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

Rhumbline Advisers decreased its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 41.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,970 shares of the company's stock after selling 36,102 shares during the quarter. Rhumbline Advisers owned approximately 0.08% of Sinclair worth $796,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Carronade Capital Management LP boosted its stake in Sinclair by 418.1% during the 4th quarter. Carronade Capital Management LP now owns 440,419 shares of the company's stock valued at $7,108,000 after purchasing an additional 355,419 shares during the period. Trexquant Investment LP acquired a new position in shares of Sinclair during the fourth quarter worth approximately $1,688,000. Empyrean Capital Partners LP grew its holdings in Sinclair by 8.0% in the 4th quarter. Empyrean Capital Partners LP now owns 1,144,493 shares of the company's stock worth $18,472,000 after buying an additional 84,493 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Sinclair by 52.9% in the 4th quarter. Point72 Asset Management L.P. now owns 210,939 shares of the company's stock worth $3,405,000 after buying an additional 73,006 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Sinclair by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 3,714,036 shares of the company's stock valued at $59,945,000 after acquiring an additional 64,683 shares during the period. Institutional investors own 41.71% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wells Fargo & Company reduced their price target on Sinclair from $19.00 to $17.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. Benchmark reduced their price objective on shares of Sinclair from $30.00 to $29.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. lowered their target price 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. Wall Street Zen lowered shares of Sinclair from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. Finally, Guggenheim reiterated a "buy" rating on shares of Sinclair in a report on Thursday, May 15th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $18.50.

Insiders Place Their Bets

In other news, Chairman David D. Smith acquired 7,719 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was acquired at an average cost of $13.20 per share, for a total transaction of $101,890.80. Following the completion of the acquisition, the chairman now owns 1,340,884 shares in the company, valued at approximately $17,699,668.80. The trade was a 0.58% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have bought 195,989 shares of company stock worth $2,791,614. Corporate insiders own 46.60% of the company's stock.

Sinclair Price Performance

Shares of NASDAQ SBGI traded up $0.14 during trading on Tuesday, hitting $13.69. The company had a trading volume of 372,462 shares, compared to its average volume of 361,722. The company has a market cap of $952.41 million, a P/E ratio of 6.81 and a beta of 1.32. The company has a debt-to-equity ratio of 11.32, a quick ratio of 2.08 and a current ratio of 2.08. The business's 50-day moving average is $14.24 and its 200 day moving average is $14.93. Sinclair, Inc. has a 52 week low of $11.43 and a 52 week high of $18.46.

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

Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.00 annualized dividend and a dividend yield of 7.30%. Sinclair's dividend payout ratio (DPR) is presently 49.75%.

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.