nVerses Capital LLC Acquires 1,500 Shares of Sinclair, Inc. (NASDAQ:SBGI)

nVerses Capital LLC grew its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI) by 71.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,600 shares of the company’s stock after purchasing an additional 1,500 shares during the period. nVerses Capital LLC’s holdings in Sinclair were worth $55,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SBGI. GAMMA Investing LLC grew its position in Sinclair by 81.6% during the third quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock worth $35,000 after buying an additional 1,026 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Sinclair during the 3rd quarter valued at $310,000. Central Pacific Bank Trust Division grew its holdings in shares of Sinclair by 66.7% during the 3rd quarter. Central Pacific Bank Trust Division now owns 10,000 shares of the company’s stock worth $153,000 after purchasing an additional 4,000 shares in the last quarter. Empyrean Capital Partners LP bought a new position in shares of Sinclair in the second quarter worth $2,873,000. Finally, Alden Global Capital LLC raised its stake in Sinclair by 10.5% in the second quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company’s stock valued at $16,341,000 after purchasing an additional 116,074 shares in the last quarter. 41.71% of the stock is owned by institutional investors.

Sinclair Trading Down 2.4 %

SBGI opened at $16.78 on Tuesday. The company’s 50 day moving average is $14.65 and its 200-day moving average is $13.74. The company has a market cap of $1.11 billion, a P/E ratio of -3.07, a PEG ratio of 0.14 and a beta of 1.55. Sinclair, Inc. has a 1-year low of $9.69 and a 1-year high of $17.98. 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 (NASDAQ:SBGI) last posted its earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.40. Sinclair had a negative net margin of 10.78% and a positive return on equity of 22.55%. The firm had revenue of $829.00 million for the quarter, compared to analysts’ expectations of $836.65 million. During the same quarter in the previous year, the firm posted ($1.09) earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. Equities research analysts predict that Sinclair, Inc. will post 4.57 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.96%. The ex-dividend date of this dividend was Friday, August 30th. Sinclair’s dividend payout ratio is currently -18.28%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Benchmark raised their target price on shares of Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Rosenblatt Securities lifted their price objective on shares of Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a research note on Friday, September 20th. Finally, StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Sinclair currently has a consensus rating of “Hold” and a consensus target price of $19.88.

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.