% are positive. Energy Transfer Equity LP had 36 analyst reports since October 27, 2015 according to SRatingsIntel. The firm has “Outperform” rating given on Tuesday, July 26 by Credit Suisse. The rating was upgraded by Bernstein to “Outperform” on Tuesday, November 8. Jefferies maintained the shares of ETE in report on Friday, September 8 with “Buy” rating. BMO Capital Markets maintained Energy Transfer Equity, L.P. (NYSE:ETE) on Friday, August 18 with “Hold” rating. The stock of Energy Transfer Equity, L.P. (NYSE:ETE) has “Buy” rating given on Wednesday, April 19 by Jefferies. The firm has “Buy” rating given on Monday, October 9 by RBC Capital Markets. Stephens initiated Energy Transfer Equity, L.P. (NYSE:ETE) on Thursday, September 29 with “Equal-Weight” rating. The stock has “Buy” rating by RBC Capital Markets on Thursday, July 27. The stock has “Overweight” rating by JP Morgan on Friday, September 2. The firm has “Hold” rating given on Thursday, October 12 by BMO Capital Markets.

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