Aquatic Capital Management LLC Makes New Investment in Sinclair, Inc. (NASDAQ:SBGI)

Aquatic Capital Management LLC bought a new position in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,809 shares of the company's stock, valued at approximately $287,000.

Other institutional investors have also recently made changes to their positions in the company. Trexquant Investment LP purchased a new stake in Sinclair in the fourth quarter worth $1,688,000. 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 period. Susquehanna Fundamental Investments LLC bought a new position in shares of Sinclair in the 4th quarter worth about $940,000. Gamco Investors INC. ET AL lifted its position in Sinclair by 1.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 3,704,282 shares of the company's stock valued at $59,787,000 after acquiring an additional 55,350 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Sinclair by 188.0% during the 4th quarter. JPMorgan Chase & Co. now owns 80,206 shares of the company's stock valued at $1,295,000 after acquiring an additional 52,355 shares during the period. Institutional investors own 41.71% of the company's stock.

Sinclair Stock Performance

Shares of SBGI opened at $15.32 on Friday. Sinclair, Inc. has a 12 month low of $11.13 and a 12 month high of $18.46. The business's fifty day simple moving average is $14.73 and its two-hundred day simple moving average is $15.67. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -4.64 and a beta of 1.29.

Sinclair (NASDAQ:SBGI - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1 billion for the quarter, compared to analysts' expectations of $1.01 billion. Research analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

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

Insider Activity at Sinclair

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on SBGI shares. Guggenheim decreased their target price on shares of Sinclair from $19.00 to $17.00 and set a "buy" rating for the company in a research note on Monday, March 10th. Wells Fargo & Company lowered their price objective 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. StockNews.com cut Sinclair from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Benchmark reaffirmed a "buy" rating and issued a $30.00 price target on shares of Sinclair in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus 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.

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