Hsbc Holdings PLC Has $182,000 Stock Position in Sinclair, Inc. $SBGI

Hsbc Holdings PLC lifted its position in Sinclair, Inc. (NASDAQ:SBGI) by 8.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,446 shares of the company’s stock after buying an additional 884 shares during the quarter. Hsbc Holdings PLC’s holdings in Sinclair were worth $182,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in Sinclair by 65.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 717,007 shares of the company’s stock valued at $11,422,000 after purchasing an additional 282,400 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in Sinclair during the 4th quarter valued at $395,000. GAMMA Investing LLC raised its stake in Sinclair by 1,804.4% during the 1st quarter. GAMMA Investing LLC now owns 55,150 shares of the company’s stock valued at $879,000 after purchasing an additional 52,254 shares during the last quarter. Algert Global LLC acquired a new position in Sinclair during the 1st quarter valued at $1,608,000. Finally, Inspire Advisors LLC raised its stake in Sinclair by 38.2% during the 1st quarter. Inspire Advisors LLC now owns 167,622 shares of the company’s stock valued at $2,670,000 after purchasing an additional 46,367 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on SBGI. Benchmark decreased their target price on shares of Sinclair from $29.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Guggenheim decreased their target price on shares of Sinclair from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, August 14th. JPMorgan Chase & Co. decreased their target price on shares of Sinclair from $14.00 to $13.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 21st. Wall Street Zen lowered shares of Sinclair from a “hold” rating to a “sell” rating in a research report on Monday, May 12th. Finally, Zacks Research upgraded shares of Sinclair to a “hold” rating in a research report on Thursday, August 21st. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.30.

Sinclair Trading Down 1.1%

Shares of Sinclair stock opened at $13.84 on Friday. The stock has a market capitalization of $963.96 million, a P/E ratio of 16.67 and a beta of 1.31. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 13.93. The company has a 50-day simple moving average of $14.38 and a 200 day simple moving average of $14.44. Sinclair, Inc. has a 12-month low of $11.89 and a 12-month high of $18.45.

Sinclair (NASDAQ:SBGI) last announced its earnings results on Wednesday, August 6th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.19). The firm had revenue of $784.00 million for the quarter, compared to analyst estimates of $798.16 million. Sinclair had a return on equity of 12.51% and a net margin of 1.44%.The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.27 EPS. Research analysts expect 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 will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.00 dividend on an annualized basis and a yield of 7.2%. Sinclair’s dividend payout ratio is currently 120.48%.

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.