Allspring Global Investments Holdings LLC Has $72,000 Stock Holdings in Sinclair, Inc. (NASDAQ:SBGI)

Allspring Global Investments Holdings LLC reduced its position in Sinclair, Inc. (NASDAQ:SBGI) by 72.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,559 shares of the company’s stock after selling 14,918 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Sinclair were worth $72,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. NBC Securities Inc. bought a new stake in Sinclair in the third quarter valued at approximately $31,000. DekaBank Deutsche Girozentrale bought a new stake in Sinclair in the 3rd quarter valued at $113,000. Nisa Investment Advisors LLC raised its stake in Sinclair by 29,122.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 10,520 shares of the company’s stock valued at $118,000 after acquiring an additional 10,484 shares during the period. Valley Forge Investment Consultants Inc. ADV bought a new position in Sinclair during the third quarter worth $120,000. Finally, Verdence Capital Advisors LLC acquired a new position in shares of Sinclair in the third quarter valued at $145,000. Institutional investors own 41.71% of the company’s stock.

Insider Buying and Selling

In other Sinclair news, Director Daniel C. Keith sold 30,086 shares of Sinclair stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $13.58, for a total value of $408,567.88. Following the completion of the transaction, the director now directly owns 30,000 shares of the company’s stock, valued at approximately $407,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO David R. Bochenek sold 20,803 shares of the company’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel C. Keith sold 30,086 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $13.58, for a total transaction of $408,567.88. Following the sale, the director now 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 currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Sinclair Trading Up 3.3 %

Shares of Sinclair stock opened at $12.53 on Tuesday. The company has a debt-to-equity ratio of 18.73, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a 50-day moving average of $12.98 and a 200-day moving average of $13.36. Sinclair, Inc. has a 52-week low of $9.39 and a 52-week high of $20.57. The stock has a market cap of $796.59 million, a PE ratio of -2.59, a PEG ratio of 0.29 and a beta of 1.41.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.81 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $838.75 million. During the same quarter in the previous year, the firm posted $0.90 EPS. The business’s revenue for the quarter was down 14.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Sinclair, Inc. will post 2.42 EPS for the current year.

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 7.98%. The ex-dividend date of this dividend was Friday, March 8th. Sinclair’s dividend payout ratio (DPR) is currently -20.70%.

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.