Thrivent Financial for Lutherans Sells 18,511 Shares of Sinclair, Inc. (NASDAQ:SBGI)

Thrivent Financial for Lutherans decreased its holdings in Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 56.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,118 shares of the company's stock after selling 18,511 shares during the period. Thrivent Financial for Lutherans' holdings in Sinclair were worth $228,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Sinclair by 1.9% in the third quarter. Geode Capital Management LLC now owns 826,949 shares of the company's stock valued at $12,655,000 after purchasing an additional 15,263 shares during the period. Empowered Funds LLC grew its stake in shares of Sinclair by 5.1% during the 4th quarter. Empowered Funds LLC now owns 243,973 shares of the company's stock worth $3,938,000 after purchasing an additional 11,883 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Sinclair in the third quarter valued at $2,110,000. Inspire Advisors LLC raised its holdings in shares of Sinclair by 6.3% in the fourth quarter. Inspire Advisors LLC now owns 121,255 shares of the company's stock worth $1,957,000 after acquiring an additional 7,207 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Sinclair by 56.3% during the fourth quarter. Rhumbline Advisers now owns 86,072 shares of the company's stock worth $1,389,000 after purchasing an additional 31,015 shares during the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

Sinclair Stock Performance

SBGI traded up $0.77 on Wednesday, hitting $14.14. The company had a trading volume of 706,748 shares, compared to its average volume of 353,277. The stock has a market cap of $939.87 million, a price-to-earnings ratio of -4.28 and a beta of 1.29. Sinclair, Inc. has a 1-year low of $11.13 and a 1-year high of $18.46. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. The company's fifty day moving average price is $14.88 and its 200 day moving average price is $15.88.

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

Sinclair Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insider Transactions at Sinclair

In other news, Chairman David D. Smith bought 7,719 shares of the business's stock in a transaction on Monday, April 7th. The shares were bought at an average cost of $13.20 per share, for a total transaction of $101,890.80. Following the completion of the acquisition, the chairman now owns 1,340,884 shares in the company, valued at approximately $17,699,668.80. This trade represents a 0.58 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought a total of 395,457 shares of company stock worth $5,822,120 over the last 90 days. 46.60% of the stock is owned by 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.