Charles Schwab Investment Management Inc. Reduces Holdings in Sinclair, Inc. (NASDAQ:SBGI)

Charles Schwab Investment Management Inc. lowered its holdings in Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 19.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 563,521 shares of the company's stock after selling 132,305 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.85% of Sinclair worth $8,622,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Segall Bryant & Hamill LLC purchased a new stake in shares of Sinclair during the 3rd quarter valued at $1,605,000. Empowered Funds LLC raised its position in Sinclair by 5.4% during the third quarter. Empowered Funds LLC now owns 232,090 shares of the company's stock valued at $3,551,000 after purchasing an additional 11,792 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Sinclair during the third quarter worth about $39,000. Pinnacle Associates Ltd. lifted its stake in Sinclair by 2.3% during the third quarter. Pinnacle Associates Ltd. now owns 642,738 shares of the company's stock worth $9,834,000 after purchasing an additional 14,384 shares during the last quarter. Finally, nVerses Capital LLC boosted its holdings in shares of Sinclair by 71.4% in the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company's stock worth $55,000 after purchasing an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 41.71% of the company's stock.

Analyst Upgrades and Downgrades

SBGI has been the topic of a number of research reports. Rosenblatt Securities raised their price objective on Sinclair from $16.40 to $16.50 and gave the company a "neutral" rating in a report on Friday, September 20th. StockNews.com upgraded shares of Sinclair from a "sell" rating to a "hold" rating in a report on Saturday, September 28th. Wells Fargo & Company upgraded shares of Sinclair from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $13.00 to $19.00 in a report on Thursday, November 7th. JPMorgan Chase & Co. boosted their price objective on shares of Sinclair from $14.00 to $16.00 and gave the stock an "underweight" rating in a report on Tuesday, November 12th. Finally, Guggenheim upped their price target on shares of Sinclair from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. One 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 MarketBeat, Sinclair currently has an average rating of "Hold" and a consensus target price of $20.10.

Sinclair Trading Down 2.6 %

Shares of NASDAQ:SBGI traded down $0.47 during trading on Wednesday, reaching $17.83. 275,992 shares of the company traded hands, compared to its average volume of 401,136. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -5.55, a P/E/G ratio of 0.16 and a beta of 1.55. Sinclair, Inc. has a 52-week low of $11.13 and a 52-week high of $18.45. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. The business's fifty day moving average is $16.95 and its 200-day moving average is $14.71.

Sinclair (NASDAQ:SBGI - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.54. The business 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 revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.30) EPS. As a group, analysts forecast that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.61%. Sinclair's dividend payout ratio is currently -30.30%.

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.