54,589 Shares in Sinclair, Inc. (NASDAQ:SBGI) Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets bought a new position in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 54,589 shares of the company's stock, valued at approximately $881,000. BNP Paribas Financial Markets owned about 0.08% of Sinclair as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New York State Common Retirement Fund grew its holdings in Sinclair by 29.4% during the 4th quarter. New York State Common Retirement Fund now owns 7,480 shares of the company's stock worth $121,000 after acquiring an additional 1,700 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Sinclair by 5.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,500 shares of the company's stock worth $590,000 after acquiring an additional 2,035 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Sinclair by 8.5% during the fourth quarter. Wells Fargo & Company MN now owns 33,548 shares of the company's stock worth $541,000 after purchasing an additional 2,620 shares in the last quarter. Federated Hermes Inc. acquired a new position in shares of Sinclair during the fourth quarter worth approximately $47,000. Finally, Barclays PLC grew its stake in shares of Sinclair by 6.9% during the fourth quarter. Barclays PLC now owns 57,974 shares of the company's stock valued at $935,000 after purchasing an additional 3,745 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBGI has been the subject of several research analyst reports. Benchmark dropped their price objective on shares of Sinclair from $30.00 to $29.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Wells Fargo & Company cut their price target on Sinclair from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. Guggenheim reiterated a "buy" rating on shares of Sinclair in a report on Thursday, May 15th. Wall Street Zen cut Sinclair from a "hold" rating to a "sell" rating in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. cut their target price on shares of Sinclair from $14.00 to $13.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $18.50.

Insider Activity

In other news, Chairman David D. Smith acquired 30,296 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $14.09 per share, for a total transaction of $426,870.64. Following the completion of the acquisition, the chairman now owns 728,986 shares in the company, valued at $10,271,412.74. This represents a 4.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have bought a total of 458,530 shares of company stock worth $6,636,392 over the last three months. Corporate insiders own 41.90% of the company's stock.

Sinclair Trading Up 1.6%

Shares of SBGI stock traded up $0.23 during trading hours on Tuesday, reaching $14.36. The company had a trading volume of 276,495 shares, compared to its average volume of 350,943. Sinclair, Inc. has a 1-year low of $11.13 and a 1-year high of $18.46. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. The firm has a market cap of $999.05 million, a price-to-earnings ratio of -4.35 and a beta of 1.36. The company has a 50 day moving average of $14.83 and a 200 day moving average of $15.44.

Sinclair (NASDAQ:SBGI - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($2.18) earnings per share for the quarter, missing the consensus estimate of ($1.78) by ($0.40). Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The company had revenue of $776.00 million during the quarter, compared to analyst estimates of $774.79 million. During the same period in the previous year, the company posted $0.35 EPS. The company's quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a $0.25 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.96%. Sinclair's dividend payout ratio is 49.75%.

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.