SG Americas Securities LLC Invests $310,000 in Sinclair, Inc. (NASDAQ:SBGI)

SG Americas Securities LLC acquired a new stake in Sinclair, Inc. (NASDAQ:SBGI) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 20,238 shares of the company’s stock, valued at approximately $310,000.

A number of other large investors have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its stake in shares of Sinclair by 52.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 114,864 shares of the company’s stock valued at $1,549,000 after acquiring an additional 39,624 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Sinclair during the 1st quarter worth about $1,359,000. Allspring Global Investments Holdings LLC lifted its holdings in Sinclair by 92.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,706 shares of the company’s stock worth $144,000 after buying an additional 5,147 shares during the period. Empyrean Capital Partners LP bought a new stake in shares of Sinclair in the 2nd quarter valued at about $2,873,000. Finally, Alden Global Capital LLC increased its stake in shares of Sinclair by 10.5% in the second quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company’s stock valued at $16,341,000 after buying an additional 116,074 shares during the period. Institutional investors own 41.71% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Benchmark upped their target price on Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a report on Monday, September 23rd. 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 research note on Friday, September 20th. Finally, StockNews.com raised shares of Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $19.88.

Sinclair Price Performance

Shares of SBGI opened at $17.19 on Friday. The firm has a market cap of $1.14 billion, a PE ratio of -2.41, a price-to-earnings-growth ratio of 0.14 and a beta of 1.55. Sinclair, Inc. has a 52-week low of $9.69 and a 52-week high of $17.98. The business’s 50 day moving average price is $14.57 and its two-hundred day moving average price is $13.71. The company has a debt-to-equity ratio of 14.93, a quick ratio of 1.78 and a current ratio of 1.78.

Sinclair (NASDAQ:SBGI) last released its earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.40. The company had revenue of $829.00 million for the quarter, compared to the consensus estimate of $836.65 million. Sinclair had a negative net margin of 10.78% and a positive return on equity of 22.55%. Sinclair’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.09) EPS. On average, equities analysts anticipate that Sinclair, Inc. will post 4.57 EPS for the current year.

Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date of this dividend was Friday, August 30th. Sinclair’s payout ratio is -14.04%.

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.