Sinclair, Inc. (NASDAQ:SBGI) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC lifted its stake in Sinclair, Inc. (NASDAQ:SBGI) by 5.4% during the third quarter, Holdings Channel reports. The institutional investor owned 232,090 shares of the company’s stock after acquiring an additional 11,792 shares during the quarter. Empowered Funds LLC’s holdings in Sinclair were worth $3,551,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. GAMMA Investing LLC boosted its stake in shares of Sinclair by 81.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock worth $35,000 after acquiring an additional 1,026 shares in the last quarter. EntryPoint Capital LLC boosted its position in Sinclair by 37.2% during the first quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock worth $54,000 after purchasing an additional 1,085 shares in the last quarter. nVerses Capital LLC grew its holdings in Sinclair by 71.4% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $55,000 after purchasing an additional 1,500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in 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 purchasing an additional 1,898 shares during the period. Finally, Prospect Financial Services LLC increased its position in shares of Sinclair by 7.7% in the second quarter. Prospect Financial Services LLC now owns 28,000 shares of the company’s stock valued at $373,000 after buying an additional 2,000 shares in the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Sinclair Stock Performance

SBGI opened at $15.93 on Tuesday. Sinclair, Inc. has a twelve month low of $11.13 and a twelve month high of $18.20. The firm has a market capitalization of $1.06 billion, a PE ratio of -4.90, a PEG ratio of 0.14 and a beta of 1.53. The company has a current ratio of 1.91, a quick ratio of 1.78 and a debt-to-equity ratio of 11.73. The firm’s 50-day moving average price is $15.86 and its 200 day moving average price is $14.32.

Sinclair (NASDAQ:SBGI) last issued its earnings results 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. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The business had revenue of $917.00 million for the quarter, compared to analysts’ expectations of $923.02 million. During the same period in the previous year, the firm posted ($0.30) EPS. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. As a group, sell-side analysts expect that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date is Monday, December 2nd. Sinclair’s dividend payout ratio (DPR) is presently -30.30%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SBGI shares. StockNews.com raised shares of Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. Benchmark lifted their target price on shares of Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Rosenblatt Securities upped their price target on shares of Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Wells Fargo & Company upgraded 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 report on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their target price on Sinclair from $14.00 to $16.00 and gave the company 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 one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.38.

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.