Sinclair, Inc. $SBGI Stock Position Raised by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its position in Sinclair, Inc. (NASDAQ:SBGI) by 130.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 100,575 shares of the company’s stock after purchasing an additional 57,005 shares during the period. Allianz Asset Management GmbH owned about 0.14% of Sinclair worth $1,519,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in shares of Sinclair by 5.7% in the first quarter. AQR Capital Management LLC now owns 41,993 shares of the company’s stock valued at $656,000 after purchasing an additional 2,258 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Sinclair by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,082 shares of the company’s stock valued at $304,000 after buying an additional 780 shares in the last quarter. Acadian Asset Management LLC raised its position in Sinclair by 134.7% during the first quarter. Acadian Asset Management LLC now owns 11,525 shares of the company’s stock valued at $182,000 after buying an additional 6,615 shares during the period. Alpha Wealth Funds LLC purchased a new stake in Sinclair in the 2nd quarter worth about $515,000. Finally, AlphaQuest LLC lifted its stake in Sinclair by 33.6% in the 2nd quarter. AlphaQuest LLC now owns 11,117 shares of the company’s stock worth $154,000 after acquiring an additional 2,793 shares in the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SBGI has been the topic of several research analyst reports. Zacks Research raised Sinclair from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Wall Street Zen upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Guggenheim upped their price objective on shares of Sinclair from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Sinclair in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Sinclair currently has a consensus rating of “Hold” and a consensus price target of $19.00.

Insiders Place Their Bets

In other Sinclair news, EVP David B. Gibber sold 29,376 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $16.67, for a total transaction of $489,697.92. Following the transaction, the executive vice president owned 165,272 shares in the company, valued at $2,755,084.24. This trade represents a 15.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Howard E. Friedman sold 14,713 shares of the business’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $15.11, for a total transaction of $222,313.43. Following the completion of the sale, the director owned 77,685 shares of the company’s stock, valued at $1,173,820.35. The trade was a 15.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 50,637 shares of company stock valued at $815,535 over the last three months. 41.90% of the stock is currently owned by insiders.

Sinclair Price Performance

NASDAQ SBGI opened at $14.61 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 14.77. The stock has a market capitalization of $1.02 billion, a PE ratio of -23.56 and a beta of 0.96. Sinclair, Inc. has a 12-month low of $11.89 and a 12-month high of $17.88. The company has a 50 day moving average price of $15.11 and a two-hundred day moving average price of $14.62.

Sinclair Profile

Sinclair Broadcast Group, Inc (NASDAQ: SBGI) is a media and entertainment company headquartered in Hunt Valley, Maryland. Founded in 1971 as a single UHF television station operator, Sinclair has grown through strategic acquisitions and organic expansion to become one of the largest owners of local television stations in the United States. Over its history, the company has pursued a diversified portfolio that includes both traditional broadcast assets and newer digital platforms.

At its core, Sinclair operates over 190 television stations affiliated with the major national broadcast networks, including ABC, CBS, NBC, Fox, The CW and MyNetworkTV.