Raymond James Financial Services Advisors Inc. Acquires 1,424 Shares of Sinclair, Inc. (NASDAQ:SBGI)

Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI) by 6.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 22,804 shares of the company’s stock after buying an additional 1,424 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Sinclair were worth $297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL grew its position in Sinclair by 2.7% during the third quarter. Gamco Investors INC. ET AL now owns 3,524,743 shares of the company’s stock valued at $39,548,000 after buying an additional 91,870 shares during the period. Capital Management Corp VA grew its position in Sinclair by 16.5% during the third 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 period. American Financial Group Inc. grew its position in Sinclair by 12.7% during the third quarter. American Financial Group Inc. now owns 658,420 shares of the company’s stock valued at $7,387,000 after buying an additional 74,101 shares during the period. Charles Schwab Investment Management Inc. grew its position in Sinclair by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 634,607 shares of the company’s stock valued at $7,120,000 after buying an additional 34,595 shares during the period. Finally, AQR Capital Management LLC grew its position in Sinclair by 102.0% during the third quarter. AQR Capital Management LLC now owns 478,946 shares of the company’s stock valued at $5,374,000 after buying an additional 241,895 shares during the period. 41.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Rosenblatt Securities boosted their target price on shares of Sinclair from $10.40 to $15.70 and gave the company a “neutral” rating in a research report on Thursday, January 18th. StockNews.com lowered shares of Sinclair from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Finally, Wells Fargo & Company upped their price target on shares of Sinclair from $12.00 to $13.00 and gave the stock an “underweight” rating in a research report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Sinclair presently has an average rating of “Hold” and a consensus target price of $18.14.

Sinclair Stock Performance

SBGI opened at $12.34 on Tuesday. The firm has a market cap of $784.82 million, a P/E ratio of -2.55, a PEG ratio of 0.30 and a beta of 1.41. Sinclair, Inc. has a 1-year low of $9.39 and a 1-year high of $20.57. The company has a 50 day simple moving average of $13.30 and a two-hundred day simple moving average of $13.28. 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 (NASDAQ:SBGI) last issued its earnings results on Wednesday, February 28th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.35. Sinclair had a negative net margin of 9.29% and a positive return on equity of 26.46%. The firm had revenue of $826.00 million during the quarter, compared to analyst estimates of $838.75 million. During the same quarter in the prior year, the business earned $0.90 earnings per share. Sinclair’s revenue for the quarter was down 14.0% on a year-over-year basis. Equities analysts forecast that Sinclair, Inc. will post 2.42 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.10%. Sinclair’s dividend payout ratio is -20.70%.

Insider Buying and Selling

In related news, CAO David R. Bochenek sold 20,803 shares of the company’s stock in a transaction on Monday, March 11th. The shares were 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 Securities & Exchange Commission, which is available at this link. In related news, CAO David R. Bochenek sold 20,803 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $13.44, for a total transaction of $279,592.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel C. Keith sold 30,086 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $13.58, for a total transaction 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. 41.70% of the stock is owned by company insiders.

About Sinclair

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.