Quantbot Technologies LP Buys 13,390 Shares of Sinclair, Inc. (NASDAQ:SBGI)

Quantbot Technologies LP raised its position in Sinclair, Inc. (NASDAQ:SBGI) by 103.2% in the third quarter, HoldingsChannel.com reports. The fund owned 26,365 shares of the company’s stock after purchasing an additional 13,390 shares during the quarter. Quantbot Technologies LP’s holdings in Sinclair were worth $403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. nVerses Capital LLC bought a new position in shares of Sinclair in the 2nd quarter valued at $28,000. GAMMA Investing LLC raised its holdings in Sinclair by 81.6% during the third quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock worth $35,000 after buying an additional 1,026 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in Sinclair during the 3rd quarter worth $39,000. Headlands Technologies LLC grew its position in Sinclair by 1,039.0% during 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Sinclair by 29.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,330 shares of the company’s stock valued at $111,000 after acquiring an additional 1,898 shares during the period. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on SBGI. JPMorgan Chase & Co. increased their price target on shares of Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. StockNews.com raised shares of Sinclair from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th. Rosenblatt Securities raised their price objective on shares of Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a report on Friday, September 20th. Benchmark boosted their price objective on Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, Wells Fargo & Company raised Sinclair from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $13.00 to $19.00 in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.10.

Sinclair Stock Performance

NASDAQ SBGI opened at $17.67 on Wednesday. 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 cap of $1.17 billion, a PE ratio of -5.35, a P/E/G ratio of 0.16 and a beta of 1.55. Sinclair, Inc. has a twelve month low of $11.13 and a twelve month high of $18.45. The stock has a fifty day simple moving average of $16.74 and a 200-day simple moving average of $14.58.

Sinclair (NASDAQ:SBGI) last released its earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.54. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The company had revenue of $917.00 million for the quarter, compared to analysts’ expectations of $923.02 million. During the same quarter in the previous year, the firm posted ($0.30) EPS. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. Equities analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Dividend Announcement

The business also recently declared 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 dividend yield of 5.66%. Sinclair’s dividend payout ratio (DPR) is presently -30.30%.

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.