Sinclair, Inc. (NASDAQ:SBGI) Shares Acquired by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL raised its holdings in Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,704,282 shares of the company's stock after acquiring an additional 55,350 shares during the quarter. Gamco Investors INC. ET AL owned 5.58% of Sinclair worth $59,787,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake 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 purchasing an additional 613 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Sinclair by 29.4% in the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company's stock valued at $121,000 after buying an additional 1,700 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Sinclair by 8.5% in the fourth quarter. Wells Fargo & Company MN now owns 33,548 shares of the company's stock valued at $541,000 after buying an additional 2,620 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Sinclair during the fourth quarter valued at approximately $47,000. Finally, Barclays PLC boosted its position in Sinclair by 6.9% during the fourth quarter. Barclays PLC now owns 57,974 shares of the company's stock worth $935,000 after acquiring an additional 3,745 shares during the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Sinclair Stock Up 1.1 %

Shares of NASDAQ:SBGI traded up $0.15 during midday trading on Friday, hitting $14.14. 256,201 shares of the company's stock traded hands, compared to its average volume of 356,717. The firm's fifty day moving average price is $14.78 and its two-hundred day moving average price 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, Inc. has a twelve month low of $11.13 and a twelve month high of $18.46. The company has a market cap of $939.87 million, a PE ratio of -4.28 and a beta of 1.29.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.62. The company had revenue of $1 billion during the quarter, compared to the consensus estimate 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 anticipate that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Dividend Announcement

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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.07%. The ex-dividend date of this dividend was Monday, March 10th. Sinclair's payout ratio is 21.46%.

Insider Buying and Selling

In related news, Chairman David D. Smith purchased 63,073 shares of Sinclair stock in a transaction dated Wednesday, April 9th. The shares were acquired at an average price of $12.91 per share, with a total value of $814,272.43. Following the completion of the transaction, the chairman now owns 1,526,029 shares of the company's stock, valued at approximately $19,701,034.39. This trade represents a 4.31 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have acquired 458,530 shares of company stock worth $6,636,392. 46.60% of the stock is currently owned by corporate insiders.

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.