Investing

Sinclair Broadcasting, Investors Bancorp Sink into Thursday's 52-Week Low Club

July 19, 2018: Here are four stocks trading with heavy volume among 76 equities making new 52-week lows in Thursday’s session. On the NYSE advancers led decliners by about 1.4 to 1 and on the Nasdaq, advancers led decliners by about 1.27 to 1.

Investors Bancorp Inc. (NASDAQ: ISBC) traded down less than 0.1% Thursday and posted a new 52-week low of $12.52 after closing Wednesday at $12.63. The stock’s 52-week high is $14.69. Volume totaled around 6.2 million, more than double the daily average. The company had no specific news and shares have reversed course, heading for a gain of about 1% for the day.

Vodafone Group plc (NASDAQ: VOD) dropped about 1.7% Thursday to post a new 52-week low of $23.28. Shares closed at $23.68 on Wednesday and the stock’s 52-week high is $32.75. Volume totaled 40% higher than the daily average of around 3.9 million. The company had no specific news.

Sibanye Gold Ltd. (NYSE: SBGL) traded down about 7.6% Thursday to post a new 52-week low of $2.07 after closing Wednesday at $2.24. The stock’s 52-week high is $6.76. Volume was about equal to the daily average of about 4.1 million shares. The company had no specific news.

Sinclair Broadcasting Group Inc. (NASDAQ: SBGI) traded down about 5.1% Thursday to set a new 52-week low of $26.00. Shares closed at $27.40 on Wednesday, and the 52-week high is $40.15. Volume was more than double the daily average of around 1.7 million. The company was stung by the release of an FCC letter claiming that Sinclair did not “fully disclose facts” in some parts of its communications related to the acquisition of Tribune Media.