Alden Global Capital LLC Sells 740,021 Shares of Sinclair, Inc. (NASDAQ:SBGI)

Alden Global Capital LLC reduced its position in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 89.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,947 shares of the company's stock after selling 740,021 shares during the period. Sinclair accounts for approximately 1.3% of Alden Global Capital LLC's portfolio, making the stock its 21st largest position. Alden Global Capital LLC owned 0.13% of Sinclair worth $1,355,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Sinclair by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 3,714,036 shares of the company's stock worth $59,945,000 after buying an additional 64,683 shares during the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of Sinclair by 1.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 3,704,282 shares of the company's stock valued at $59,787,000 after purchasing an additional 55,350 shares during the last quarter. Northern Trust Corp grew its stake in shares of Sinclair by 10.1% in the fourth quarter. Northern Trust Corp now owns 374,783 shares of the company's stock worth $6,049,000 after acquiring an additional 34,423 shares during the last quarter. Empowered Funds LLC grew its position in Sinclair by 5.1% during the 4th quarter. Empowered Funds LLC now owns 243,973 shares of the company's stock valued at $3,938,000 after purchasing an additional 11,883 shares during the last quarter. Finally, Inspire Advisors LLC increased its position in shares of Sinclair by 6.3% during the fourth quarter. Inspire Advisors LLC now owns 121,255 shares of the company's stock valued at $1,957,000 after acquiring an additional 7,207 shares in the last quarter. 41.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SBGI shares. Benchmark restated a "buy" rating and set a $30.00 price objective on shares of Sinclair in a research report on Tuesday, January 28th. Wells Fargo & Company dropped their price target on shares of Sinclair from $19.00 to $17.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. Guggenheim decreased 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, StockNews.com downgraded shares of Sinclair from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. 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 stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $19.30.

Sinclair Trading Down 0.1 %

SBGI traded down $0.01 during trading on Monday, reaching $15.31. The company had a trading volume of 317,752 shares, compared to its average volume of 359,630. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. Sinclair, Inc. has a 52 week low of $11.13 and a 52 week high of $18.46. The stock has a market cap of $1.02 billion, a P/E ratio of -4.64 and a beta of 1.29. The business has a 50 day simple moving average of $14.73 and a 200-day simple moving average of $15.65.

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

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.53%. The ex-dividend date was Monday, March 10th. Sinclair's payout ratio is presently 21.46%.

Insider Buying and Selling

In related news, Chairman David D. Smith purchased 63,073 shares of the firm's stock in a transaction dated Wednesday, April 9th. The stock was purchased at an average price of $12.91 per share, with a total value of $814,272.43. Following the completion of the purchase, the chairman now owns 1,526,029 shares of the company's stock, valued at approximately $19,701,034.39. The trade was a 4.31 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have purchased 458,530 shares of company stock valued at $6,636,392 in the last 90 days. Company insiders own 46.60% of the company's stock.

About Sinclair

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.