Rhumbline Advisers Has $796,000 Stock Position in Sinclair, Inc. (NASDAQ:SBGI)

Rhumbline Advisers trimmed its stake in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 41.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,970 shares of the company's stock after selling 36,102 shares during the quarter. Rhumbline Advisers owned 0.08% of Sinclair worth $796,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Kendall Capital Management acquired a new stake in Sinclair during the fourth quarter valued at approximately $280,000. D. E. Shaw & Co. Inc. acquired a new position in shares of Sinclair in the 4th quarter worth approximately $395,000. Vanguard Group Inc. boosted its holdings in shares of Sinclair by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 3,714,036 shares of the company's stock worth $59,945,000 after acquiring an additional 64,683 shares in the last quarter. Carronade Capital Management LP boosted its holdings in shares of Sinclair by 418.1% in the 4th quarter. Carronade Capital Management LP now owns 440,419 shares of the company's stock worth $7,108,000 after acquiring an additional 355,419 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Sinclair in the 4th quarter worth approximately $451,000. 41.71% of the stock is owned by institutional investors and hedge funds.

Sinclair Trading Up 3.4%

SBGI stock traded up $0.45 during trading on Friday, hitting $13.52. The company had a trading volume of 1,574,387 shares, compared to its average volume of 361,645. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 11.32. The firm has a 50-day moving average price of $14.26 and a 200-day moving average price of $14.98. Sinclair, Inc. has a 12 month low of $11.43 and a 12 month high of $18.46. The stock has a market cap of $940.59 million, a price-to-earnings ratio of 6.73 and a beta of 1.32.

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

Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 7.40%. The ex-dividend date of this dividend was Friday, May 30th. Sinclair's dividend payout ratio (DPR) is presently 49.75%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SBGI. 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. Guggenheim reissued a "buy" rating on shares of Sinclair in a report on Thursday, May 15th. 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. Wall Street Zen downgraded Sinclair from a "hold" rating to a "sell" rating in a report on Monday, May 12th. Finally, Wells Fargo & Company reduced their target price on Sinclair from $19.00 to $17.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $18.50.

Insider Buying and Selling

In related news, Chairman David D. Smith acquired 125,197 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average price of $14.98 per share, for a total transaction of $1,875,451.06. Following the transaction, the chairman now directly owns 1,207,968 shares of the company's stock, valued at approximately $18,095,360.64. This trade represents a 11.56% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders purchased 213,891 shares of company stock worth $3,086,102 in the last quarter. Insiders own 41.90% of the company's stock.

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.