96,581 Shares in Sinclair, Inc. $SBGI Acquired by Nuveen LLC

Key Points

• Nuveen LLC has made a significant investment of $1.54 million in Sinclair, Inc. by purchasing approximately 96,581 shares in the first quarter, representing around 0.15% ownership of the company.
• Sinclair's most recent earnings report showed a loss per share of ($0.91), missing estimates, with revenue down 5.4% year-over-year at $784 million.
• The company declared a quarterly dividend of $0.25 per share, providing an annualized yield of 6.9%, but has a high dividend payout ratio of 120.48%.

Nuveen LLC acquired a new stake in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 96,581 shares of the company's stock, valued at approximately $1,539,000. Nuveen LLC owned about 0.15% of Sinclair as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. DekaBank Deutsche Girozentrale bought a new position in Sinclair during the first quarter valued at $58,000. NBC Securities Inc. lifted its position in Sinclair by 105,075.0% during the first quarter. NBC Securities Inc. now owns 4,207 shares of the company's stock valued at $67,000 after purchasing an additional 4,203 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Sinclair by 71.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 4,937 shares of the company's stock worth $79,000 after acquiring an additional 2,058 shares during the last quarter. Central Pacific Bank Trust Division boosted its stake in shares of Sinclair by 77.8% during the 1st quarter. Central Pacific Bank Trust Division now owns 8,000 shares of the company's stock worth $127,000 after purchasing an additional 3,500 shares during the period. Finally, Verity Asset Management Inc. purchased a new position in shares of Sinclair during the 1st quarter worth about $185,000. Institutional investors own 41.71% of the company's stock.

Sinclair Stock Down 0.1%

Shares of NASDAQ:SBGI traded down $0.02 during trading hours on Thursday, hitting $14.06. The company's stock had a trading volume of 16,847 shares, compared to its average volume of 421,794. Sinclair, Inc. has a 52 week low of $11.89 and a 52 week 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 has a market capitalization of $978.93 million, a price-to-earnings ratio of 16.93 and a beta of 1.31. The firm's fifty day moving average price is $14.37 and its 200 day moving average price is $14.46.

Sinclair (NASDAQ:SBGI - Get Free Report) last posted 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 business had revenue of $784.00 million during the quarter, compared to the consensus estimate of $798.16 million. During the same quarter in the prior year, the firm posted $0.27 EPS. The company's revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, research analysts expect that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Announces Dividend

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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Friday, August 29th. Sinclair's payout ratio is 120.48%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SBGI shares. Wells Fargo & Company dropped their price target on shares of Sinclair from $17.00 to $16.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. JPMorgan Chase & Co. dropped their price target on shares of Sinclair from $14.00 to $13.00 and set an "underweight" rating for the company in a research note on Wednesday, May 21st. Benchmark dropped their price target on shares of Sinclair from $29.00 to $27.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Wall Street Zen cut shares of Sinclair from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. Finally, Guggenheim lowered their price objective on shares of Sinclair from $20.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Sinclair presently has a consensus rating of "Hold" and a consensus price target of $18.30.

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.