Sinclair, Inc. (NASDAQ:SBGI) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its stake in Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,391,538 shares of the company's stock after selling 117,546 shares during the period. Vanguard Group Inc. owned 5.34% of Sinclair worth $38,053,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. MetLife Investment Management LLC grew its position in shares of Sinclair by 54.9% in the first quarter. MetLife Investment Management LLC now owns 24,420 shares of the company's stock valued at $684,000 after purchasing an additional 8,654 shares during the last quarter. BlackRock Inc. grew its holdings in Sinclair by 1.0% in the 1st quarter. BlackRock Inc. now owns 3,945,312 shares of the company's stock valued at $110,548,000 after buying an additional 38,631 shares in the last quarter. Great West Life Assurance Co. Can increased its position in Sinclair by 18.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 5,068 shares of the company's stock worth $150,000 after buying an additional 787 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Sinclair by 273.2% during the first quarter. Dimensional Fund Advisors LP now owns 314,516 shares of the company's stock worth $8,812,000 after buying an additional 230,233 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in shares of Sinclair in the first quarter valued at about $216,000. 41.71% of the stock is owned by institutional investors.

Insider Transactions at Sinclair

In related news, CAO David R. Bochenek sold 20,803 shares of the company's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $13.44, for a total value of $279,592.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Sinclair news, CAO David R. Bochenek sold 20,803 shares of the company's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $13.44, for a total value of $279,592.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Daniel C. Keith sold 30,086 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $13.58, for a total transaction of $408,567.88. Following the transaction, the director now directly owns 30,000 shares of the company's stock, valued at approximately $407,400. The disclosure for this sale can be found here. Corporate insiders own 41.70% of the company's stock.

Sinclair Price Performance

Shares of Sinclair stock traded up $0.33 during trading on Thursday, hitting $12.32. 308,417 shares of the stock traded hands, compared to its average volume of 479,192. The firm's fifty day moving average is $13.74 and its 200-day moving average is $13.17. The stock has a market cap of $783.55 million, a price-to-earnings ratio of -2.48, a PEG ratio of 0.30 and a beta of 1.40. Sinclair, Inc. has a 52 week low of $9.39 and a 52 week high of $21.17. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 18.73.

Sinclair (NASDAQ:SBGI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.35. The company had revenue of $826.00 million during the quarter, compared to analysts' expectations of $838.75 million. Sinclair had a negative net margin of 9.29% and a positive return on equity of 26.46%. The firm's revenue was down 14.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. Research analysts expect that Sinclair, Inc. will post 2.42 EPS for the current fiscal year.

Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.12%. Sinclair's dividend payout ratio (DPR) is -20.70%.

Analyst Ratings Changes

Several analysts have weighed in on SBGI shares. StockNews.com cut shares of Sinclair from a "hold" rating to a "sell" rating in a research note on Friday, March 1st. Wells Fargo & Company boosted their price target on Sinclair from $12.00 to $13.00 and gave the company an "underweight" rating in a research note on Friday, March 1st. Finally, Rosenblatt Securities lifted their price objective on Sinclair from $10.40 to $15.70 and gave the company a "neutral" rating in a report on Thursday, January 18th. Two research 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. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $18.14.

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.