Inspire Advisors LLC Purchases 46,367 Shares of Sinclair, Inc. (NASDAQ:SBGI)

Key Points

• Inspire Advisors LLC increased its stake in Sinclair, Inc. by 38.2%, acquiring an additional 46,367 shares during the first quarter, bringing their total holdings to 167,622 shares.
• Sinclair's most recent quarterly earnings report showed a loss of ($2.18) earnings per share, which was below analysts' expectations, alongside a decrease in year-over-year revenue.
• The company declared a quarterly dividend of $0.25 per share, translating to an annualized yield of 6.71%, with a payout ratio of 49.75%.

Inspire Advisors LLC lifted its position in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 38.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 167,622 shares of the company's stock after purchasing an additional 46,367 shares during the period. Inspire Advisors LLC owned about 0.25% of Sinclair worth $2,670,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Federated Hermes Inc. bought a new stake in shares of Sinclair during the fourth quarter worth about $47,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Sinclair during the first quarter worth about $58,000. NBC Securities Inc. boosted its holdings in Sinclair by 105,075.0% in the first 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. boosted its holdings in Sinclair by 71.5% in the first 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. Finally, KLP Kapitalforvaltning AS bought a new stake in Sinclair in the fourth quarter valued at approximately $123,000. 41.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SBGI has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their target price on Sinclair from $14.00 to $13.00 and set an "underweight" rating on the stock in a report on Wednesday, May 21st. Wall Street Zen cut Sinclair from a "hold" rating to a "sell" rating in a report on Monday, May 12th. Guggenheim reiterated a "buy" rating on shares of Sinclair in a report on Thursday, May 15th. Finally, Benchmark reduced their target price on Sinclair from $30.00 to $29.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Two investment 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $18.50.

Sinclair Price Performance

Sinclair stock opened at $14.91 on Friday. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 7.42 and a beta of 1.30. Sinclair, Inc. has a 52-week low of $12.06 and a 52-week high of $18.45. The stock's 50 day moving average price is $14.13 and its two-hundred day moving average price is $14.61. The company has a debt-to-equity ratio of 11.32, a quick ratio of 2.08 and a current ratio of 2.08.

Sinclair (NASDAQ:SBGI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($2.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.78) by ($0.40). The business had revenue of $776.00 million for the quarter, compared to the consensus estimate of $774.79 million. Sinclair had a return on equity of 34.15% and a net margin of 3.72%. Sinclair's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.35 earnings per share. On average, equities analysts predict that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.71%. The ex-dividend date was Friday, May 30th. Sinclair's 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.

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