Central Pacific Bank Trust Division Lowers Stock Holdings in Sinclair, Inc. (NASDAQ:SBGI)

Central Pacific Bank Trust Division cut its stake in shares of Sinclair, Inc. (NASDAQ:SBGI) by 55.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,500 shares of the company’s stock after selling 5,500 shares during the period. Central Pacific Bank Trust Division’s holdings in Sinclair were worth $73,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SBGI. GAMMA Investing LLC lifted its stake in shares of Sinclair by 81.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock worth $35,000 after acquiring an additional 1,026 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Sinclair in the third quarter valued at about $39,000. nVerses Capital LLC boosted its holdings in Sinclair by 71.4% in the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $55,000 after purchasing an additional 1,500 shares in the last quarter. Headlands Technologies LLC increased its position in Sinclair by 1,039.0% during the 2nd quarter. Headlands Technologies LLC now owns 4,647 shares of the company’s stock worth $62,000 after purchasing an additional 4,239 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in Sinclair during the 3rd quarter worth approximately $91,000. 41.71% of the stock is owned by institutional investors and hedge funds.

Sinclair Trading Up 0.9 %

NASDAQ:SBGI opened at $17.14 on Monday. Sinclair, Inc. has a 52-week low of $11.13 and a 52-week high of $18.45. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. The stock has a fifty day simple moving average of $16.91 and a 200-day simple moving average of $15.25. The company has a market capitalization of $1.14 billion, a PE ratio of -5.19, a price-to-earnings-growth ratio of 0.15 and a beta of 1.57.

Sinclair (NASDAQ:SBGI) last announced its earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.54. The company had revenue of $917.00 million during the quarter, compared to analysts’ expectations of $923.02 million. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The firm’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.30) earnings per share. On average, equities research analysts expect that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.83%. The ex-dividend date was Monday, December 2nd. Sinclair’s payout ratio is -30.30%.

Analyst Upgrades and Downgrades

SBGI has been the subject of several recent analyst reports. Guggenheim raised their price target on Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Rosenblatt Securities boosted their target price on shares of Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Wells Fargo & Company raised shares of Sinclair from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $13.00 to $19.00 in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on shares of Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Finally, StockNews.com raised shares of Sinclair from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Sinclair presently has an average rating of “Hold” and an average target price of $20.10.

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.