Within a three-month period, Sound Point Capital Management, LP finalized several major transactions in regard to its holdings. The changes to its portfolio occurred in the 4th quarter of 2020.
The firm completed the purchase of Sinclair Broadcast Group Inc. and DISH Network Corp. In addition, Sound Point Capital Management sold the following companies: Maxar Technologies Inc., FirstEnergy Corp., Clear Channel Outdoor Holdings Inc., and Plantronics Inc.
Early Results on the Recent Acquisitions
At the time of the Sinclair Broadcast Group acquisition, the shares of the organization were acquired at a price range between $17.19 to $32.31. The overall average price was $23.95 per share. At the end of 2020, the trading price of the stock was around $32.57. The firm witnessed an impact of 0.87% in its portfolio.
Regarding the DISH Network Corp, acquisition, the purchase prices per share ranged between a low of $24.81 and a high of $37.17 averaging approximately $30.80 each. The stock was up to $32.255000 representing an impact of 0.56% on the firm’s portfolio. This is according to the data reported by the company as of December 31, 2020.
Sound Point Capital Management Holdings
Sound Point Capital Management is an alternative asset investment and management firm. To date, the organization owns 15 stocks. The following list is a breakdown of their five top holdings and the percentage that each represents in their portfolio.
– SSGA SPD (41.67%)
– BTC iShares (33.08%)
– SSgA SPDR Gold Shares (7.59%)
– Sinclair Broadcast Group Inc. (3.38%)
– Gray Television Inc. (2.64%)
Sound Point Capital Management, LP was established in 2008. It is an American company, and its headquarters are located in New York, New York. The team has decades of experience, and its expertise includes strategic investments in the credit sector. The company reports an approximate total of $20 billion currently under its management. Their portfolio is comprised of numerous alternative asset classes, such as private funds, Collateralized Loan Obligations (CLOs) and other managed funds.
About Sound Point Capital
The founder of Sound Point Capital Management, LP is Mr. Stephen Ketchum. He is the Chief Investment Officer of the firm. His career in investing spans over more than 30 years. Mr. Ketchum is an expert in credit structuring, investment and portfolio management, and advisory. The firm is dedicated to providing customized investment advisory on behalf of its clients. Under his leadership, he and his team have built a trusted, highly successful company with a proven track record.
Sinclair Broadcast Group, Inc. is one of the largest and most diversified television broadcasting companies in the country. Sinclair owns and operates, programs or provides sales services to more television stations than anyone and has affiliations with all the major networks. In addition, Sinclair is the leading local news provider in the country, as well as a producer of sports content. Sinclair Broadcast Group owns a multicast network, four radio stations, and a cable network. Sinclair’s broadcast content is delivered via multiple platforms, including over-the-air, multi-channel video program distributors, and digital platforms. Sinclair, either directly or through its venture subsidiaries, makes equity investments in strategic companies. Sinclair Broadcast Group, Inc. was founded in 1986, went public in 1995, and is traded on the NASDAQ Global Select Market under the ticker symbol SBGI.
Throughout our history, Sinclair Broadcast Group has been at the forefront of industry-changing events and technological advances. Our vision and first-to-market mentality drive our ‘next generation’ thinking; stimulating conversations, innovating through our expertise, and advocating for the development of technology and evolving business models.
As a leading over-the-air broadcast television company, our primary business is to engage consumers on multiple platforms with relevant and compelling news, entertainment, and sports content, and to provide advertisers and business efficient means and value to connect with our mass audiences. We recognize the vital role broadcast television plays in branding and local content delivery, and therefore strive to constantly be at the forefront of leading-edge technology and structures to advance the industry