Sinclair, Inc. (NASDAQ:SBGI) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in Sinclair, Inc. (NASDAQ:SBGI) by 1,804.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,150 shares of the company’s stock after acquiring an additional 52,254 shares during the quarter. GAMMA Investing LLC owned approximately 0.08% of Sinclair worth $879,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SBGI. Carronade Capital Management LP grew its position in Sinclair by 418.1% during the fourth quarter. Carronade Capital Management LP now owns 440,419 shares of the company’s stock valued at $7,108,000 after acquiring an additional 355,419 shares during the period. Trexquant Investment LP bought a new position in Sinclair in the 4th quarter worth approximately $1,688,000. Empyrean Capital Partners LP lifted its position in shares of Sinclair by 8.0% during the 4th quarter. Empyrean Capital Partners LP now owns 1,144,493 shares of the company’s stock valued at $18,472,000 after acquiring an additional 84,493 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Sinclair by 52.9% in the fourth quarter. Point72 Asset Management L.P. now owns 210,939 shares of the company’s stock valued at $3,405,000 after purchasing an additional 73,006 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Sinclair by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 3,714,036 shares of the company’s stock worth $59,945,000 after buying an additional 64,683 shares during the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Sinclair

In other news, Chairman David D. Smith acquired 125,197 shares of the firm’s stock in a transaction on Thursday, April 3rd. The shares were purchased at an average price of $14.98 per share, for a total transaction of $1,875,451.06. Following the completion of the transaction, the chairman now owns 1,207,968 shares of the company’s stock, valued at $18,095,360.64. The trade was a 11.56% 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. In the last ninety days, insiders purchased 218,507 shares of company stock valued at $3,161,989. Insiders own 41.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded Sinclair from a “hold” rating to a “sell” rating in a report on Monday, May 12th. Benchmark lowered their price target on shares of Sinclair from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company lowered their target price on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. JPMorgan Chase & Co. lowered their price target on shares of Sinclair from $14.00 to $13.00 and set an “underweight” rating for the company in a report on Wednesday, May 21st. Finally, Guggenheim reaffirmed a “buy” rating on shares of Sinclair in a research report on Thursday, May 15th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $18.50.

Sinclair Price Performance

Shares of NASDAQ SBGI opened at $13.26 on Tuesday. 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 stock has a market cap of $922.52 million, a price-to-earnings ratio of -4.02 and a beta of 1.32. Sinclair, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $18.46. The firm’s 50-day simple moving average is $14.31 and its 200 day simple moving average is $15.09.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($2.18) EPS for the quarter, missing the consensus estimate of ($1.78) by ($0.40). The business had revenue of $776.00 million during the quarter, compared to the consensus estimate of $774.79 million. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the business posted $0.35 earnings per share. As a group, research analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.54%. The ex-dividend date was Friday, May 30th. Sinclair’s dividend payout ratio is currently 49.75%.

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.