Barclays PLC Grows Stock Position in Sinclair, Inc. (NASDAQ:SBGI)

Barclays PLC raised its position in shares of Sinclair, Inc. (NASDAQ:SBGI) by 378.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,229 shares of the company’s stock after purchasing an additional 42,887 shares during the quarter. Barclays PLC owned 0.08% of Sinclair worth $831,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Segall Bryant & Hamill LLC acquired a new position in shares of Sinclair during the third quarter valued at approximately $1,605,000. Verition Fund Management LLC acquired a new position in Sinclair during the third quarter worth $822,000. Empyrean Capital Partners LP purchased a new position in shares of Sinclair during the second quarter worth $2,873,000. Alden Global Capital LLC grew its stake in shares of Sinclair by 10.5% in the second quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company’s stock valued at $16,341,000 after buying an additional 116,074 shares in the last quarter. Finally, Inspire Advisors LLC purchased a new stake in shares of Sinclair in the 2nd quarter valued at $1,552,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on SBGI. StockNews.com raised shares of Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. JPMorgan Chase & Co. increased their target price on Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Guggenheim lifted their price target on Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Rosenblatt Securities increased their price objective on Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, Benchmark increased their price target on shares of Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. One equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.10.

Sinclair Trading Up 3.3 %

SBGI opened at $16.14 on Wednesday. The business’s 50 day moving average is $16.89 and its two-hundred day moving average is $15.16. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -4.89, a price-to-earnings-growth ratio of 0.15 and a beta of 1.55. Sinclair, Inc. has a 52 week low of $11.13 and a 52 week high of $18.45. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73.

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

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.20%. The ex-dividend date of this dividend was Monday, December 2nd. Sinclair’s payout ratio is -30.30%.

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.