Jump Financial LLC reduced its position in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 52.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,820 shares of the company's stock after selling 32,460 shares during the quarter. Jump Financial LLC's holdings in Sinclair were worth $481,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in Sinclair by 26.9% during the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company's stock worth $47,000 after buying an additional 613 shares during the last quarter. Federated Hermes Inc. purchased a new position in Sinclair during the 4th quarter worth $47,000. New York State Common Retirement Fund grew its stake in Sinclair by 29.4% during the 4th quarter. New York State Common Retirement Fund now owns 7,480 shares of the company's stock worth $121,000 after buying an additional 1,700 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Sinclair during the 4th quarter worth $123,000. Finally, EntryPoint Capital LLC purchased a new position in Sinclair during the 4th quarter worth $194,000. 41.71% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Sinclair
In other Sinclair news, Chairman David D. Smith bought 4,616 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were purchased at an average price of $16.44 per share, for a total transaction of $75,887.04. Following the transaction, the chairman now directly owns 972,205 shares of the company's stock, valued at approximately $15,983,050.20. This represents a 0.48 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders have acquired 458,530 shares of company stock valued at $6,636,392. Company insiders own 46.60% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have commented on SBGI shares. Benchmark reaffirmed a "buy" rating and set a $30.00 price target on shares of Sinclair in a research report on Tuesday, January 28th. StockNews.com cut Sinclair from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Wells Fargo & Company lowered 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. Finally, Guggenheim lowered their price target on Sinclair from $19.00 to $17.00 and set a "buy" rating for the company in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $19.30.
Check Out Our Latest Report on SBGI
Sinclair Stock Performance
Shares of SBGI stock traded down $0.08 on Wednesday, hitting $14.40. The company had a trading volume of 305,197 shares, compared to its average volume of 357,844. The firm has a market cap of $957.15 million, a P/E ratio of -4.36 and a beta of 1.29. The company has a 50-day moving average price of $14.73 and a 200-day moving average price of $15.71. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. Sinclair, Inc. has a twelve month low of $11.13 and a twelve month high of $18.46.
Sinclair (NASDAQ:SBGI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.62. The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $1.01 billion. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. As a group, equities research analysts predict that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.
Sinclair Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.00 dividend on an annualized basis and a yield of 6.94%. Sinclair's dividend payout ratio is currently 21.46%.
About Sinclair
(
Free Report)
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.
Further Reading
Before you consider Sinclair, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sinclair wasn't on the list.
While Sinclair currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Like this article? Share it with a colleague.
Link copied to clipboard.
