US Bancorp DE Sells 695 Shares of Sinclair, Inc. (NASDAQ:SBGI)

US Bancorp DE trimmed its position in shares of Sinclair, Inc. (NASDAQ:SBGI) by 16.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,631 shares of the company’s stock after selling 695 shares during the period. US Bancorp DE’s holdings in Sinclair were worth $56,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. nVerses Capital LLC acquired a new stake in shares of Sinclair during the 2nd quarter worth approximately $28,000. GAMMA Investing LLC boosted its stake in Sinclair by 81.6% during the third quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock worth $35,000 after buying an additional 1,026 shares in the last quarter. EntryPoint Capital LLC boosted its stake in Sinclair by 37.2% during the first quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock worth $54,000 after buying an additional 1,085 shares in the last quarter. Headlands Technologies LLC increased its holdings in Sinclair by 1,039.0% in the 2nd quarter. Headlands Technologies LLC now owns 4,647 shares of the company’s stock valued at $62,000 after buying an additional 4,239 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Sinclair by 29.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,330 shares of the company’s stock valued at $111,000 after buying an additional 1,898 shares in the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SBGI has been the topic of several recent research reports. StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th. Rosenblatt Securities lifted their price target on shares of Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a report on Friday, September 20th. JPMorgan Chase & Co. upped their price objective on shares of Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Benchmark increased their price objective on shares of Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company upgraded shares of Sinclair from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $13.00 to $19.00 in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.38.

Sinclair Stock Performance

Shares of Sinclair stock opened at $16.18 on Monday. Sinclair, Inc. has a 12 month low of $11.13 and a 12 month high of $18.20. The company has a current ratio of 1.91, a quick ratio of 1.78 and a debt-to-equity ratio of 11.73. The company has a market capitalization of $1.07 billion, a PE ratio of -4.90, a PEG ratio of 0.14 and a beta of 1.53. The stock’s fifty day simple moving average is $15.86 and its 200 day simple moving average is $14.31.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.54. The company had revenue of $917.00 million during the quarter, compared to analysts’ expectations of $923.02 million. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. Sinclair’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.30) earnings per share. On average, research analysts predict that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.18%. The ex-dividend date of this dividend is Monday, December 2nd. Sinclair’s payout ratio is presently -30.30%.

Sinclair Company Profile

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.