Choreo LLC Makes New Investment in Sinclair, Inc. (NASDAQ:SBGI)

Choreo LLC acquired a new position in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 228,893 shares of the company's stock, valued at approximately $2,982,000. Choreo LLC owned 0.36% of Sinclair at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SBGI. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Sinclair during the 3rd quarter valued at about $240,000. Grant GrossMendelsohn LLC lifted its holdings in shares of Sinclair by 6.3% during the 3rd quarter. Grant GrossMendelsohn LLC now owns 43,298 shares of the company's stock valued at $486,000 after buying an additional 2,571 shares during the last quarter. Verdence Capital Advisors LLC acquired a new stake in shares of Sinclair during the 3rd quarter valued at about $145,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Sinclair by 911.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,477 shares of the company's stock valued at $230,000 after buying an additional 18,452 shares during the last quarter. Finally, Capital Management Corp VA lifted its holdings in shares of Sinclair by 16.5% during the 3rd quarter. Capital Management Corp VA now owns 1,652,805 shares of the company's stock valued at $18,544,000 after buying an additional 233,977 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. StockNews.com lowered Sinclair from a "hold" rating to a "sell" rating in a report on Friday, March 1st. Rosenblatt Securities raised their price objective on Sinclair from $10.40 to $15.70 and gave the company a "neutral" rating in a research note on Thursday, January 18th. Finally, Wells Fargo & Company raised their price objective on Sinclair from $12.00 to $13.00 and gave the company an "underweight" rating in a research note on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $18.14.

Sinclair Stock Performance

Shares of SBGI stock traded down $0.22 during trading on Tuesday, reaching $12.30. The company had a trading volume of 226,469 shares, compared to its average volume of 446,720. The firm's 50 day simple moving average is $12.98 and its two-hundred day simple moving average is $13.36. The company has a debt-to-equity ratio of 18.73, a current ratio of 1.34 and a quick ratio of 1.34. Sinclair, Inc. has a one year low of $9.39 and a one year high of $20.57. The company has a market capitalization of $782.28 million, a PE ratio of -2.52, a PEG ratio of 0.29 and a beta of 1.41.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.46 by $0.35. The company had revenue of $826.00 million for the quarter, compared to the consensus estimate of $838.75 million. Sinclair had a positive return on equity of 26.46% and a negative net margin of 9.29%. The company's revenue for the quarter was down 14.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 EPS. Sell-side analysts forecast that Sinclair, Inc. will post 2.42 earnings per share for the current year.

Sinclair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.13%. The ex-dividend date was Friday, March 8th. Sinclair's dividend payout ratio is currently -20.70%.

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.