KLP Kapitalforvaltning AS Invests $123,000 in Sinclair, Inc. (NASDAQ:SBGI)

KLP Kapitalforvaltning AS acquired a new position in Sinclair, Inc. (NASDAQ:SBGI) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,600 shares of the company’s stock, valued at approximately $123,000.

A number of other institutional investors have also added to or reduced their stakes in SBGI. GAMMA Investing LLC grew its holdings in Sinclair by 26.9% during the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after buying an additional 613 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Sinclair by 29.4% during the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock worth $121,000 after purchasing an additional 1,700 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Sinclair by 15.4% during the 3rd quarter. HighTower Advisors LLC now owns 28,463 shares of the company’s stock valued at $433,000 after buying an additional 3,801 shares in the last quarter. Inspire Advisors LLC boosted its holdings in shares of Sinclair by 6.3% in the fourth quarter. Inspire Advisors LLC now owns 121,255 shares of the company’s stock valued at $1,957,000 after purchasing an additional 7,207 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Sinclair by 15.9% in the 4th quarter. American Century Companies Inc. now owns 73,008 shares of the company’s stock worth $1,178,000 after buying an additional 10,018 shares during the period. 41.71% of the stock is owned by hedge funds and other institutional investors.

Sinclair Trading Up 5.8 %

NASDAQ SBGI opened at $14.14 on Thursday. Sinclair, Inc. has a 1 year low of $11.13 and a 1 year high of $18.46. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. The company has a market capitalization of $939.87 million, a PE ratio of -4.28 and a beta of 1.29. The company has a fifty day moving average of $14.88 and a 200 day moving average of $15.88.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.62. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. Research analysts forecast that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 7.07%. The ex-dividend date of this dividend was Monday, March 10th. Sinclair’s dividend payout ratio (DPR) is 21.46%.

Insider Activity

In other news, Chairman David D. Smith purchased 17,902 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were bought at an average price of $16.45 per share, for a total transaction of $294,487.90. Following the completion of the transaction, the chairman now owns 1,082,771 shares in the company, valued at $17,811,582.95. This represents a 1.68 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders bought a total of 395,457 shares of company stock valued at $5,822,120 in the last three months. 46.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SBGI. Wells Fargo & Company dropped their price objective on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Benchmark reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Sinclair in a research report on Tuesday, January 28th. StockNews.com cut Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Guggenheim cut their price objective on Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.30.

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.