GABELLI & Co INVESTMENT ADVISERS INC. Buys 27,425 Shares of Sinclair, Inc. (NASDAQ:SBGI)

GABELLI & Co INVESTMENT ADVISERS INC. raised its position in Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 223.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 39,725 shares of the company's stock after buying an additional 27,425 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. owned about 0.06% of Sinclair worth $641,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Sinclair by 26.9% in the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company's stock valued at $47,000 after buying an additional 613 shares in the last quarter. Federated Hermes Inc. acquired a new stake in Sinclair in the 4th quarter valued at about $47,000. New York State Common Retirement Fund lifted its stake in Sinclair by 29.4% in the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company's stock worth $121,000 after acquiring an additional 1,700 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Sinclair during the fourth quarter worth $123,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Sinclair in the 4th quarter valued at about $194,000. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Benchmark reissued a "buy" rating and set a $30.00 price objective on shares of Sinclair in a report on Tuesday, January 28th. Guggenheim dropped their price objective on Sinclair from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Wells Fargo & Company decreased their target price on Sinclair from $19.00 to $17.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. Finally, StockNews.com downgraded shares of Sinclair from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $19.30.

Sinclair Stock Up 1.1 %

Shares of NASDAQ:SBGI traded up $0.15 during mid-day trading on Friday, hitting $14.14. 256,201 shares of the company traded hands, compared to its average volume of 356,672. The firm has a market cap of $939.87 million, a P/E ratio of -4.28 and a beta of 1.29. Sinclair, Inc. has a 52-week low of $11.13 and a 52-week high of $18.46. The firm's 50 day simple moving average is $14.79 and its 200 day simple moving average is $15.83. 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 released its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, topping 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 business had revenue of $1 billion for the quarter, compared to analysts' expectations of $1.01 billion. On average, equities analysts anticipate that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were given a $0.25 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.00 annualized dividend and a dividend yield of 7.07%. Sinclair's dividend payout ratio (DPR) is presently 21.46%.

Insider Activity at Sinclair

In other news, Chairman David D. Smith purchased 63,073 shares of Sinclair stock in a transaction dated Wednesday, April 9th. The stock was acquired at an average cost of $12.91 per share, for a total transaction of $814,272.43. Following the acquisition, the chairman now directly owns 1,526,029 shares in the company, valued at $19,701,034.39. This represents a 4.31 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have acquired 458,530 shares of company stock valued at $6,636,392. Company insiders own 46.60% of the company's stock.

Sinclair Company 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.