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Barclays PLC Buys 42,887 Shares of Sinclair, Inc. (NASDAQ:SBGI)

Sinclair logo with Consumer Discretionary background

Barclays PLC grew its position in Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 378.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,229 shares of the company's stock after acquiring an additional 42,887 shares during the quarter. Barclays PLC owned 0.08% of Sinclair worth $831,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SBGI. GAMMA Investing LLC increased its stake in Sinclair by 81.6% in the third quarter. GAMMA Investing LLC now owns 2,283 shares of the company's stock valued at $35,000 after acquiring an additional 1,026 shares during the period. nVerses Capital LLC grew its stake in shares of 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Sinclair by 29.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,330 shares of the company's stock valued at $111,000 after purchasing an additional 1,898 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of Sinclair in the 3rd quarter worth approximately $39,000. Finally, Principal Financial Group Inc. lifted its position in shares of Sinclair by 14.0% during the 2nd quarter. Principal Financial Group Inc. now owns 23,248 shares of the company's stock worth $310,000 after buying an additional 2,847 shares during the period. Institutional investors and hedge funds own 41.71% of the company's stock.

Wall Street Analysts Forecast Growth

SBGI has been the topic of a number of analyst reports. Rosenblatt Securities upped their price target on Sinclair from $16.40 to $16.50 and gave the company a "neutral" rating in a research report on Friday, September 20th. StockNews.com upgraded shares of Sinclair from a "sell" rating to a "hold" rating in a research report on Saturday, September 28th. Guggenheim lifted their price target on shares of Sinclair from $18.00 to $19.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. Benchmark upped their price objective on shares of Sinclair from $29.00 to $30.00 and gave the stock a "buy" rating in a research note on Monday, September 23rd. Finally, Wells Fargo & Company upgraded shares of Sinclair from an "underweight" rating to an "equal weight" rating and lifted their target price 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $20.10.

View Our Latest Research Report on SBGI

Sinclair Trading Up 3.3 %

Shares of NASDAQ SBGI traded up $0.51 during midday trading on Wednesday, hitting $16.14. The stock had a trading volume of 236,221 shares, compared to its average volume of 392,884. The firm has a market cap of $1.07 billion, a P/E ratio of -4.89, a price-to-earnings-growth ratio of 0.15 and a beta of 1.55. Sinclair, Inc. has a fifty-two week low of $11.13 and a fifty-two week 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. The company's 50-day simple moving average is $16.89 and its 200 day simple moving average is $15.17.

Sinclair (NASDAQ:SBGI - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $923.02 million. During the same period last year, the company earned ($0.30) earnings per share. The company's revenue was up 19.6% on a year-over-year basis. Research analysts anticipate 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 issued a $0.25 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 6.20%. Sinclair's dividend payout ratio is currently -30.30%.

About Sinclair

(Free Report)

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.

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Institutional Ownership by Quarter for Sinclair (NASDAQ:SBGI)

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