XTX Topco Ltd Purchases Shares of 25,148 Sinclair, Inc. (NASDAQ:SBGI)

XTX Topco Ltd bought a new position in Sinclair, Inc. (NASDAQ:SBGI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 25,148 shares of the company's stock, valued at approximately $406,000.

A number of other large investors also recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in shares of Sinclair by 26.9% in the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company's stock valued at $47,000 after purchasing an additional 613 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of Sinclair in the 4th quarter valued at $47,000. New York State Common Retirement Fund raised its position in shares of Sinclair by 29.4% during 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 valued at $123,000. Finally, EntryPoint Capital LLC bought a new position in Sinclair in the fourth quarter valued at about $194,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Sinclair Trading Up 1.4 %

Shares of NASDAQ:SBGI traded up $0.21 during mid-day trading on Friday, reaching $14.78. The stock had a trading volume of 233,826 shares, compared to its average volume of 357,070. The firm has a market cap of $982.41 million, a PE ratio of -4.48 and a beta of 1.29. The firm has a 50 day simple moving average of $14.74 and a two-hundred day simple moving average of $15.77. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. Sinclair, Inc. has a twelve month low of $11.13 and a twelve month high of $18.46.

Sinclair (NASDAQ:SBGI - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $1 billion for the quarter, compared to analysts' expectations of $1.01 billion. On average, research analysts predict that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Announces Dividend

The firm also recently declared 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 6.77%. The ex-dividend date was Monday, March 10th. Sinclair's dividend payout ratio is currently 21.46%.

Insider Activity

In related news, Chairman David D. Smith bought 30,296 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $14.09 per share, for a total transaction of $426,870.64. Following the acquisition, the chairman now owns 728,986 shares of the company's stock, valued at approximately $10,271,412.74. This represents a 4.34 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have acquired 458,530 shares of company stock worth $6,636,392 in the last 90 days. Corporate insiders own 46.60% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wells Fargo & Company dropped their price objective on Sinclair from $19.00 to $17.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Guggenheim cut their price objective on shares of Sinclair from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Monday, March 10th. StockNews.com cut shares of Sinclair from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Benchmark reiterated a "buy" rating and set a $30.00 target price on shares of Sinclair in a research 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 given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $19.30.

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.