Advisors Asset Management Inc. Has $2.53 Million Stock Position in Sinclair, Inc. $SBGI

Key Points

• Advisors Asset Management Inc. increased its stake in Sinclair, Inc. by 39.9%, acquiring an additional 45,357 shares in the first quarter, bringing its total holdings to 159,036 shares valued at approximately $2.53 million.
• Research analysts have issued mixed ratings on Sinclair, with two analysts rating it as a Buy, three as Hold, and one as Sell, leading to an average consensus target price of $18.30.
• Sinclair recently announced a quarterly $0.25 dividend, representing a dividend yield of 7.2%, despite having a high dividend payout ratio of 120.48%.

Advisors Asset Management Inc. grew its position in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 39.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 159,036 shares of the company's stock after acquiring an additional 45,357 shares during the quarter. Advisors Asset Management Inc. owned 0.24% of Sinclair worth $2,533,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale bought a new stake in shares of Sinclair in the first quarter worth $58,000. NBC Securities Inc. grew its position in Sinclair by 105,075.0% in the first quarter. NBC Securities Inc. now owns 4,207 shares of the company's stock valued at $67,000 after purchasing an additional 4,203 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in Sinclair by 71.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 4,937 shares of the company's stock valued at $79,000 after buying an additional 2,058 shares during the last quarter. State of Wyoming acquired a new stake in Sinclair in the 1st quarter valued at $119,000. Finally, Central Pacific Bank Trust Division lifted its position in Sinclair by 77.8% during the 1st quarter. Central Pacific Bank Trust Division now owns 8,000 shares of the company's stock worth $127,000 after buying an additional 3,500 shares in the last quarter. 41.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SBGI shares. Wells Fargo & Company decreased their price objective on Sinclair from $17.00 to $16.00 and set an "equal weight" rating for the company in a report on Thursday, August 7th. Zacks Research upgraded Sinclair to a "hold" rating in a report on Thursday, August 21st. Guggenheim lowered their price target on Sinclair from $20.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, August 14th. Benchmark cut their price objective on Sinclair from $29.00 to $27.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. reduced their target price on Sinclair from $14.00 to $13.00 and set an "underweight" rating for the company in a research note on Wednesday, May 21st. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $18.30.

Sinclair Price Performance

Shares of SBGI stock traded up $0.01 during trading hours on Friday, reaching $13.95. The company's stock had a trading volume of 435,447 shares, compared to its average volume of 427,002. Sinclair, Inc. has a fifty-two week low of $11.89 and a fifty-two week high of $18.45. The firm's 50 day simple moving average is $14.32 and its 200-day simple moving average is $14.40. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 13.93. The company has a market capitalization of $971.62 million, a price-to-earnings ratio of 16.81 and a beta of 1.31.

Sinclair (NASDAQ:SBGI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.91) EPS for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.19). The business had revenue of $784.00 million for the quarter, compared to analyst estimates of $798.16 million. Sinclair had a return on equity of 12.51% and a net margin of 1.44%.Sinclair's quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the firm posted $0.27 EPS. Sell-side analysts forecast that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.2%. Sinclair's dividend payout ratio is 120.48%.

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.