Sinclair, Inc. (NASDAQ:SBGI) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its stake in Sinclair, Inc. (NASDAQ:SBGI) by 22.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 434,607 shares of the company’s stock after selling 128,914 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.65% of Sinclair worth $7,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Bailard Inc. purchased a new position in shares of Sinclair during the fourth quarter worth $279,000. New York State Common Retirement Fund raised its stake 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 buying an additional 1,700 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Sinclair by 56.3% during the fourth quarter. Rhumbline Advisers now owns 86,072 shares of the company’s stock worth $1,389,000 after purchasing an additional 31,015 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Sinclair by 5.1% during the fourth quarter. Empowered Funds LLC now owns 243,973 shares of the company’s stock worth $3,938,000 after purchasing an additional 11,883 shares during the last quarter. Finally, San Luis Wealth Advisors LLC purchased a new position in shares of Sinclair during the fourth quarter worth about $791,000. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Sinclair Stock Performance

Shares of SBGI stock opened at $16.96 on Monday. Sinclair, Inc. has a 12 month low of $11.13 and a 12 month high of $18.46. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. The firm has a market capitalization of $1.13 billion, a P/E ratio of -5.14 and a beta of 1.50. The company’s fifty day moving average price is $14.82 and its two-hundred day moving average price is $15.76.

Sinclair (NASDAQ:SBGI) last issued 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. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. On average, research analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.90%. The ex-dividend date of this dividend is Monday, March 10th. Sinclair’s dividend payout ratio (DPR) is presently 21.46%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SBGI shares. Guggenheim lowered their price objective on Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Benchmark reiterated a “buy” rating and issued a $30.00 price target on shares of Sinclair in a report on Tuesday, January 28th. Wells Fargo & Company lowered their price objective on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Finally, StockNews.com cut shares of Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. 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. Based on data from MarketBeat.com, Sinclair presently has a consensus rating of “Hold” and an average target price of $19.30.

Insider Activity

In other Sinclair news, Chairman David D. Smith bought 30,296 shares of Sinclair stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $14.09 per share, for a total transaction of $426,870.64. Following the completion of the acquisition, the chairman now owns 728,986 shares of the company’s stock, valued at approximately $10,271,412.74. This represents a 4.34 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 244,639 shares of company stock worth $3,550,290 over the last three months. Corporate insiders own 46.60% of the company’s stock.

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.