Sinclair, Inc. (NASDAQ:SBGI) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC grew its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI) by 28.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,325 shares of the company’s stock after acquiring an additional 2,918 shares during the period. Hsbc Holdings PLC’s holdings in Sinclair were worth $177,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Campbell & CO Investment Adviser LLC purchased a new position in Sinclair in the fourth quarter valued at about $468,000. Alden Global Capital LLC grew its position in shares of Sinclair by 86.1% during the fourth quarter. Alden Global Capital LLC now owns 645,400 shares of the company’s stock worth $8,410,000 after buying an additional 298,508 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Sinclair by 14.3% in the first quarter. Los Angeles Capital Management LLC now owns 23,226 shares of the company’s stock worth $313,000 after buying an additional 2,900 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in Sinclair in the first quarter valued at $180,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Sinclair by 92.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,706 shares of the company’s stock valued at $144,000 after acquiring an additional 5,147 shares during the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SBGI shares. Benchmark boosted their target price on shares of Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. StockNews.com upgraded Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. Finally, Rosenblatt Securities boosted their price target on Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.88.

Sinclair Price Performance

SBGI opened at $16.65 on Friday. 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 company’s 50-day moving average price is $13.96 and its 200 day moving average price is $13.39. Sinclair, Inc. has a fifty-two week low of $9.39 and a fifty-two week high of $17.58. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of -2.34, a price-to-earnings-growth ratio of 0.13 and a beta of 1.55.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share 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 business had revenue of $829.00 million for the quarter, compared to analysts’ expectations of $836.65 million. During the same period in the prior year, the firm earned ($1.09) EPS. The business’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts expect that Sinclair, Inc. will post 4.57 earnings per share for the current year.

Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.25 per share. The ex-dividend date was Friday, August 30th. This represents a $1.00 annualized dividend and a dividend yield of 6.01%. Sinclair’s dividend payout ratio 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.