Sinclair, Inc. (NASDAQ:SBGI) Position Reduced by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its position in shares of Sinclair, Inc. (NASDAQ:SBGI) by 12.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 23,466 shares of the company’s stock after selling 3,200 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Sinclair were worth $359,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBGI. Empyrean Capital Partners LP acquired a new position in Sinclair in the second quarter worth approximately $2,873,000. Inspire Advisors LLC acquired a new position in Sinclair in the second quarter worth approximately $1,552,000. Alden Global Capital LLC grew its position in Sinclair by 10.5% in the second quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company’s stock worth $16,341,000 after buying an additional 116,074 shares during the last quarter. Gamco Investors INC. ET AL grew its position in Sinclair by 2.4% in the first quarter. Gamco Investors INC. ET AL now owns 3,591,266 shares of the company’s stock worth $48,374,000 after buying an additional 85,070 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Sinclair by 52.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 114,864 shares of the company’s stock worth $1,549,000 after buying an additional 39,624 shares during the last quarter. Institutional investors own 41.71% of the company’s stock.

Sinclair Trading Down 1.2 %

Sinclair stock opened at $16.18 on Monday. The company’s fifty day simple moving average is $15.86 and its 200-day simple moving average is $14.31. The company has a quick ratio of 1.78, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. Sinclair, Inc. has a 12 month low of $11.13 and a 12 month high of $18.20. The stock has a market cap of $1.07 billion, a P/E ratio of -4.90, a P/E/G ratio of 0.14 and a beta of 1.53.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $0.89 by $0.54. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. 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 company posted ($0.30) EPS. Sinclair’s revenue was up 19.6% on a year-over-year basis. As a group, sell-side analysts forecast that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date of this dividend is Monday, December 2nd. Sinclair’s dividend payout ratio is -30.30%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Rosenblatt Securities lifted their price objective 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 shares of 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 research report on Thursday, November 7th. Benchmark lifted their price objective on shares of Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $20.38.

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.