Sinclair, Inc. $SBGI Shares Purchased by Gamco Investors INC. ET AL

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 holdings in Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 1.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,740,387 shares of the company's stock after purchasing an additional 36,105 shares during the quarter. Gamco Investors INC. ET AL owned about 5.63% of Sinclair worth $59,584,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SBGI. Wells Fargo & Company MN boosted its holdings in Sinclair by 8.5% in the fourth quarter. Wells Fargo & Company MN now owns 33,548 shares of the company's stock valued at $541,000 after purchasing an additional 2,620 shares in the last quarter. Legal & General Group Plc boosted its holdings in Sinclair by 11.5% in the fourth quarter. Legal & General Group Plc now owns 36,766 shares of the company's stock valued at $593,000 after purchasing an additional 3,800 shares in the last quarter. Barclays PLC boosted its holdings in Sinclair by 6.9% in the fourth quarter. Barclays PLC now owns 57,974 shares of the company's stock valued at $935,000 after purchasing an additional 3,745 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Sinclair by 5.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,500 shares of the company's stock valued at $590,000 after purchasing an additional 2,035 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Sinclair in the fourth quarter valued at approximately $940,000. 41.71% of the stock is owned by institutional investors and hedge funds.

Sinclair Price Performance

Shares of NASDAQ SBGI opened at $14.38 on Tuesday. 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 has a fifty day moving average price of $14.23 and a 200 day moving average price of $14.47. Sinclair, Inc. has a 1-year low of $11.89 and a 1-year high of $18.45. The company has a market cap of $1.00 billion, a PE ratio of 17.33 and a beta of 1.28.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.91) earnings per share 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 company had revenue of $784.00 million for the quarter, compared to analyst estimates of $798.16 million. During the same period in the prior year, the business earned $0.27 earnings per share. Sinclair's revenue for the quarter was down 5.4% compared to the same quarter last year. Sell-side analysts forecast that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.00 annualized dividend and a dividend yield of 7.0%. Sinclair's dividend payout ratio (DPR) is currently 120.48%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Guggenheim lowered their price target on Sinclair from $20.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, August 14th. Wells Fargo & Company decreased their price objective on Sinclair from $17.00 to $16.00 and set an "equal weight" rating for the company in a report on Thursday, August 7th. Wall Street Zen downgraded Sinclair from a "hold" rating to a "sell" rating in a report on Monday, May 12th. Zacks Research raised Sinclair to a "hold" rating in a report on Thursday, August 21st. Finally, JPMorgan Chase & Co. decreased their price objective on Sinclair from $14.00 to $13.00 and set an "underweight" rating for the company in a report on Wednesday, May 21st. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $18.30.

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.

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