Charles Schwab Investment Management Inc. Boosts Stock Position in Sinclair, Inc. $SBGI

Charles Schwab Investment Management Inc. raised its stake in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 65.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 717,007 shares of the company's stock after acquiring an additional 282,400 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.08% of Sinclair worth $11,422,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale purchased a new stake in Sinclair during the 1st quarter valued at approximately $58,000. NBC Securities Inc. raised its stake in Sinclair by 105,075.0% during the 1st quarter. NBC Securities Inc. now owns 4,207 shares of the company's stock valued at $67,000 after acquiring an additional 4,203 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in Sinclair by 71.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 4,937 shares of the company's stock valued at $79,000 after acquiring an additional 2,058 shares during the last quarter. Central Pacific Bank Trust Division raised its stake in Sinclair by 77.8% during the 1st quarter. Central Pacific Bank Trust Division now owns 8,000 shares of the company's stock valued at $127,000 after acquiring an additional 3,500 shares during the last quarter. Finally, Verity Asset Management Inc. purchased a new stake in Sinclair during the 1st quarter valued at approximately $185,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on SBGI shares. Wall Street Zen downgraded Sinclair from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. JPMorgan Chase & Co. reduced their price objective on Sinclair from $14.00 to $13.00 and set an "underweight" rating for the company in a research note on Wednesday, May 21st. Benchmark reduced their price objective on Sinclair from $29.00 to $27.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Wells Fargo & Company cut their target price on Sinclair from $17.00 to $16.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. Finally, Guggenheim cut their target price on Sinclair from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $18.30.

Sinclair Stock Performance

Shares of SBGI stock opened at $14.36 on Monday. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 17.30 and a beta of 1.28. The stock has a 50 day simple moving average of $14.21 and a 200-day simple moving average of $14.47. Sinclair, Inc. has a 12-month low of $11.89 and a 12-month high of $18.45. 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 (NASDAQ:SBGI - Get Free Report) last issued its earnings results 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 return on equity of 12.51% and a net margin of 1.44%.The business had revenue of $784.00 million for the quarter, compared to analysts' expectations of $798.16 million. During the same period last year, the company posted $0.27 earnings per share. The business's quarterly revenue was down 5.4% on a year-over-year basis. On average, equities analysts forecast that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Friday, August 29th. Sinclair's dividend payout ratio (DPR) is presently 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.

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