Segall Bryant & Hamill LLC Invests $1.61 Million in Sinclair, Inc. (NASDAQ:SBGI)

Segall Bryant & Hamill LLC purchased a new stake in Sinclair, Inc. (NASDAQ:SBGI) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 104,931 shares of the company’s stock, valued at approximately $1,605,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in shares of Sinclair in the second quarter valued at about $28,000. GAMMA Investing LLC grew its position in shares of Sinclair by 81.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock worth $35,000 after purchasing an additional 1,026 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Sinclair during the third quarter worth approximately $39,000. EntryPoint Capital LLC raised its position in shares of Sinclair by 37.2% in the first quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock valued at $54,000 after buying an additional 1,085 shares in the last quarter. Finally, Headlands Technologies LLC boosted its stake in shares of Sinclair by 1,039.0% in the second quarter. Headlands Technologies LLC now owns 4,647 shares of the company’s stock valued at $62,000 after buying an additional 4,239 shares during the period. 41.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on SBGI shares. Guggenheim raised their price objective on Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price target on Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Wells Fargo & Company upgraded shares of Sinclair from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $13.00 to $19.00 in a research note on Thursday, November 7th. StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th. Finally, Rosenblatt Securities increased their price target on shares of Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Sinclair has an average rating of “Hold” and a consensus price target of $20.10.

Sinclair Stock Up 0.7 %

SBGI stock opened at $17.29 on Friday. The firm has a 50-day moving average price of $16.21 and a 200-day moving average price of $14.42. Sinclair, Inc. has a 12 month low of $11.13 and a 12 month high of $18.20. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. The stock has a market capitalization of $1.15 billion, a P/E ratio of -5.24, a price-to-earnings-growth ratio of 0.15 and a beta of 1.53.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $0.89 by $0.54. The business had revenue of $917.00 million during the quarter, compared to the consensus estimate of $923.02 million. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The firm’s revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.30) EPS. As a group, equities research analysts anticipate that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 5.78%. Sinclair’s payout ratio is presently -30.30%.

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.