Dimensional Fund Advisors LP Has $23.31 Million Stake in Sinclair, Inc. (NASDAQ:SBGI)

Dimensional Fund Advisors LP reduced its stake in Sinclair, Inc. (NASDAQ:SBGI) by 13.7% during the second quarter, HoldingsChannel reports. The firm owned 1,748,789 shares of the company’s stock after selling 277,762 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Sinclair were worth $23,308,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SBGI. Capital Management Corp VA lifted its stake in Sinclair by 36.7% in the 1st quarter. Capital Management Corp VA now owns 2,006,720 shares of the company’s stock valued at $27,031,000 after purchasing an additional 538,740 shares during the last quarter. Alden Global Capital LLC lifted its stake in shares of Sinclair by 86.1% in the 4th quarter. Alden Global Capital LLC now owns 645,400 shares of the company’s stock valued at $8,410,000 after acquiring an additional 298,508 shares during the last quarter. Inspire Advisors LLC acquired a new stake in shares of Sinclair during the 2nd quarter valued at $1,552,000. Susquehanna Fundamental Investments LLC bought a new stake in Sinclair during the 1st quarter worth $1,359,000. Finally, Gamco Investors INC. ET AL increased its holdings in Sinclair by 2.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 3,591,266 shares of the company’s stock worth $48,374,000 after purchasing an additional 85,070 shares in the last quarter. 41.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SBGI. StockNews.com raised Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. Benchmark lifted their target price on shares of Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, Rosenblatt Securities upped their price target on shares of Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.88.

Sinclair Stock Performance

NASDAQ:SBGI opened at $16.01 on Friday. The company has a debt-to-equity ratio of 14.93, a quick ratio of 1.78 and a current ratio of 1.78. Sinclair, Inc. has a fifty-two week low of $9.39 and a fifty-two week high of $17.58. The company has a 50 day simple moving average of $13.93 and a two-hundred day simple moving average of $13.35. The company has a market capitalization of $1.06 billion, a PE ratio of -2.25, a P/E/G ratio of 0.13 and a beta of 1.54.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.40. Sinclair had a negative net margin of 10.78% and a positive return on equity of 22.55%. The company had revenue of $829.00 million for the quarter, compared to analyst estimates of $836.65 million. During the same period in the prior year, the firm posted ($1.09) EPS. The company’s quarterly revenue was up 7.9% on a year-over-year basis. Research analysts anticipate that Sinclair, Inc. will post 4.57 earnings per share for the current year.

Sinclair Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.25%. The ex-dividend date was Friday, August 30th. Sinclair’s dividend payout ratio (DPR) is presently -14.04%.

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.