Aristeia Capital L.L.C. Buys 27,782 Shares of Sinclair, Inc. $SBGI

Key Points

• Aristeia Capital L.L.C. increased its stake in Sinclair, Inc. by 158.8% during the first quarter, acquiring an additional 27,782 shares for a total ownership of 0.07% valued at $721,000.
• Several institutional investors have also adjusted their positions, with holdings in Sinclair now constituting 41.71% of the stock.
• Analysts have lowered price targets for Sinclair, with consensus at $18.30, while the stock reflects mixed ratings with two "Buy," three "Hold," and one "Sell."

Aristeia Capital L.L.C. lifted its stake in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 158.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,276 shares of the company's stock after purchasing an additional 27,782 shares during the quarter. Aristeia Capital L.L.C. owned about 0.07% of Sinclair worth $721,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SBGI. DekaBank Deutsche Girozentrale bought a new position in shares of Sinclair during the 1st quarter worth about $58,000. NBC Securities Inc. boosted its position in shares of Sinclair by 105,075.0% during the 1st quarter. NBC Securities Inc. now owns 4,207 shares of the company's stock worth $67,000 after purchasing an additional 4,203 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Sinclair by 71.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 4,937 shares of the company's stock worth $79,000 after purchasing an additional 2,058 shares in the last quarter. State of Wyoming bought a new position in shares of Sinclair during the 1st quarter worth about $119,000. Finally, Central Pacific Bank Trust Division boosted its position in shares of 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 purchasing an additional 3,500 shares in the last quarter. Institutional investors own 41.71% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Guggenheim cut their price objective on shares of Sinclair from $20.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, August 14th. Benchmark lowered their target price on shares of Sinclair from $29.00 to $27.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. JPMorgan Chase & Co. lowered their target price on shares of Sinclair from $14.00 to $13.00 and set an "underweight" rating on the stock in a report on Wednesday, May 21st. Zacks Research upgraded shares of Sinclair to a "hold" rating in a report on Thursday, August 21st. Finally, Wells Fargo & Company lowered their target price on shares of Sinclair from $17.00 to $16.00 and set an "equal weight" rating on the stock in a report 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.com, Sinclair currently has an average rating of "Hold" and an average price target of $18.30.

Sinclair Stock Up 0.1%

NASDAQ:SBGI traded up $0.01 on Friday, hitting $13.95. The stock had a trading volume of 435,432 shares, compared to its average volume of 423,019. 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 stock has a market cap of $971.58 million, a P/E ratio of 16.81 and a beta of 1.31. Sinclair, Inc. has a 1 year low of $11.89 and a 1 year high of $18.45. The firm's fifty day simple moving average is $14.34 and its two-hundred day simple moving average is $14.41.

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

Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $0.25 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.00 annualized dividend and a yield of 7.2%. Sinclair's dividend payout ratio (DPR) is 120.48%.

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.