JPMorgan Chase & Co. lessened its holdings in Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 66.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,851 shares of the company's stock after selling 55,944 shares during the quarter. JPMorgan Chase & Co.'s holdings in Sinclair were worth $426,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in SBGI. GAMMA Investing LLC boosted its stake in shares of Sinclair by 81.6% during 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 in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Sinclair in the 3rd quarter valued at approximately $39,000. nVerses Capital LLC lifted its stake 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 buying an additional 1,500 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Sinclair in the 3rd quarter valued at approximately $91,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Sinclair in the 3rd quarter valued at approximately $121,000. Hedge funds and other institutional investors own 41.71% of the company's stock.
Sinclair Trading Up 0.5 %
Shares of SBGI stock traded up $0.08 on Thursday, reaching $14.72. 141,537 shares of the stock were exchanged, compared to its average volume of 213,439. The firm has a 50 day moving average of $16.46 and a two-hundred day moving average of $15.55. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. Sinclair, Inc. has a 1-year low of $11.13 and a 1-year high of $18.45. The stock has a market cap of $977.70 million, a P/E ratio of -4.46 and a beta of 1.57.
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, topping analysts' consensus estimates of $0.89 by $0.54. The firm 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 was up 19.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.30) EPS. On average, research analysts anticipate that Sinclair, Inc. will post 4.24 EPS for the current year.
Sinclair Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 6.79%. Sinclair's payout ratio is currently -30.30%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Sinclair from $14.00 to $16.00 and gave the company an "underweight" rating in a research note on Tuesday, November 12th. Guggenheim boosted 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. Benchmark reiterated a "buy" rating and issued a $30.00 price target on shares of Sinclair in a report on Tuesday. Finally, Wells Fargo & Company upgraded Sinclair from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $13.00 to $19.00 in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $20.10.
Read Our Latest Report on SBGI
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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