Geode Capital Management LLC Acquires 15,263 Shares of Sinclair, Inc. (NASDAQ:SBGI)

Geode Capital Management LLC increased its holdings in Sinclair, Inc. (NASDAQ:SBGI) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 826,949 shares of the company’s stock after acquiring an additional 15,263 shares during the period. Geode Capital Management LLC owned about 1.25% of Sinclair worth $12,655,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SBGI. Empyrean Capital Partners LP bought a new position in shares of Sinclair in the second quarter valued at approximately $2,873,000. Point72 Asset Management L.P. purchased a new position in Sinclair in the third quarter valued at approximately $2,110,000. Inspire Advisors LLC purchased a new position in Sinclair in the second quarter valued at approximately $1,552,000. Alden Global Capital LLC lifted 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 during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in Sinclair in the third quarter valued at approximately $1,605,000. 41.71% of the stock is owned by institutional investors.

Sinclair Trading Down 1.2 %

NASDAQ:SBGI opened at $15.63 on Tuesday. The company has a market cap of $1.04 billion, a P/E ratio of -4.74, a P/E/G ratio of 0.15 and a beta of 1.55. The stock’s fifty day moving average price is $16.90 and its two-hundred day moving average price is $15.13. Sinclair, Inc. has a 1 year low of $11.13 and a 1 year high of $18.45. 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 (NASDAQ:SBGI) last posted its earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.54. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The firm had revenue of $917.00 million for the quarter, compared to the consensus estimate of $923.02 million. During the same quarter in the prior year, the business posted ($0.30) earnings per share. The business’s quarterly revenue was up 19.6% on a year-over-year basis. As a group, analysts expect that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.25 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.40%. Sinclair’s dividend payout ratio (DPR) is presently -30.30%.

Analyst Ratings Changes

SBGI has been the topic of several research analyst reports. Rosenblatt Securities upped their price objective on Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a research note on Friday, September 20th. Guggenheim upped their price objective on Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. upped their price objective on Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Benchmark upped their price objective on Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Wells Fargo & Company upgraded Sinclair from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $13.00 to $19.00 in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.10.

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.