Ethic Inc. Sells 3,628 Shares of Sinclair, Inc. $SBGI

Ethic Inc. lowered its stake in shares of Sinclair, Inc. (NASDAQ:SBGI) by 24.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,198 shares of the company’s stock after selling 3,628 shares during the quarter. Ethic Inc.’s holdings in Sinclair were worth $151,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SBGI. Alpha Wealth Funds LLC bought a new stake in Sinclair in the second quarter worth $515,000. Allianz Asset Management GmbH purchased a new stake in shares of Sinclair in the second quarter worth approximately $602,000. Acadian Asset Management LLC lifted its position in shares of Sinclair by 134.7% during the first quarter. Acadian Asset Management LLC now owns 11,525 shares of the company’s stock worth $182,000 after purchasing an additional 6,615 shares during the last quarter. Empowered Funds LLC boosted its position in Sinclair by 3.3% in the 1st quarter. Empowered Funds LLC now owns 251,943 shares of the company’s stock valued at $4,013,000 after buying an additional 7,970 shares during the period. Finally, Aristeia Capital L.L.C. grew its stake in Sinclair by 158.8% in the 1st quarter. Aristeia Capital L.L.C. now owns 45,276 shares of the company’s stock worth $721,000 after acquiring an additional 27,782 shares in the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on SBGI shares. Zacks Research lowered Sinclair from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Benchmark cut their target price on Sinclair from $29.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Guggenheim decreased their target price on shares of Sinclair from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, August 14th. Weiss Ratings restated a “hold (c-)” rating on shares of Sinclair in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company cut their price target on shares of Sinclair from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, August 7th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $18.75.

Sinclair Trading Up 1.1%

NASDAQ SBGI opened at $13.66 on Friday. Sinclair, Inc. has a 1 year low of $11.89 and a 1 year high of $18.45. The company has a debt-to-equity ratio of 13.93, a current ratio of 1.89 and a quick ratio of 1.89. The company has a market capitalization of $951.42 million, a PE ratio of 16.46 and a beta of 1.31. The company has a fifty day moving average of $13.91 and a 200 day moving average of $14.16.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.19). Sinclair had a net margin of 1.44% and a return on equity of 12.51%. The company had revenue of $784.00 million for the quarter, compared to analysts’ expectations of $798.16 million. During the same quarter in the previous year, the business posted $0.27 EPS. The business’s quarterly revenue was down 5.4% on a year-over-year basis. Research analysts forecast that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.00 dividend on an annualized basis and a yield of 7.3%. Sinclair’s payout ratio is presently 120.48%.

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.