Sinclair, Inc. (NASDAQ:SBGI) Shares Purchased by Northern Trust Corp

Northern Trust Corp boosted its position in Sinclair, Inc. (NASDAQ:SBGI) by 10.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 374,783 shares of the company’s stock after purchasing an additional 34,423 shares during the quarter. Northern Trust Corp owned about 0.56% of Sinclair worth $6,049,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SBGI. Federated Hermes Inc. acquired a new position in Sinclair in the 4th quarter valued at $47,000. New York State Common Retirement Fund grew 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 valued at $121,000 after buying an additional 1,700 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Sinclair in the 4th quarter valued at $123,000. EntryPoint Capital LLC purchased a new stake in Sinclair in the 4th quarter valued at $194,000. Finally, Aigen Investment Management LP purchased a new stake in Sinclair in the 4th quarter valued at $262,000. 41.71% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Sinclair

In other news, Chairman David D. Smith bought 63,073 shares of the firm’s stock in a transaction that occurred on Wednesday, April 9th. The shares were purchased at an average price of $12.91 per share, with a total value of $814,272.43. Following the purchase, the chairman now owns 1,526,029 shares in the company, valued at approximately $19,701,034.39. The trade was a 4.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders acquired 458,530 shares of company stock worth $6,636,392. 41.90% of the stock is currently owned by company insiders.

Sinclair Stock Performance

NASDAQ SBGI opened at $14.71 on Wednesday. The stock has a market cap of $977.76 million, a PE ratio of -4.46 and a beta of 1.36. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. Sinclair, Inc. has a twelve month low of $11.13 and a twelve month high of $18.46. The stock has a fifty day simple moving average of $15.00 and a 200-day simple moving average of $15.53.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($2.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.78) by ($0.40). The business had revenue of $776.00 million for the quarter, compared to analysts’ expectations of $774.79 million. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.35 earnings per share. Equities analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th 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 6.80%. The ex-dividend date of this dividend is Friday, May 30th. Sinclair’s dividend payout ratio is presently 49.75%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Benchmark dropped their target price on Sinclair from $30.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Guggenheim restated a “buy” rating on shares of Sinclair in a report on Thursday, May 15th. StockNews.com cut Sinclair from a “hold” rating to a “sell” rating in a report on Monday, May 12th. Finally, Wells Fargo & Company dropped their target price on Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Sinclair currently has an average rating of “Hold” and a consensus target price of $19.10.

Sinclair 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.