Kingsview Wealth Management LLC Decreases Position in Sinclair, Inc. (NASDAQ:SBGI)

Kingsview Wealth Management LLC lessened its holdings in Sinclair, Inc. (NASDAQ:SBGI) by 35.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 34,789 shares of the company’s stock after selling 19,192 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Sinclair were worth $532,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Sinclair by 52.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 114,864 shares of the company’s stock valued at $1,549,000 after purchasing an additional 39,624 shares in the last quarter. Prospect Financial Services LLC increased its position in Sinclair by 7.7% in the 2nd quarter. Prospect Financial Services LLC now owns 28,000 shares of the company’s stock valued at $373,000 after acquiring an additional 2,000 shares during the period. ARS Investment Partners LLC purchased a new stake in shares of Sinclair during the second quarter worth approximately $309,000. Williams Financial LLC purchased a new position in Sinclair during the 2nd quarter worth $217,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of Sinclair by 45.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 19,411 shares of the company’s stock worth $259,000 after acquiring an additional 6,065 shares during the period. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Sinclair Trading Down 0.3 %

Shares of SBGI opened at $18.05 on Thursday. Sinclair, Inc. has a 1-year low of $11.13 and a 1-year high of $18.45. 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 firm has a 50 day simple moving average of $16.45 and a 200-day simple moving average of $14.49. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -5.47, a price-to-earnings-growth ratio of 0.16 and a beta of 1.53.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.54. The company had revenue of $917.00 million during the quarter, compared to analysts’ expectations of $923.02 million. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.30) earnings per share. Equities analysts forecast 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 will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 5.54%. Sinclair’s dividend payout ratio is currently -30.30%.

Wall Street Analyst Weigh In

SBGI has been the subject of a number of analyst reports. StockNews.com raised Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. Guggenheim increased their price objective on Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Rosenblatt Securities boosted their target price 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. JPMorgan Chase & Co. increased their target price on shares of Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company raised 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Sinclair currently has a consensus rating of “Hold” and a consensus target price of $20.10.

Sinclair 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.