Sinclair, Inc. (NASDAQ:SBGI) Holdings Lifted by Alden Global Capital LLC

Alden Global Capital LLC lifted its stake in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 10.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,225,868 shares of the company's stock after purchasing an additional 116,074 shares during the quarter. Sinclair comprises approximately 13.5% of Alden Global Capital LLC's portfolio, making the stock its 2nd biggest position. Alden Global Capital LLC owned about 1.85% of Sinclair worth $16,341,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Capital Management Corp VA increased its position in Sinclair by 36.7% during the 1st quarter. Capital Management Corp VA now owns 2,006,720 shares of the company's stock worth $27,031,000 after purchasing an additional 538,740 shares during the period. Inspire Advisors LLC acquired a new position in Sinclair during the second quarter worth $1,552,000. Susquehanna Fundamental Investments LLC purchased a new position in Sinclair in the first quarter worth $1,359,000. Gamco Investors INC. ET AL lifted its holdings in Sinclair by 2.4% in the first quarter. Gamco Investors INC. ET AL now owns 3,591,266 shares of the company's stock valued at $48,374,000 after acquiring an additional 85,070 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Sinclair by 4.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,889,863 shares of the company's stock worth $24,626,000 after purchasing an additional 78,793 shares in the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Rosenblatt Securities increased their price target on shares of Sinclair from $16.40 to $16.50 and gave the company a "neutral" rating in a report on Friday, September 20th. StockNews.com cut shares of Sinclair from a "hold" rating to a "sell" rating in a report on Friday, September 20th. Finally, Benchmark boosted their price target on Sinclair from $29.00 to $30.00 and gave the stock a "buy" rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Sinclair presently has an average rating of "Hold" and an average price target of $19.88.

Sinclair Stock Performance

NASDAQ SBGI remained flat at $14.77 during trading hours on Wednesday. 321,573 shares of the company were exchanged, compared to its average volume of 425,116. The company has a debt-to-equity ratio of 14.93, a quick ratio of 1.78 and a current ratio of 1.78. The business's fifty day moving average price is $13.85 and its 200-day moving average price is $13.25. Sinclair, Inc. has a 12-month low of $9.39 and a 12-month high of $17.58. The company has a market cap of $977.45 million, a PE ratio of -2.07, a PEG ratio of 0.12 and a beta of 1.54.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.40. The business had revenue of $829.00 million during the quarter, compared to analysts' expectations of $836.65 million. Sinclair had a negative net margin of 10.78% and a positive return on equity of 22.55%. The company's revenue was up 7.9% on a year-over-year basis. During the same period last year, the company posted ($1.09) EPS. Equities analysts expect that Sinclair, Inc. will post 4.57 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.77%. The ex-dividend date of this dividend was Friday, August 30th. Sinclair's dividend payout ratio is presently -14.04%.

Sinclair 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.