JPMorgan Chase & Co. Acquires 52,355 Shares of Sinclair, Inc. (NASDAQ:SBGI)

JPMorgan Chase & Co. grew its holdings in Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 188.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,206 shares of the company's stock after purchasing an additional 52,355 shares during the period. JPMorgan Chase & Co. owned about 0.12% of Sinclair worth $1,295,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SBGI. Kendall Capital Management purchased a new stake in shares of Sinclair during the fourth quarter valued at $280,000. Vanguard Group Inc. lifted its stake in Sinclair by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 3,714,036 shares of the company's stock valued at $59,945,000 after acquiring an additional 64,683 shares during the period. Rhumbline Advisers boosted its holdings in shares of Sinclair by 56.3% during the 4th quarter. Rhumbline Advisers now owns 86,072 shares of the company's stock valued at $1,389,000 after acquiring an additional 31,015 shares during the last quarter. Barclays PLC grew its stake in shares of Sinclair by 378.1% in the third quarter. Barclays PLC now owns 54,229 shares of the company's stock worth $831,000 after acquiring an additional 42,887 shares during the period. Finally, New York State Common Retirement Fund grew its stake in shares of Sinclair by 29.4% in the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company's stock worth $121,000 after acquiring an additional 1,700 shares during the period. Institutional investors own 41.71% of the company's stock.

Sinclair Trading Up 1.4 %

Shares of SBGI stock opened at $14.78 on Friday. 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 has a market cap of $982.41 million, a price-to-earnings ratio of -4.48 and a beta of 1.29. Sinclair, Inc. has a 1 year low of $11.13 and a 1 year high of $18.46. The firm has a fifty day moving average price of $14.74 and a 200-day moving average price of $15.76.

Sinclair (NASDAQ:SBGI - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.62. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. As a group, equities analysts predict that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.77%. The ex-dividend date was Monday, March 10th. Sinclair's dividend payout ratio is 21.46%.

Insiders Place Their Bets

In other news, Chairman David D. Smith purchased 63,073 shares of the company's stock in a transaction on Wednesday, April 9th. The stock was acquired at an average cost of $12.91 per share, for a total transaction of $814,272.43. Following the completion of the transaction, the chairman now directly owns 1,526,029 shares in the company, valued at $19,701,034.39. This trade represents a 4.31 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have bought 458,530 shares of company stock worth $6,636,392. Company insiders own 46.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SBGI. Wells Fargo & Company dropped their target price on shares of Sinclair from $19.00 to $17.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th. Guggenheim dropped their price target on Sinclair from $19.00 to $17.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. StockNews.com cut Sinclair from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, Benchmark reissued a "buy" rating and issued a $30.00 target price on shares of Sinclair in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $19.30.

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.

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