New York State Common Retirement Fund Acquires 1,700 Shares of Sinclair, Inc. (NASDAQ:SBGI)

New York State Common Retirement Fund grew its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI) by 29.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,480 shares of the company’s stock after purchasing an additional 1,700 shares during the quarter. New York State Common Retirement Fund’s holdings in Sinclair were worth $121,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in Sinclair by 26.9% during the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after purchasing an additional 613 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Sinclair in the third quarter valued at approximately $39,000. HighTower Advisors LLC lifted its stake in shares of Sinclair by 15.4% during the 3rd quarter. HighTower Advisors LLC now owns 28,463 shares of the company’s stock valued at $433,000 after buying an additional 3,801 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Sinclair in the 3rd quarter valued at approximately $91,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Sinclair during the 3rd quarter valued at $121,000. 41.71% of the stock is currently owned by institutional investors.

Sinclair Trading Up 5.7 %

Shares of SBGI stock opened at $14.33 on Thursday. The business has a 50-day moving average of $15.10 and a 200 day moving average of $15.62. 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 1-year low of $11.13 and a 1-year high of $18.45. The stock has a market capitalization of $951.81 million, a PE ratio of -4.34 and a beta of 1.55.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.62. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. As a group, sell-side analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.00 annualized dividend and a dividend yield of 6.98%. Sinclair’s dividend payout ratio is presently 21.46%.

Insider Buying and Selling

In related news, Chairman David D. Smith acquired 38,410 shares of Sinclair stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average price of $14.01 per share, with a total value of $538,124.10. Following the transaction, the chairman now directly owns 645,564 shares in the company, valued at approximately $9,044,351.64. This represents a 6.33 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 46.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SBGI. JPMorgan Chase & Co. increased their price target on shares of Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Guggenheim increased their target price on shares of Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Benchmark restated a “buy” rating and set a $30.00 price target on shares of Sinclair in a research report on Tuesday, January 28th. StockNews.com downgraded Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Wells Fargo & Company reduced their target price on Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Sinclair has an average rating of “Hold” and a consensus price target of $19.70.

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.