Dimensional Fund Advisors LP Sells 277,762 Shares of Sinclair, Inc. (NASDAQ:SBGI)

Dimensional Fund Advisors LP decreased its position in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 13.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,748,789 shares of the company's stock after selling 277,762 shares during the quarter. Dimensional Fund Advisors LP owned about 2.64% of Sinclair worth $23,308,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SBGI. nVerses Capital LLC bought a new position in shares of Sinclair during the second quarter worth $28,000. Fidelis Capital Partners LLC bought a new stake in shares of Sinclair in the first quarter worth about $49,000. EntryPoint Capital LLC raised its position in shares of Sinclair by 37.2% during the first quarter. EntryPoint Capital LLC now owns 4,001 shares of the company's stock worth $54,000 after purchasing an additional 1,085 shares during the period. Headlands Technologies LLC lifted its holdings in shares of Sinclair by 1,039.0% during the 2nd quarter. Headlands Technologies LLC now owns 4,647 shares of the company's stock valued at $62,000 after purchasing an additional 4,239 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Sinclair in the 1st quarter valued at approximately $76,000. Institutional investors own 41.71% of the company's stock.

Sinclair Stock Up 4.0 %

SBGI traded up $0.64 on Friday, hitting $16.65. 442,910 shares of the company were exchanged, compared to its average volume of 423,672. 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 stock's fifty day moving average is $13.93 and its 200-day moving average is $13.35. The company has a market cap of $1.10 billion, a PE ratio of -2.34, a PEG ratio of 0.13 and a beta of 1.55. Sinclair, Inc. has a 12 month low of $9.39 and a 12 month high of $17.58.

Sinclair (NASDAQ:SBGI - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.40. Sinclair had a positive return on equity of 22.55% and a negative net margin of 10.78%. The company had revenue of $829.00 million during the quarter, compared to the consensus estimate of $836.65 million. During the same quarter in the prior year, the firm posted ($1.09) EPS. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts predict that Sinclair, Inc. will post 4.57 EPS for the current fiscal year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.01%. Sinclair's payout ratio is -14.04%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SBGI shares. StockNews.com raised shares of Sinclair from a "sell" rating to a "hold" rating in a research note on Saturday, September 28th. Rosenblatt Securities upped their target price on shares of Sinclair from $16.40 to $16.50 and gave the stock a "neutral" rating in a research note on Friday, September 20th. Finally, Benchmark increased their price objective on Sinclair from $29.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $19.88.

About Sinclair

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.