Sinclair, Inc. (NASDAQ:SBGI) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in Sinclair, Inc. (NASDAQ:SBGI) by 5.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,126 shares of the company’s stock after selling 1,112 shares during the period. SG Americas Securities LLC’s holdings in Sinclair were worth $309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. San Luis Wealth Advisors LLC purchased a new stake in shares of Sinclair during the 4th quarter worth approximately $791,000. GAMMA Investing LLC increased its position in shares of Sinclair by 26.9% during the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock worth $47,000 after purchasing an additional 613 shares in the last quarter. Barclays PLC increased its position in shares of Sinclair by 378.1% during the third quarter. Barclays PLC now owns 54,229 shares of the company’s stock worth $831,000 after purchasing an additional 42,887 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Sinclair by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 826,949 shares of the company’s stock valued at $12,655,000 after purchasing an additional 15,263 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Sinclair in the 3rd quarter valued at about $91,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Sinclair Stock Up 2.6 %

Shares of NASDAQ SBGI opened at $14.92 on Wednesday. The stock has a market capitalization of $990.99 million, a price-to-earnings ratio of -4.52 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 firm has a 50-day moving average price of $16.29 and a 200 day moving average price of $15.54. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73.

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

Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 6.70%. Sinclair’s dividend payout ratio is presently -30.30%.

Analysts Set New Price Targets

SBGI has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price objective on Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Wells Fargo & Company upgraded shares of Sinclair from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $13.00 to $19.00 in a research note on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and issued a $30.00 target price on shares of Sinclair in a report on Tuesday, January 28th. Finally, Guggenheim boosted their price target on Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $20.10.

About Sinclair

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.