Barclays PLC Increases Holdings in Sinclair, Inc. (NASDAQ:SBGI)

Barclays PLC raised its holdings in Sinclair, Inc. (NASDAQ:SBGI) by 378.1% during the 3rd quarter, Holdings Channel reports. The firm owned 54,229 shares of the company’s stock after purchasing an additional 42,887 shares during the quarter. Barclays PLC’s holdings in Sinclair were worth $831,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in shares of Sinclair during the second quarter worth $28,000. GAMMA Investing LLC grew its position in Sinclair by 81.6% in the third quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock valued at $35,000 after acquiring an additional 1,026 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Sinclair during the 3rd quarter worth $39,000. Headlands Technologies LLC boosted its holdings in 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 purchasing an additional 4,239 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Sinclair during the third quarter worth approximately $91,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Sinclair Stock Up 3.3 %

SBGI opened at $16.14 on Wednesday. The stock’s fifty day moving average is $16.89 and its 200-day moving average is $15.16. The company has a market capitalization of $1.07 billion, a PE ratio of -4.89, a P/E/G ratio of 0.15 and a beta of 1.55. Sinclair, Inc. has a one year low of $11.13 and a one year high of $18.45. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91.

Sinclair (NASDAQ:SBGI) last released its earnings results on Wednesday, November 6th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.54. The business had revenue of $917.00 million for 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 business’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.30) EPS. On average, equities analysts predict that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 6.20%. Sinclair’s dividend payout ratio (DPR) is presently -30.30%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SBGI. JPMorgan Chase & Co. lifted their target price on Sinclair from $14.00 to $16.00 and gave the stock 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 note on Saturday, September 28th. Rosenblatt Securities boosted their price objective on Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Guggenheim raised their target price on Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, Benchmark increased their price target on Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Sinclair presently has a consensus rating of “Hold” and a consensus 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.