Charles Schwab Investment Management Inc. Has $7.02 Million Stock Holdings in Sinclair, Inc. (NASDAQ:SBGI)

Charles Schwab Investment Management Inc. lowered its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 22.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 434,607 shares of the company's stock after selling 128,914 shares during the period. Charles Schwab Investment Management Inc. owned 0.65% of Sinclair worth $7,015,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Sinclair by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 826,949 shares of the company's stock worth $12,655,000 after acquiring an additional 15,263 shares during the period. Empowered Funds LLC lifted its holdings in Sinclair by 5.1% during the 4th quarter. Empowered Funds LLC now owns 243,973 shares of the company's stock valued at $3,938,000 after purchasing an additional 11,883 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Sinclair during the third quarter worth $2,110,000. Segall Bryant & Hamill LLC acquired a new position in shares of Sinclair in the third quarter valued at $1,605,000. Finally, Rhumbline Advisers raised its position in shares of Sinclair by 56.3% in the fourth quarter. Rhumbline Advisers now owns 86,072 shares of the company's stock valued at $1,389,000 after purchasing an additional 31,015 shares during the period. Institutional investors and hedge funds own 41.71% of the company's stock.

Analyst Upgrades and Downgrades

SBGI has been the subject of several research analyst reports. StockNews.com downgraded shares of Sinclair from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Guggenheim reduced their price objective on Sinclair from $19.00 to $17.00 and set a "buy" rating for the company in a report on Monday, March 10th. Wells Fargo & Company lowered their target price on Sinclair from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. Finally, Benchmark reissued a "buy" rating and set a $30.00 price target on shares of Sinclair in a report on Tuesday, January 28th. One equities research 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $19.30.

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Sinclair Stock Performance

Shares of SBGI traded down $1.10 during mid-day trading on Thursday, hitting $15.67. 330,858 shares of the company's stock were exchanged, compared to its average volume of 341,444. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. Sinclair, Inc. has a 52 week low of $11.13 and a 52 week high of $18.46. The stock's 50-day simple moving average is $14.89 and its 200-day simple moving average is $15.82. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -4.75 and a beta of 1.50.

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

Sinclair Announces Dividend

The company 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 6.38%. Sinclair's payout ratio is 21.46%.

Insider Transactions at Sinclair

In other Sinclair news, Chairman David D. Smith bought 30,296 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was purchased at an average cost of $14.09 per share, for a total transaction of $426,870.64. Following the completion of the purchase, the chairman now directly 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 acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders bought 262,541 shares of company stock valued at $3,844,778. Company 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.