State Street Corp Purchases 1,482 Shares of Sinclair, Inc. (NASDAQ:SBGI)

State Street Corp grew its position in shares of Sinclair, Inc. (NASDAQ:SBGI) by 0.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 883,873 shares of the company’s stock after buying an additional 1,482 shares during the quarter. State Street Corp’s holdings in Sinclair were worth $13,523,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBGI. Point72 DIFC Ltd bought a new position in Sinclair during the third quarter valued at about $91,000. Point72 Asset Management L.P. purchased a new position in Sinclair in the third quarter valued at approximately $2,110,000. Parallax Volatility Advisers L.P. grew its holdings in Sinclair by 38.9% during the third quarter. Parallax Volatility Advisers L.P. now owns 52,472 shares of the company’s stock valued at $803,000 after purchasing an additional 14,683 shares during the period. HighTower Advisors LLC increased its position in Sinclair by 15.4% in the third quarter. HighTower Advisors LLC now owns 28,463 shares of the company’s stock worth $433,000 after buying an additional 3,801 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Sinclair during the 3rd quarter valued at $121,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Sinclair Price Performance

NASDAQ:SBGI opened at $15.91 on Thursday. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -4.82, a P/E/G ratio of 0.15 and a beta of 1.55. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. The stock has a fifty day moving average of $17.01 and a 200 day moving average of $15.02. Sinclair, Inc. has a 52-week low of $11.13 and a 52-week high of $18.45.

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

Sinclair Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.29%. The ex-dividend date was Monday, December 2nd. Sinclair’s dividend payout ratio is currently -30.30%.

Analyst Ratings Changes

Several research firms have commented on SBGI. Rosenblatt Securities upped their price objective on shares of Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a report on Friday, September 20th. Guggenheim increased their target price on Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Wells Fargo & Company upgraded Sinclair from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $13.00 to $19.00 in a research report on Thursday, November 7th. Benchmark increased their price objective on Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Sinclair currently has a consensus rating of “Hold” and an average target price of $20.10.

Sinclair Company 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.