American International Group Inc. Sells 2,389 Shares of Sinclair, Inc. (NASDAQ:SBGI)

American International Group Inc. lowered its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI) by 12.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 16,954 shares of the company’s stock after selling 2,389 shares during the period. American International Group Inc.’s holdings in Sinclair were worth $234,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in SBGI. Quarry LP grew its holdings in Sinclair by 101.2% in the 1st quarter. Quarry LP now owns 1,535 shares of the company’s stock worth $26,000 after acquiring an additional 772 shares during the last quarter. New York State Teachers Retirement System bought a new stake in Sinclair in the 2nd quarter worth $49,000. Tower Research Capital LLC TRC grew its holdings in Sinclair by 154.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,849 shares of the company’s stock worth $87,000 after acquiring an additional 2,942 shares during the last quarter. Dark Forest Capital Management LP grew its holdings in Sinclair by 300.1% in the 1st quarter. Dark Forest Capital Management LP now owns 5,489 shares of the company’s stock worth $94,000 after acquiring an additional 4,117 shares during the last quarter. Finally, Point72 Middle East FZE bought a new stake in Sinclair in the 4th quarter worth $96,000. Institutional investors own 86.19% of the company’s stock.

Sinclair Stock Performance

Shares of NASDAQ SBGI opened at $14.44 on Tuesday. Sinclair, Inc. has a 1 year low of $9.39 and a 1 year high of $22.41. The stock has a market cap of $917.08 million, a P/E ratio of 11.02, a price-to-earnings-growth ratio of 2.04 and a beta of 1.47. The firm has a 50-day moving average of $11.59 and a 200 day moving average of $13.20. The company has a debt-to-equity ratio of 7.10, a current ratio of 2.33 and a quick ratio of 2.33.

Sinclair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.00 dividend on an annualized basis and a yield of 6.93%. Sinclair’s dividend payout ratio (DPR) is currently 76.34%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SBGI shares. StockNews.com started coverage on shares of Sinclair in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Benchmark reaffirmed a “buy” rating and set a $25.00 target price on shares of Sinclair in a research note on Wednesday, August 23rd. Rosenblatt Securities cut their target price 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. Guggenheim cut their target price 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. Finally, Deutsche Bank Aktiengesellschaft cut their target price 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. Two investment analysts have 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 has an average rating of “Hold” and a consensus target price of $17.75.

Insider Activity at Sinclair

In other news, Director Howard E. Friedman bought 12,053 shares of the firm’s stock in a transaction on Tuesday, October 10th. The stock was acquired at an average cost of $9.71 per share, with a total value of $117,034.63. Following the completion of the acquisition, the director now owns 55,371 shares of the company’s stock, valued at $537,652.41. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 39.60% of the stock is currently owned by corporate insiders.

Sinclair Company 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.