31,396 Shares in Sinclair, Inc. (NASDAQ:SBGI) Acquired by Norges Bank

Norges Bank purchased a new position in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,396 shares of the company's stock, valued at approximately $507,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Sinclair by 26.9% during the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company's stock worth $47,000 after purchasing an additional 613 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Sinclair by 29.4% during the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company's stock worth $121,000 after purchasing an additional 1,700 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Sinclair during the fourth quarter worth approximately $123,000. EntryPoint Capital LLC bought a new stake in Sinclair in the fourth quarter valued at approximately $194,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Sinclair in the fourth quarter valued at approximately $262,000. 41.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. StockNews.com lowered Sinclair from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Benchmark reissued a "buy" rating and issued a $30.00 price objective on shares of Sinclair in a research report on Tuesday, January 28th. Wells Fargo & Company reduced their target price on shares of Sinclair from $19.00 to $17.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Finally, Guggenheim lowered their price target on shares of Sinclair from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Monday, March 10th. One research 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $19.30.

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Sinclair Stock Performance

Shares of SBGI stock traded down $0.43 on Wednesday, hitting $13.95. The company's stock had a trading volume of 107,948 shares, compared to its average volume of 355,687. Sinclair, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $18.46. The company has a market capitalization of $927.24 million, a PE ratio of -4.23 and a beta of 1.29. The stock's 50 day moving average is $14.81 and its 200-day moving average is $15.86. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91.

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

Sinclair Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.00 dividend on an annualized basis and a yield of 7.17%. Sinclair's dividend payout ratio (DPR) is presently 21.46%.

Insider Buying and Selling at Sinclair

In related news, Chairman David D. Smith purchased 30,296 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price of $14.09 per share, for a total transaction of $426,870.64. Following the completion of the transaction, the chairman now owns 728,986 shares of the company's stock, valued at approximately $10,271,412.74. This trade represents a 4.34 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders purchased 458,530 shares of company stock valued at $6,636,392 in the last three months. Corporate insiders own 46.60% of the company's stock.

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.