LPL Financial LLC Boosts Position in Sinclair, Inc. (NASDAQ:SBGI)

LPL Financial LLC boosted its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI) by 326.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 185,384 shares of the company’s stock after buying an additional 141,952 shares during the quarter. LPL Financial LLC owned 0.29% of Sinclair worth $2,562,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SBGI. Millennium Management LLC raised its position in Sinclair by 1,068.9% during the 4th quarter. Millennium Management LLC now owns 2,082,069 shares of the company’s stock worth $32,293,000 after buying an additional 1,903,947 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Sinclair by 20.9% during the 1st quarter. Gamco Investors INC. ET AL now owns 2,905,561 shares of the company’s stock worth $49,859,000 after purchasing an additional 501,467 shares during the period. Renaissance Technologies LLC grew its stake in shares of Sinclair by 359.7% during the 1st quarter. Renaissance Technologies LLC now owns 618,571 shares of the company’s stock worth $17,332,000 after purchasing an additional 484,000 shares during the period. BlackRock Inc. grew its stake in shares of Sinclair by 8.5% during the 1st quarter. BlackRock Inc. now owns 3,832,576 shares of the company’s stock worth $65,767,000 after purchasing an additional 301,510 shares during the period. Finally, Capital Management Corp VA grew its stake in shares of Sinclair by 27.8% during the 1st quarter. Capital Management Corp VA now owns 1,348,320 shares of the company’s stock worth $23,137,000 after purchasing an additional 293,446 shares during the period. 86.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Sinclair news, Director Howard E. Friedman bought 12,053 shares of the stock in a transaction on Tuesday, October 10th. The shares were bought at an average price of $9.71 per share, with a total value of $117,034.63. Following the purchase, the director now directly owns 55,371 shares in the company, valued at approximately $537,652.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 39.60% of the stock is currently owned by corporate insiders.

Sinclair Price Performance

Sinclair stock opened at $13.41 on Friday. The company’s fifty day moving average price is $11.16 and its 200 day moving average price is $13.51. Sinclair, Inc. has a 1 year low of $9.39 and a 1 year high of $22.41. The stock has a market capitalization of $850.46 million, a P/E ratio of 10.24, a P/E/G ratio of 1.49 and a beta of 1.47. The company has a debt-to-equity ratio of 6.53, a quick ratio of 2.41 and a current ratio of 2.41.

Sinclair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.00 annualized dividend and a yield of 7.46%. Sinclair’s dividend payout ratio (DPR) is presently 76.34%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SBGI shares. StockNews.com started coverage on shares of Sinclair in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Benchmark reaffirmed a “buy” rating and set a $25.00 price objective on shares of Sinclair in a research note on Wednesday, August 23rd. Rosenblatt Securities dropped their price objective on shares of Sinclair from $18.60 to $13.50 and set a “neutral” rating on the stock in a research note on Tuesday, September 5th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Sinclair from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Tuesday, August 15th. Finally, Guggenheim dropped their price target on shares of Sinclair from $30.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.75.

Sinclair Profile

Sinclair, Inc, a media company, focuses on providing content on local television stations and digital platforms. The company distributes its content through broadcast platforms and third-party platforms that consist of programming provided by third-party networks and syndicators, local news, other original programming, and college sports.