Goldman Sachs Group Inc. Sells 321,954 Shares of Sinclair, Inc. $SBGI

Goldman Sachs Group Inc. trimmed its position in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 51.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 303,369 shares of the company's stock after selling 321,954 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.44% of Sinclair worth $4,833,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its stake in Sinclair by 134.7% during the first quarter. Acadian Asset Management LLC now owns 11,525 shares of the company's stock worth $182,000 after buying an additional 6,615 shares during the last quarter. Empowered Funds LLC grew its stake in Sinclair by 3.3% during the first quarter. Empowered Funds LLC now owns 251,943 shares of the company's stock worth $4,013,000 after buying an additional 7,970 shares during the last quarter. Aristeia Capital L.L.C. grew its stake in Sinclair by 158.8% during the first quarter. Aristeia Capital L.L.C. now owns 45,276 shares of the company's stock worth $721,000 after buying an additional 27,782 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Sinclair by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,082 shares of the company's stock worth $304,000 after buying an additional 780 shares during the last quarter. Finally, Cinctive Capital Management LP bought a new stake in Sinclair during the first quarter worth about $1,058,000. 41.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SBGI shares. JPMorgan Chase & Co. decreased their price objective on shares of Sinclair from $14.00 to $13.00 and set an "underweight" rating on the stock in a research note on Wednesday, May 21st. Zacks Research raised shares of Sinclair to a "hold" rating in a research note on Thursday, August 21st. Benchmark decreased their price objective on shares of Sinclair from $29.00 to $27.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Wells Fargo & Company decreased their price objective on shares of Sinclair from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 7th. Finally, Guggenheim decreased their price target on shares of Sinclair from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, August 14th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $18.30.

Sinclair Price Performance

SBGI opened at $13.94 on Wednesday. Sinclair, Inc. has a one year low of $11.89 and a one year high of $18.45. The company has a debt-to-equity ratio of 13.93, a current ratio of 1.89 and a quick ratio of 1.89. The company's 50 day simple moving average is $14.29 and its 200-day simple moving average is $14.40. The stock has a market capitalization of $970.92 million, a P/E ratio of 16.80 and a beta of 1.31.

Sinclair (NASDAQ:SBGI - Get Free Report) last released 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 company had revenue of $784.00 million for the quarter, compared to the consensus estimate of $798.16 million. During the same period last year, the company earned $0.27 earnings per share. Sinclair's revenue for the quarter was down 5.4% compared to the same quarter last year. Sell-side analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

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

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.

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