Vanguard Group Inc. Increases Stock Position in Sinclair, Inc. (NASDAQ:SBGI)

Vanguard Group Inc. lifted its position in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,714,036 shares of the company's stock after purchasing an additional 64,683 shares during the period. Vanguard Group Inc. owned about 5.59% of Sinclair worth $59,945,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SBGI. Geode Capital Management LLC increased its position in Sinclair by 1.9% during the third quarter. Geode Capital Management LLC now owns 826,949 shares of the company's stock worth $12,655,000 after buying an additional 15,263 shares during the period. Empowered Funds LLC increased its holdings in shares of Sinclair by 5.1% in the 4th quarter. Empowered Funds LLC now owns 243,973 shares of the company's stock valued at $3,938,000 after acquiring an additional 11,883 shares during the period. Inspire Advisors LLC raised its position in Sinclair by 6.3% in the 4th quarter. Inspire Advisors LLC now owns 121,255 shares of the company's stock valued at $1,957,000 after purchasing an additional 7,207 shares during the last quarter. LPL Financial LLC raised its position in Sinclair by 10.8% in the 4th quarter. LPL Financial LLC now owns 95,260 shares of the company's stock valued at $1,538,000 after purchasing an additional 9,295 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in Sinclair by 56.3% during the 4th 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 period. 41.71% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Sinclair

In other news, Chairman David D. Smith acquired 63,073 shares of Sinclair stock in a transaction that occurred on Wednesday, April 9th. The stock was purchased at an average cost of $12.91 per share, with a total value of $814,272.43. Following the completion of the acquisition, the chairman now owns 1,526,029 shares in the company, valued at $19,701,034.39. This trade represents a 4.31 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders purchased 458,530 shares of company stock valued at $6,636,392. Corporate insiders own 46.60% of the company's stock.

Analyst Upgrades and Downgrades

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

Sinclair Stock Performance

SBGI traded down $0.02 during trading on Tuesday, reaching $14.38. The company's stock had a trading volume of 330,342 shares, compared to its average volume of 356,475. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. The company's fifty day moving average price is $14.82 and its 200-day moving average price is $15.87. Sinclair, Inc. has a 52-week low of $11.13 and a 52-week high of $18.46. The company has a market capitalization of $955.82 million, a price-to-earnings ratio of -4.36 and a beta of 1.29.

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

Sinclair Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.00 annualized dividend and a yield of 6.95%. Sinclair's payout ratio is currently 21.46%.

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.