American Century Companies Inc. Decreases Position in Sinclair, Inc. $SBGI

Key Points

• American Century Companies Inc. has decreased its holdings in Sinclair, Inc. by 36.2%, selling 26,409 shares and now owning a total of 46,599 shares valued at approximately $742,000.
• Sinclair recently announced a quarterly dividend of $0.25 per share, yielding 7.1%, with the dividend payout ratio currently at 120.48%.
• Analysts have mixed opinions on Sinclair, with a consensus rating of "Hold" and an average target price of $18.30, while some downgraded their price objectives for the stock.

American Century Companies Inc. trimmed its position in Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 36.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,599 shares of the company's stock after selling 26,409 shares during the quarter. American Century Companies Inc. owned 0.07% of Sinclair worth $742,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Empyrean Capital Partners LP boosted its stake in shares of Sinclair by 8.0% in the 4th quarter. Empyrean Capital Partners LP now owns 1,144,493 shares of the company's stock valued at $18,472,000 after purchasing an additional 84,493 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Sinclair by 65.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 717,007 shares of the company's stock valued at $11,422,000 after buying an additional 282,400 shares during the period. Northern Trust Corp boosted its stake in Sinclair by 10.1% during 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 in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Sinclair by 52.9% during the 4th quarter. Point72 Asset Management L.P. now owns 210,939 shares of the company's stock worth $3,405,000 after purchasing an additional 73,006 shares in the last quarter. Finally, Inspire Advisors LLC grew its stake in Sinclair by 38.2% in the first quarter. Inspire Advisors LLC now owns 167,622 shares of the company's stock valued at $2,670,000 after acquiring an additional 46,367 shares during the period. Institutional investors and hedge funds own 41.71% of the company's stock.

Analysts Set New Price Targets

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

Sinclair Price Performance

SBGI traded down $0.12 on Wednesday, reaching $13.40. The company had a trading volume of 514,702 shares, compared to its average volume of 463,602. Sinclair, Inc. has a 52-week low of $11.89 and a 52-week high of $18.45. The company has a market cap of $933.31 million, a price-to-earnings ratio of 16.14 and a beta of 1.31. The company has a debt-to-equity ratio of 13.93, a quick ratio of 1.89 and a current ratio of 1.89. The business has a 50 day simple moving average of $14.35 and a 200 day simple moving average of $14.42.

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

Sinclair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date is Friday, August 29th. Sinclair's dividend payout ratio is 120.48%.

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.