137,933 Shares in Sinclair, Inc. (NASDAQ:SBGI) Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. purchased a new position in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 137,933 shares of the company's stock, valued at approximately $2,110,000. Point72 Asset Management L.P. owned about 0.21% of Sinclair at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. nVerses Capital LLC acquired a new position in Sinclair in the second quarter valued at approximately $28,000. GAMMA Investing LLC increased its stake in shares of Sinclair by 81.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,283 shares of the company's stock valued at $35,000 after purchasing an additional 1,026 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in Sinclair during the third quarter worth approximately $39,000. Headlands Technologies LLC grew its holdings in Sinclair by 1,039.0% in the second 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 during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Sinclair by 29.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,330 shares of the company's stock valued at $111,000 after buying an additional 1,898 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Sinclair Trading Up 2.3 %

NASDAQ SBGI traded up $0.40 on Tuesday, reaching $18.04. 88,487 shares of the company were exchanged, compared to its average volume of 401,108. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. The business's fifty day moving average price is $16.95 and its 200 day moving average price is $14.71. The stock has a market capitalization of $1.20 billion, a P/E ratio of -5.35, a price-to-earnings-growth ratio of 0.16 and a beta of 1.55. Sinclair, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $18.45.

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, beating the consensus estimate of $0.89 by $0.54. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The firm had revenue of $917.00 million for the quarter, compared to analysts' expectations of $923.02 million. During the same quarter in the previous year, the company posted ($0.30) EPS. The company's revenue was up 19.6% compared to the same quarter last year. Analysts forecast that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.54%. Sinclair's payout ratio is currently -30.30%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SBGI. StockNews.com upgraded shares of Sinclair from a "sell" rating to a "hold" rating in a research report on Saturday, September 28th. Benchmark boosted their price objective on Sinclair from $29.00 to $30.00 and gave the stock a "buy" rating in a research note on Monday, September 23rd. Rosenblatt Securities raised their target price on Sinclair from $16.40 to $16.50 and gave the company a "neutral" rating in a research report on Friday, September 20th. Guggenheim boosted their price target on Sinclair from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company raised Sinclair from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $13.00 to $19.00 in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $20.10.

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.