Susquehanna Fundamental Investments LLC Invests $940,000 in Sinclair, Inc. (NASDAQ:SBGI)

Susquehanna Fundamental Investments LLC purchased a new stake in Sinclair, Inc. (NASDAQ:SBGI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 58,211 shares of the company's stock, valued at approximately $940,000. Susquehanna Fundamental Investments LLC owned approximately 0.09% of Sinclair as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its holdings in shares of Sinclair by 5.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,500 shares of the company's stock worth $590,000 after acquiring an additional 2,035 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in Sinclair by 223.0% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 39,725 shares of the company's stock valued at $641,000 after buying an additional 27,425 shares during the period. Gamco Investors INC. ET AL boosted its holdings in shares of Sinclair by 1.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 3,704,282 shares of the company's stock valued at $59,787,000 after buying an additional 55,350 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Sinclair in the 4th quarter worth about $406,000. Finally, Barclays PLC increased its stake in shares of Sinclair by 6.9% in the 4th quarter. Barclays PLC now owns 57,974 shares of the company's stock worth $935,000 after acquiring an additional 3,745 shares in the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman David D. Smith purchased 30,296 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average cost of $14.09 per share, for a total transaction of $426,870.64. Following the purchase, the chairman now directly owns 728,986 shares in the company, valued at approximately $10,271,412.74. This represents a 4.34 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders purchased 458,530 shares of company stock valued at $6,636,392 over the last three months. Insiders own 46.60% of the company's stock.

Sinclair Stock Up 2.2 %

Shares of SBGI traded up $0.34 on Wednesday, hitting $15.88. 285,506 shares of the stock traded hands, compared to its average volume of 359,786. The company has a market capitalization of $1.06 billion, a PE ratio of -4.81 and a beta of 1.36. Sinclair, Inc. has a one year low of $11.13 and a one year high of $18.46. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. The business has a 50 day simple moving average of $14.78 and a 200 day simple moving average of $15.64.

Sinclair (NASDAQ:SBGI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.62. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $1.01 billion. As a group, equities analysts forecast that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were paid a $0.25 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.30%. Sinclair's dividend payout ratio is presently 21.46%.

Wall Street Analysts Forecast Growth

SBGI has been the topic of a number of recent research reports. Benchmark cut their price objective on shares of Sinclair from $30.00 to $29.00 and set a "buy" rating on the stock in a report on Tuesday. Wells Fargo & Company cut their price target on Sinclair from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. StockNews.com cut Sinclair from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Guggenheim cut their target price on Sinclair from $19.00 to $17.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $19.10.

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.