Wells Fargo & Company MN Purchases 2,620 Shares of Sinclair, Inc. (NASDAQ:SBGI)

Wells Fargo & Company MN boosted its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI) by 8.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,548 shares of the company’s stock after purchasing an additional 2,620 shares during the period. Wells Fargo & Company MN owned about 0.05% of Sinclair worth $541,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of Sinclair by 26.9% during the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock worth $47,000 after buying an additional 613 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Sinclair by 29.4% in the 4th 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 in the last quarter. HighTower Advisors LLC increased its holdings in Sinclair by 19.6% in the 4th quarter. HighTower Advisors LLC now owns 34,050 shares of the company’s stock worth $550,000 after purchasing an additional 5,587 shares in the last quarter. Inspire Advisors LLC raised its position in 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 last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Sinclair during the fourth quarter valued at about $123,000. Institutional investors own 41.71% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Sinclair Stock Up 4.9 %

Sinclair stock opened at $15.32 on Friday. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -4.64 and a beta of 1.29. Sinclair, Inc. has a 52-week low of $11.13 and a 52-week high of $18.46. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. The firm has a 50 day moving average price of $14.73 and a two-hundred day moving average price of $15.68.

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

Sinclair Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a dividend of $0.25 per share. The ex-dividend date was Monday, March 10th. This represents a $1.00 annualized dividend and a dividend yield of 6.53%. Sinclair’s payout ratio is 21.46%.

Insider Buying and Selling

In other Sinclair news, Chairman David D. Smith purchased 63,073 shares of the company’s stock in a transaction on Wednesday, April 9th. The shares were purchased at an average cost of $12.91 per share, with a total value of $814,272.43. Following the completion of the purchase, the chairman now owns 1,526,029 shares in the company, valued at $19,701,034.39. This represents a 4.31 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 458,530 shares of company stock valued at $6,636,392 over the last 90 days. Company insiders own 46.60% of the company’s stock.

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.