Goldman Sachs Group Inc. Has $4.83 Million Stock Position in Sinclair, Inc. $SBGI

Key Points

• Goldman Sachs sold 321,954 shares of Sinclair, Inc., reducing its stake by 51.5%, and now holds approximately 0.44% worth about $4.83 million.
• Sinclair's recent earnings report showed a loss of ($0.91) EPS, missing analysts' estimates, with revenues down 5.4% year-over-year.
• The company declared a quarterly dividend of $0.25, resulting in an annualized yield of 7.2%, despite a high dividend payout ratio of 120.48%.

Goldman Sachs Group Inc. lowered its position in Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 51.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 303,369 shares of the company's stock after selling 321,954 shares during the period. Goldman Sachs Group Inc. owned 0.44% of Sinclair worth $4,833,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL increased its holdings in Sinclair by 1.0% in the first quarter. Gamco Investors INC. ET AL now owns 3,740,387 shares of the company's stock worth $59,584,000 after buying an additional 36,105 shares during the last quarter. Gabelli Funds LLC boosted its position in Sinclair by 0.4% during the first quarter. Gabelli Funds LLC now owns 1,153,354 shares of the company's stock worth $18,373,000 after purchasing an additional 4,854 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Sinclair by 65.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 717,007 shares of the company's stock worth $11,422,000 after purchasing an additional 282,400 shares during the period. Bridgeway Capital Management LLC boosted its position in Sinclair by 1.5% during the first quarter. Bridgeway Capital Management LLC now owns 536,689 shares of the company's stock worth $8,549,000 after purchasing an additional 7,970 shares during the period. Finally, Northern Trust Corp boosted its position 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 purchasing an additional 34,423 shares during the period. Institutional investors and hedge funds own 41.71% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SBGI shares. Benchmark decreased their target price on Sinclair from $29.00 to $27.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Wells Fargo & Company reduced their price objective on Sinclair from $17.00 to $16.00 and set an "equal weight" rating for the company in a research report on Thursday, August 7th. Guggenheim reduced their price objective on Sinclair from $20.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, August 14th. Finally, Zacks Research raised Sinclair to a "hold" rating in a research report on Thursday, August 21st. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $18.75.

Sinclair Price Performance

Shares of NASDAQ SBGI traded down $0.23 during midday trading on Friday, reaching $14.13. 1,272,900 shares of the company traded hands, compared to its average volume of 408,873. The firm has a market cap of $984.15 million, a PE ratio of 17.02 and a beta of 1.31. The stock's 50-day simple moving average is $14.23 and its 200-day simple moving average is $14.41. Sinclair, Inc. has a 12 month low of $11.89 and a 12 month high of $18.45. The company has a debt-to-equity ratio of 13.93, a quick ratio of 1.89 and a current ratio of 1.89.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued 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). The company had revenue of $784.00 million for the quarter, compared to the consensus estimate of $798.16 million. Sinclair had a net margin of 1.44% and a return on equity of 12.51%. The firm's revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 earnings per share. As a group, equities analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.25 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.1%. 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.