GAMMA Investing LLC Boosts Position in Sinclair, Inc. (NASDAQ:SBGI)

GAMMA Investing LLC boosted its stake in Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 1,804.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,150 shares of the company's stock after purchasing an additional 52,254 shares during the quarter. GAMMA Investing LLC owned approximately 0.08% of Sinclair worth $879,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Central Pacific Bank Trust Division boosted its stake in Sinclair by 77.8% in 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Sinclair by 19.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 86,580 shares of the company's stock valued at $1,397,000 after acquiring an additional 14,344 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of Sinclair by 52.9% during the 4th quarter. Point72 Asset Management L.P. now owns 210,939 shares of the company's stock valued at $3,405,000 after acquiring an additional 73,006 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Sinclair by 4.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,302 shares of the company's stock valued at $295,000 after buying an additional 760 shares in the last quarter. Finally, Empyrean Capital Partners LP raised its holdings in shares of Sinclair by 8.0% during the 4th quarter. Empyrean Capital Partners LP now owns 1,144,493 shares of the company's stock valued at $18,472,000 after buying an additional 84,493 shares in the last quarter. Institutional investors own 41.71% of the company's stock.

Insider Buying and Selling at Sinclair

In other Sinclair news, Chairman David D. Smith purchased 17,902 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was purchased at an average price of $16.45 per share, for a total transaction of $294,487.90. Following the completion of the purchase, the chairman now directly owns 1,082,771 shares of the company's stock, valued at $17,811,582.95. This trade represents a 1.68% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders purchased 218,507 shares of company stock worth $3,161,989. 41.90% of the stock is owned by insiders.

Sinclair Stock Up 0.9%

Shares of SBGI stock traded up $0.12 during mid-day trading on Wednesday, reaching $13.07. 398,680 shares of the company's stock traded hands, compared to its average volume of 431,410. Sinclair, Inc. has a 12 month low of $11.13 and a 12 month high of $18.46. The company has a market cap of $909.28 million, a P/E ratio of 6.54 and a beta of 1.32. 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 company's 50-day moving average price is $14.28 and its 200-day moving average price is $15.08.

Sinclair (NASDAQ:SBGI - Get Free Report) last announced its quarterly earnings data 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 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 firm's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 EPS. On average, equities analysts expect that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.65%. The ex-dividend date of this dividend was Friday, May 30th. Sinclair's payout ratio is 49.75%.

Analyst Upgrades and Downgrades

SBGI has been the topic of a number of research reports. Wells Fargo & Company decreased their price objective on Sinclair from $19.00 to $17.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th. Benchmark decreased their price target on Sinclair from $30.00 to $29.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Guggenheim reaffirmed a "buy" rating on shares of Sinclair in a research note on Thursday, May 15th. JPMorgan Chase & Co. decreased their price target on Sinclair from $14.00 to $13.00 and set an "underweight" rating on the stock in a research note on Wednesday, May 21st. Finally, Wall Street Zen cut Sinclair from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. Two 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's stock. According to MarketBeat, Sinclair currently has an average rating of "Hold" and a consensus price target of $18.50.

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.