Sinclair, Inc. (NASDAQ:SBGI) Shares Purchased by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division increased its stake in shares of Sinclair, Inc. (NASDAQ:SBGI) by 66.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,000 shares of the company’s stock after purchasing an additional 4,000 shares during the period. Central Pacific Bank Trust Division’s holdings in Sinclair were worth $153,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of SBGI. Capital Management Corp VA raised its position in shares of Sinclair by 36.7% during the 1st quarter. Capital Management Corp VA now owns 2,006,720 shares of the company’s stock worth $27,031,000 after purchasing an additional 538,740 shares during the last quarter. Alden Global Capital LLC raised its position in shares of Sinclair by 86.1% during the 4th quarter. Alden Global Capital LLC now owns 645,400 shares of the company’s stock worth $8,410,000 after purchasing an additional 298,508 shares during the last quarter. Empyrean Capital Partners LP acquired a new position in shares of Sinclair during the 2nd quarter worth about $2,873,000. Inspire Advisors LLC acquired a new position in shares of Sinclair during the 2nd quarter worth about $1,552,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Sinclair during the 1st quarter worth about $1,359,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Analysts Set New Price Targets

SBGI has been the subject of a number of recent research reports. StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. Benchmark increased their price objective on shares of Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, Rosenblatt Securities increased their price objective on shares of Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Sinclair currently has a consensus rating of “Hold” and a consensus price target of $19.88.

Sinclair Stock Up 4.0 %

SBGI stock opened at $16.65 on Friday. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -2.34, a PEG ratio of 0.13 and a beta of 1.55. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 14.93. Sinclair, Inc. has a 12 month low of $9.39 and a 12 month high of $17.58. The firm has a 50-day moving average of $13.96 and a two-hundred day moving average of $13.38.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.40. The business had revenue of $829.00 million during the quarter, compared to the consensus estimate of $836.65 million. Sinclair had a negative net margin of 10.78% and a positive return on equity of 22.55%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.09) EPS. As a group, analysts forecast that Sinclair, Inc. will post 4.57 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.01%. Sinclair’s dividend payout ratio is currently -14.04%.

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.