Segall Bryant & Hamill LLC Makes New $1.61 Million Investment in Sinclair, Inc. (NASDAQ:SBGI)

Segall Bryant & Hamill LLC acquired a new stake in Sinclair, Inc. (NASDAQ:SBGI - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 104,931 shares of the company's stock, valued at approximately $1,605,000. Segall Bryant & Hamill LLC owned approximately 0.16% of Sinclair as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of SBGI. Empyrean Capital Partners LP purchased a new position in Sinclair during the second quarter valued at $2,873,000. Inspire Advisors LLC purchased a new position in Sinclair in the 2nd quarter valued at about $1,552,000. Alden Global Capital LLC boosted its holdings in Sinclair by 10.5% in the 2nd quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company's stock worth $16,341,000 after buying an additional 116,074 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Sinclair by 52.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 114,864 shares of the company's stock worth $1,549,000 after buying an additional 39,624 shares in the last quarter. Finally, ARS Investment Partners LLC acquired a new position in shares of Sinclair during the second quarter valued at approximately $309,000. Institutional investors and hedge funds own 41.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SBGI. Benchmark upped their target price on shares of Sinclair from $29.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. Wells Fargo & Company raised shares of Sinclair from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $13.00 to $19.00 in a research note on Thursday, November 7th. Guggenheim raised their target price on shares of Sinclair from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Rosenblatt Securities upped their price target on Sinclair from $16.40 to $16.50 and gave the company a "neutral" rating in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. increased their price target on Sinclair from $14.00 to $16.00 and gave the company an "underweight" rating in a report on Tuesday, November 12th. One investment 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. Based on data from MarketBeat.com, Sinclair currently has an average rating of "Hold" and an average target price of $20.10.

Sinclair Stock Up 0.7 %

NASDAQ SBGI traded up $0.12 during trading hours on Friday, hitting $17.29. 244,764 shares of the company were exchanged, compared to its average volume of 338,068. The company has a 50 day moving average of $16.21 and a two-hundred day moving average of $14.43. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -5.24, a PEG ratio of 0.15 and a beta of 1.53. Sinclair, Inc. has a 52-week low of $11.13 and a 52-week high of $18.20.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.54. The firm had revenue of $917.00 million during the quarter, compared to the consensus estimate of $923.02 million. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The company's revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.30) earnings per share. Equities research analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 5.78%. Sinclair's dividend payout ratio is currently -30.30%.

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.