Sinclair, Inc. (NASDAQ:SBGI) Shares Sold by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC lowered its holdings in Sinclair, Inc. (NASDAQ:SBGI) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,031 shares of the company’s stock after selling 961 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Sinclair were worth $243,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Sinclair by 26.9% in the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after acquiring an additional 613 shares during the period. Point72 DIFC Ltd acquired a new stake in Sinclair in the third quarter valued at $91,000. New York State Common Retirement Fund lifted its holdings in Sinclair by 29.4% in the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock valued at $121,000 after acquiring an additional 1,700 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Sinclair in the third quarter valued at $121,000. Finally, Bailard Inc. acquired a new stake in Sinclair in the fourth quarter valued at $279,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Insiders Place Their Bets

In other Sinclair news, Chairman David D. Smith purchased 38,410 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of $14.01 per share, with a total value of $538,124.10. Following the acquisition, the chairman now owns 645,564 shares of the company’s stock, valued at approximately $9,044,351.64. This represents a 6.33 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have acquired 178,432 shares of company stock valued at $2,501,881. Company insiders own 46.60% of the company’s stock.

Analyst Ratings Changes

SBGI has been the subject of several research reports. Wells Fargo & Company cut their price target on Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Guggenheim cut their price target on Sinclair from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Benchmark reaffirmed a “buy” rating and set a $30.00 price target on shares of Sinclair in a research note on Tuesday, January 28th. Finally, StockNews.com downgraded Sinclair from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. One research 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $19.30.

Sinclair Stock Performance

Sinclair stock opened at $14.85 on Friday. The stock’s 50 day moving average price is $14.84 and its 200 day moving average price is $15.65. The firm has a market capitalization of $987.06 million, a PE ratio of -4.50 and a beta of 1.50. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. Sinclair, Inc. has a one year low of $11.13 and a one year high of $18.46.

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

Sinclair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid 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 yield of 6.73%. Sinclair’s payout ratio is 21.46%.

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.