GABELLI & Co INVESTMENT ADVISERS INC. Has $641,000 Stock Position in Sinclair, Inc. (NASDAQ:SBGI)

GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in shares of Sinclair, Inc. (NASDAQ:SBGI) by 223.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 39,725 shares of the company’s stock after buying an additional 27,425 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Sinclair were worth $641,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SBGI. Vanguard Group Inc. raised its stake in shares of Sinclair by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 3,714,036 shares of the company’s stock worth $59,945,000 after buying an additional 64,683 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Sinclair by 1.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 3,704,282 shares of the company’s stock worth $59,787,000 after purchasing an additional 55,350 shares during the period. Geode Capital Management LLC boosted its holdings in Sinclair by 1.9% during the third quarter. Geode Capital Management LLC now owns 826,949 shares of the company’s stock worth $12,655,000 after buying an additional 15,263 shares during the last quarter. Empowered Funds LLC raised its position in shares of Sinclair by 5.1% in the 4th quarter. Empowered Funds LLC now owns 243,973 shares of the company’s stock valued at $3,938,000 after acquiring an additional 11,883 shares during the period. Finally, Inspire Advisors LLC grew its holdings in Sinclair by 6.3% during the fourth quarter. Inspire Advisors LLC now owns 121,255 shares of the company’s stock valued at $1,957,000 after purchasing an additional 7,207 shares during the period. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on SBGI. Wells Fargo & Company dropped their price objective on Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Guggenheim cut their price objective on Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, March 10th. StockNews.com cut Sinclair from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Benchmark reaffirmed a “buy” rating and issued a $30.00 price target on shares of Sinclair in a research note on Tuesday, January 28th. 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $19.30.

Sinclair Trading Up 5.3 %

Shares of NASDAQ:SBGI opened at $14.40 on Tuesday. The company’s 50-day moving average price is $14.82 and its two-hundred day moving average price is $15.87. Sinclair, Inc. has a one year low of $11.13 and a one year high of $18.46. 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 stock has a market capitalization of $957.15 million, a PE ratio of -4.36 and a beta of 1.29.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.62. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. On average, equities analysts forecast that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.94%. The ex-dividend date was Monday, March 10th. Sinclair’s dividend payout ratio (DPR) is presently 21.46%.

Insider Transactions at Sinclair

In other Sinclair news, Chairman David D. Smith purchased 30,296 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $14.09 per share, with a total value of $426,870.64. Following the acquisition, the chairman now directly owns 728,986 shares of the company’s stock, valued at $10,271,412.74. This trade represents a 4.34 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have bought 458,530 shares of company stock worth $6,636,392 in the last ninety days. Insiders own 46.60% of the company’s stock.

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.