Gamco Investors INC. ET AL Buys 36,105 Shares of Sinclair, Inc. $SBGI

Key Points

• Gamco Investors INC. ET AL increased its stake in Sinclair, Inc. by 1.0%, owning approximately 3.74 million shares valued at $59.58 million.
• Sinclair reported a loss of ($0.91) per share for the last quarter, missing analyst estimates and showing a decline in revenue compared to the previous year.
• The company has declared a quarterly dividend of $0.25 per share, reflecting a 7.0% dividend yield, although its payout ratio stands at 120.48%.

Gamco Investors INC. ET AL boosted its stake in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,740,387 shares of the company's stock after purchasing an additional 36,105 shares during the period. Gamco Investors INC. ET AL owned about 5.63% of Sinclair worth $59,584,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Gabelli Funds LLC lifted its position in Sinclair by 0.4% during the first quarter. Gabelli Funds LLC now owns 1,153,354 shares of the company's stock valued at $18,373,000 after purchasing an additional 4,854 shares in the last quarter. Empyrean Capital Partners LP lifted its position in Sinclair by 8.0% during the fourth quarter. Empyrean Capital Partners LP now owns 1,144,493 shares of the company's stock valued at $18,472,000 after purchasing an additional 84,493 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Sinclair by 65.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 717,007 shares of the company's stock valued at $11,422,000 after purchasing an additional 282,400 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in Sinclair by 2.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 528,719 shares of the company's stock valued at $8,534,000 after purchasing an additional 11,883 shares in the last quarter. Finally, Carronade Capital Management LP lifted its position in Sinclair by 418.1% during the fourth 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 in the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Sinclair Price Performance

Shares of SBGI stock traded down $0.16 during trading hours on Friday, hitting $14.47. The stock had a trading volume of 517,441 shares, compared to its average volume of 688,872. Sinclair, Inc. has a one year low of $11.89 and a one year 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 stock's 50-day moving average price is $14.33 and its two-hundred day moving average price is $14.46. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 17.43 and a beta of 1.28.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.19). Sinclair had a return on equity of 12.51% and a net margin of 1.44%.The firm had revenue of $784.00 million during the quarter, compared to the consensus estimate of $798.16 million. During the same period last year, the firm posted $0.27 earnings per share. The company's revenue for the quarter was down 5.4% compared to the same quarter last year. Equities analysts forecast that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, August 29th. Sinclair's payout ratio is 120.48%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Benchmark decreased their price target on Sinclair from $29.00 to $27.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Guggenheim decreased their price target on Sinclair from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, August 14th. Zacks Research raised Sinclair to a "hold" rating in a report on Thursday, August 21st. 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 report on Wednesday, May 21st. Finally, Wells Fargo & Company decreased their price target on Sinclair from $17.00 to $16.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. Two equities 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 data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $18.30.

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.