Susquehanna Fundamental Investments LLC Buys New Holdings in Sinclair, Inc. (NASDAQ:SBGI)

Susquehanna Fundamental Investments LLC acquired a new stake in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 58,211 shares of the company's stock, valued at approximately $940,000. Susquehanna Fundamental Investments LLC owned 0.09% of Sinclair at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SBGI. GAMMA Investing LLC grew its stake in shares of Sinclair by 26.9% in the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company's stock valued at $47,000 after buying an additional 613 shares during the period. Federated Hermes Inc. acquired a new stake in shares of Sinclair in the 4th quarter valued at $47,000. New York State Common Retirement Fund grew its position in Sinclair by 29.4% in the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company's stock valued at $121,000 after acquiring an additional 1,700 shares during the period. KLP Kapitalforvaltning AS bought a new position in Sinclair in the fourth quarter valued at approximately $123,000. Finally, EntryPoint Capital LLC bought a new position in Sinclair during the fourth quarter worth about $194,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Benchmark reduced their price target on Sinclair from $30.00 to $29.00 and set a "buy" rating for the company in a research report on Tuesday. Guggenheim lowered their target price on shares of Sinclair from $19.00 to $17.00 and set a "buy" rating for the company in a research note on Monday, March 10th. StockNews.com lowered Sinclair from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Finally, Wells Fargo & Company cut their target price on Sinclair from $19.00 to $17.00 and set an "equal weight" rating for the company in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $19.10.

Sinclair Stock Down 1.2 %

Shares of SBGI traded down $0.19 during midday trading on Thursday, hitting $15.50. The stock had a trading volume of 200,814 shares, compared to its average volume of 340,511. Sinclair, Inc. has a twelve month low of $11.13 and a twelve month high of $18.45. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -4.70 and a beta of 1.36. The company has a 50 day simple moving average of $14.80 and a two-hundred day simple moving average of $15.64. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91.

Sinclair (NASDAQ:SBGI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($2.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.78) by ($0.40). The company had revenue of $776.00 million for the quarter, compared to the consensus estimate of $774.79 million. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The company's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share. On average, analysts anticipate that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.45%. Sinclair's payout ratio is 21.46%.

Insider Activity

In other Sinclair news, Chairman David D. Smith bought 63,073 shares of the company's stock in a transaction that occurred on Wednesday, April 9th. The stock was purchased at an average price of $12.91 per share, with a total value of $814,272.43. Following the transaction, the chairman now owns 1,526,029 shares in the company, valued at $19,701,034.39. This trade represents a 4.31 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have acquired 458,530 shares of company stock worth $6,636,392 in the last quarter. Corporate insiders own 46.60% of the company's stock.

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.