Centiva Capital LP Decreases Position in Sinclair, Inc. (NASDAQ:SBGI)

Centiva Capital LP lessened its holdings in Sinclair, Inc. (NASDAQ:SBGI) by 13.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,198 shares of the company’s stock after selling 3,189 shares during the quarter. Centiva Capital LP’s holdings in Sinclair were worth $309,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SBGI. ARS Investment Partners LLC purchased a new position in Sinclair in the 2nd quarter worth $309,000. Williams Financial LLC purchased a new position in Sinclair in the 2nd quarter worth $217,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Sinclair by 45.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 19,411 shares of the company’s stock valued at $259,000 after acquiring an additional 6,065 shares during the period. Bank of New York Mellon Corp increased its position in shares of Sinclair by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 447,519 shares of the company’s stock valued at $5,965,000 after acquiring an additional 21,360 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Sinclair by 29.5% in the second 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. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Sinclair Price Performance

Shares of NASDAQ SBGI opened at $18.30 on Wednesday. Sinclair, Inc. has a 1 year low of $11.13 and a 1 year high of $18.45. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. The company’s 50-day moving average is $16.95 and its 200 day moving average is $14.71. The stock has a market capitalization of $1.22 billion, a P/E ratio of -5.55, a P/E/G ratio of 0.16 and a beta of 1.55.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.54. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. 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 company earned ($0.30) earnings per share. Sinclair’s quarterly revenue was up 19.6% on a year-over-year basis. On average, sell-side analysts expect that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.46%. The ex-dividend date is Monday, December 2nd. Sinclair’s payout ratio is currently -30.30%.

Wall Street Analyst Weigh In

SBGI has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th. Guggenheim boosted their price objective on shares of Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Wells Fargo & Company upgraded shares of Sinclair from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $13.00 to $19.00 in a research report on Thursday, November 7th. Finally, Rosenblatt Securities boosted their price objective 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 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 MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.10.

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.