Rhumbline Advisers Reduces Stake in Sinclair, Inc. (NASDAQ:SBGI)

Rhumbline Advisers cut its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI) by 12.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 52,138 shares of the company’s stock after selling 7,247 shares during the quarter. Rhumbline Advisers owned 0.08% of Sinclair worth $695,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in shares of Sinclair by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,889,863 shares of the company’s stock worth $24,626,000 after purchasing an additional 78,793 shares during the last quarter. Alden Global Capital LLC raised its stake in shares of Sinclair by 86.1% during the 4th quarter. Alden Global Capital LLC now owns 645,400 shares of the company’s stock valued at $8,410,000 after buying an additional 298,508 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Sinclair by 52.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 114,864 shares of the company’s stock valued at $1,549,000 after buying an additional 39,624 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Sinclair in the first quarter worth about $1,359,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Sinclair by 92.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,706 shares of the company’s stock worth $144,000 after acquiring an additional 5,147 shares during the period. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on SBGI. Benchmark upped their price objective on Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday. Rosenblatt Securities increased their price target on shares of Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a report on Friday, September 20th. Finally, StockNews.com lowered shares of Sinclair from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.88.

Sinclair Stock Up 2.7 %

Shares of NASDAQ SBGI opened at $14.77 on Wednesday. Sinclair, Inc. has a 52-week low of $9.39 and a 52-week high of $17.58. The company’s 50-day simple moving average is $13.86 and its 200-day simple moving average is $13.24. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 14.93. The firm has a market cap of $977.45 million, a price-to-earnings ratio of -2.07, a price-to-earnings-growth ratio of 0.12 and a beta of 1.54.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.40. Sinclair had a positive return on equity of 22.55% and a negative net margin of 10.78%. The firm had revenue of $829.00 million for the quarter, compared to the consensus estimate of $836.65 million. During the same quarter last year, the business posted ($1.09) earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year. Equities analysts predict that Sinclair, Inc. will post 4.57 EPS for the current fiscal year.

Sinclair Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date of this dividend was Friday, August 30th. Sinclair’s dividend payout ratio (DPR) is currently -14.04%.

Sinclair Company Profile

Sinclair, Inc, a media company, provides content on local television stations and digital platforms in the United States. It operates through two segments, Local Media and Tennis. The Local Media segment operates broadcast television stations, original networks, and content; provides free-over-the-air programming and live local sporting events on its stations; distributes its content to multi-channel video programming distributors in exchange for contractual fees; and produces local and original news programs.