Sinclair, Inc. (NASDAQ:SBGI) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers grew its stake in Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 56.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,072 shares of the company's stock after purchasing an additional 31,015 shares during the period. Rhumbline Advisers owned about 0.13% of Sinclair worth $1,389,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new position in shares of Sinclair in the 3rd quarter valued at $39,000. GAMMA Investing LLC raised its position in shares of Sinclair by 26.9% in the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company's stock worth $47,000 after acquiring an additional 613 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Sinclair during the 3rd quarter worth about $91,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sinclair during the 3rd quarter worth about $121,000. Finally, Quantbot Technologies LP grew its position in shares of Sinclair by 103.2% during the 3rd quarter. Quantbot Technologies LP now owns 26,365 shares of the company's stock valued at $403,000 after acquiring an additional 13,390 shares during the period. Institutional investors and hedge funds own 41.71% of the company's stock.

Sinclair Price Performance

Shares of SBGI stock traded down $0.22 during trading hours on Friday, reaching $14.40. The company had a trading volume of 404,046 shares, compared to its average volume of 241,421. Sinclair, Inc. has a 12-month low of $11.13 and a 12-month high of $18.45. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. The company has a market capitalization of $956.46 million, a price-to-earnings ratio of -4.36 and a beta of 1.50. The stock has a fifty day moving average of $15.04 and a 200-day moving average of $15.62.

Remove Ads

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

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.00 annualized dividend and a yield of 6.94%. Sinclair's payout ratio is 21.46%.

Insider Buying and Selling at Sinclair

In other news, Chairman David D. Smith purchased 30,296 shares of the stock in a transaction on Wednesday, March 5th. The stock was bought at an average price of $14.09 per share, for a total transaction of $426,870.64. Following the acquisition, the chairman now directly owns 728,986 shares of the company's stock, valued at approximately $10,271,412.74. The trade was a 4.34 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 46.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SBGI. StockNews.com downgraded Sinclair from a "buy" rating to a "hold" rating in a research report on Thursday. Benchmark reissued a "buy" rating and issued a $30.00 price target on shares of Sinclair in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upped their price objective on shares of Sinclair from $14.00 to $16.00 and gave the stock an "underweight" rating in a research report on Tuesday, November 12th. Guggenheim lifted their target price on shares of Sinclair from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company cut their target price on shares of Sinclair from $19.00 to $17.00 and set an "equal weight" rating for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $19.70.

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.