Charles Schwab Investment Management Inc. Has $11.42 Million Stock Position in Sinclair, Inc. $SBGI

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Sinclair, Inc. by 65.0%, owning a total of 717,007 shares valued at approximately $11.42 million.
• Sinclair recently reported a loss of $0.91 per share for the last quarter, which was below analysts' expectations, with revenues declining 5.4% year-over-year.
• The company announced a quarterly dividend of $0.25, resulting in an annualized dividend yield of 7.1%, despite a high dividend payout ratio of 120.48%.

Charles Schwab Investment Management Inc. increased its stake in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 65.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 717,007 shares of the company's stock after buying an additional 282,400 shares during the period. Charles Schwab Investment Management Inc. owned about 1.08% of Sinclair worth $11,422,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. acquired a new position in Sinclair during the fourth quarter worth about $395,000. Carronade Capital Management LP boosted its stake in Sinclair by 418.1% in the 4th quarter. Carronade Capital Management LP now owns 440,419 shares of the company's stock worth $7,108,000 after buying an additional 355,419 shares during the last quarter. GAMMA Investing LLC boosted its stake in Sinclair by 1,804.4% in the 1st quarter. GAMMA Investing LLC now owns 55,150 shares of the company's stock worth $879,000 after buying an additional 52,254 shares during the last quarter. Barclays PLC raised its holdings in shares of Sinclair by 6.9% in the 4th quarter. Barclays PLC now owns 57,974 shares of the company's stock worth $935,000 after purchasing an additional 3,745 shares during the period. Finally, Inspire Advisors LLC raised its holdings in shares of Sinclair by 38.2% in the 1st quarter. Inspire Advisors LLC now owns 167,622 shares of the company's stock worth $2,670,000 after purchasing an additional 46,367 shares during the period. Hedge funds and other institutional investors own 41.71% of the company's stock.

Sinclair Trading Down 1.1%

SBGI stock traded down $0.16 during mid-day trading on Friday, reaching $14.47. 517,441 shares of the stock traded hands, compared to its average volume of 688,872. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 13.93. 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 $1.01 billion, a P/E ratio of 17.43 and a beta of 1.28. The stock's fifty day moving average is $14.33 and its 200-day moving average is $14.46.

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

Sinclair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, August 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.9%. Sinclair's payout ratio is currently 120.48%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wall Street Zen downgraded Sinclair from a "hold" rating to a "sell" rating in a report on Monday, May 12th. Wells Fargo & Company reduced their price target on Sinclair from $17.00 to $16.00 and set an "equal weight" rating for the company in a report on Thursday, August 7th. Benchmark cut their price objective on Sinclair from $29.00 to $27.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. JPMorgan Chase & Co. cut 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. Finally, Zacks Research raised Sinclair to a "hold" rating in a report on Thursday, August 21st. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $18.30.

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.