NBC Securities Inc. Boosts Stake in Sinclair, Inc. (NASDAQ:SBGI)

NBC Securities Inc. increased its position in Sinclair, Inc. (NASDAQ:SBGI) by 35.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,845 shares of the company’s stock after purchasing an additional 1,000 shares during the period. NBC Securities Inc.’s holdings in Sinclair were worth $50,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale purchased a new stake in shares of Sinclair in the third quarter worth about $113,000. Russell Investments Group Ltd. purchased a new stake in shares of Sinclair in the fourth quarter worth about $117,000. Nisa Investment Advisors LLC lifted its position in shares of Sinclair by 29,122.2% in the third quarter. Nisa Investment Advisors LLC now owns 10,520 shares of the company’s stock worth $118,000 after buying an additional 10,484 shares in the last quarter. Valley Forge Investment Consultants Inc. ADV bought a new stake in Sinclair during the third quarter worth approximately $120,000. Finally, New York State Common Retirement Fund increased its stake in Sinclair by 89.1% during the third quarter. New York State Common Retirement Fund now owns 15,693 shares of the company’s stock worth $176,000 after acquiring an additional 7,393 shares during the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Sinclair Stock Performance

SBGI opened at $14.55 on Friday. The stock’s 50 day moving average price is $12.89 and its 200-day moving average price is $13.65. Sinclair, Inc. has a one year low of $9.39 and a one year high of $17.58. The company has a quick ratio of 1.34, a current ratio of 1.42 and a debt-to-equity ratio of 15.29.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.35. Sinclair had a negative return on equity of 2.65% and a negative net margin of 14.34%. The company had revenue of $826.00 million for the quarter, compared to analysts’ expectations of $838.75 million. During the same quarter in the prior year, the firm earned $0.90 earnings per share. Sinclair’s revenue was down 14.0% compared to the same quarter last year. On average, sell-side analysts forecast that Sinclair, Inc. will post 3.08 earnings per share for the current year.

Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.00 annualized dividend and a yield of 6.87%. Sinclair’s dividend payout ratio (DPR) is currently -14.04%.

Analyst Ratings Changes

Several brokerages have weighed in on SBGI. Wells Fargo & Company boosted their price objective on Sinclair from $12.00 to $13.00 and gave the stock an “underweight” rating in a research note on Friday, March 1st. StockNews.com raised Sinclair from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $18.14.

Insider Buying and Selling

In other Sinclair news, CAO David R. Bochenek sold 20,803 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $13.44, for a total transaction of $279,592.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Sinclair news, CAO David R. Bochenek sold 20,803 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $13.44, for a total transaction of $279,592.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel C. Keith sold 30,086 shares of the company’s 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 sale, the director now owns 30,000 shares of the company’s stock, valued at approximately $407,400. The disclosure for this sale can be found here. 39.60% of the stock is owned by 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.