State Street Corp Has $13.52 Million Holdings in Sinclair, Inc. (NASDAQ:SBGI)

State Street Corp raised its stake in Sinclair, Inc. (NASDAQ:SBGI) by 0.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 883,873 shares of the company’s stock after acquiring an additional 1,482 shares during the quarter. State Street Corp owned approximately 1.33% of Sinclair worth $13,523,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Alden Global Capital LLC boosted its position 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 buying an additional 116,074 shares in the last quarter. Gabelli Funds LLC increased its stake in shares of Sinclair by 1.7% in the second quarter. Gabelli Funds LLC now owns 1,208,700 shares of the company’s stock valued at $16,112,000 after buying an additional 20,700 shares during the period. Pinnacle Associates Ltd. raised its holdings in Sinclair by 2.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 642,738 shares of the company’s stock valued at $9,834,000 after buying an additional 14,384 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Sinclair by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 447,519 shares of the company’s stock worth $5,965,000 after buying an additional 21,360 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of Sinclair by 5.4% during the third quarter. Empowered Funds LLC now owns 232,090 shares of the company’s stock valued at $3,551,000 after acquiring an additional 11,792 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SBGI. Rosenblatt Securities boosted their price objective on shares of Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. raised their price objective on Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Guggenheim upped their target price on Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. Finally, Benchmark increased their price objective 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $20.10.

Sinclair Price Performance

Sinclair stock opened at $15.91 on Thursday. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -4.82, a PEG ratio of 0.15 and a beta of 1.55. Sinclair, Inc. has a 52-week low of $11.13 and a 52-week high of $18.45. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. The stock’s 50 day moving average price is $17.01 and its two-hundred day moving average price is $15.02.

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

Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.25 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 6.29%. Sinclair’s dividend payout ratio (DPR) is presently -30.30%.

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.