JPMorgan Chase & Co. Has $426,000 Position in Sinclair, Inc. (NASDAQ:SBGI)

JPMorgan Chase & Co. lessened its stake in shares of Sinclair, Inc. (NASDAQ:SBGI) by 66.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 27,851 shares of the company’s stock after selling 55,944 shares during the quarter. JPMorgan Chase & Co.’s holdings in Sinclair were worth $426,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SBGI. Point72 Asset Management L.P. bought a new stake in shares of Sinclair during the third quarter worth approximately $2,110,000. Segall Bryant & Hamill LLC bought a new stake in Sinclair in the 3rd quarter valued at $1,605,000. Verition Fund Management LLC bought a new stake in Sinclair in the 3rd quarter valued at $822,000. Barclays PLC increased its position in Sinclair by 378.1% during the 3rd quarter. Barclays PLC now owns 54,229 shares of the company’s stock worth $831,000 after buying an additional 42,887 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Sinclair during the third quarter worth $310,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Sinclair Trading Up 1.0 %

Shares of Sinclair stock opened at $14.64 on Thursday. The firm’s 50 day moving average is $16.50 and its 200 day moving average is $15.55. The firm has a market capitalization of $972.39 million, a PE ratio of -4.44 and a beta of 1.57. Sinclair, Inc. has a 1 year low of $11.13 and a 1 year high of $18.45. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73.

Sinclair (NASDAQ:SBGI) last issued its earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $917.00 million for the quarter, compared to analyst estimates of $923.02 million. During the same quarter last year, the business posted ($0.30) earnings per share. The company’s quarterly revenue was up 19.6% on a year-over-year basis. Equities research analysts forecast that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.83%. The ex-dividend date was Monday, December 2nd. Sinclair’s dividend payout ratio (DPR) is currently -30.30%.

Analyst Ratings Changes

Several brokerages have recently commented on SBGI. JPMorgan Chase & Co. raised their target price on shares of Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Benchmark reissued a “buy” rating and issued a $30.00 target price on shares of Sinclair in a report on Tuesday. Guggenheim increased their price target on shares of Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company upgraded shares of Sinclair from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $13.00 to $19.00 in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sinclair presently has an average rating of “Hold” and a consensus price target of $20.10.

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.