HighTower Advisors LLC Has $433,000 Holdings in Sinclair, Inc. (NASDAQ:SBGI)

HighTower Advisors LLC lifted its stake in Sinclair, Inc. (NASDAQ:SBGI) by 15.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,463 shares of the company’s stock after buying an additional 3,801 shares during the period. HighTower Advisors LLC’s holdings in Sinclair were worth $433,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Alden Global Capital LLC increased its stake in Sinclair by 10.5% in the second quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company’s stock valued at $16,341,000 after acquiring an additional 116,074 shares during the last quarter. Gabelli Funds LLC raised its stake in Sinclair by 1.7% during the second quarter. Gabelli Funds LLC now owns 1,208,700 shares of the company’s stock worth $16,112,000 after acquiring an additional 20,700 shares in the last quarter. Pinnacle Associates Ltd. lifted its holdings in shares of Sinclair by 2.3% in the third quarter. Pinnacle Associates Ltd. now owns 642,738 shares of the company’s stock worth $9,834,000 after acquiring an additional 14,384 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Sinclair by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 447,519 shares of the company’s stock valued at $5,965,000 after purchasing an additional 21,360 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of Sinclair by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 232,090 shares of the company’s stock valued at $3,551,000 after purchasing an additional 11,792 shares during the last quarter. Institutional investors own 41.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SBGI. Wells Fargo & Company upgraded Sinclair from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $13.00 to $19.00 in a research note on Thursday, November 7th. Benchmark lifted their price target on Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Guggenheim raised their price objective on shares of Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Rosenblatt Securities boosted their target price 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, JPMorgan Chase & Co. raised their price target on shares of Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Sinclair currently has a consensus rating of “Hold” and a consensus target price of $20.10.

Sinclair Stock Performance

Shares of Sinclair stock opened at $16.08 on Friday. The business has a 50-day simple moving average of $17.07 and a 200 day simple moving average of $14.96. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -4.87, a PEG ratio of 0.15 and a beta of 1.55. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. Sinclair, Inc. has a one year low of $11.13 and a one year high of $18.45.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.54. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The business had revenue of $917.00 million during the quarter, compared to the consensus estimate of $923.02 million. During the same quarter last year, the firm posted ($0.30) EPS. Sinclair’s revenue was up 19.6% compared to the same quarter last year. On average, research analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 6.22%. Sinclair’s dividend payout ratio is currently -30.30%.

Sinclair 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.