Sinclair, Inc. (NASDAQ:SBGI) Stake Boosted by Quantbot Technologies LP

Quantbot Technologies LP boosted its stake in Sinclair, Inc. (NASDAQ:SBGI) by 103.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,365 shares of the company’s stock after buying an additional 13,390 shares during the period. Quantbot Technologies LP’s holdings in Sinclair were worth $403,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SBGI. Alden Global Capital LLC grew its position in Sinclair by 10.5% in the 2nd 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 in the last quarter. Gabelli Funds LLC lifted its position in Sinclair by 1.7% in the second quarter. Gabelli Funds LLC now owns 1,208,700 shares of the company’s stock worth $16,112,000 after purchasing an additional 20,700 shares during the period. Pinnacle Associates Ltd. boosted its stake in Sinclair by 2.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 642,738 shares of the company’s stock valued at $9,834,000 after purchasing an additional 14,384 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Sinclair by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 447,519 shares of the company’s stock valued at $5,965,000 after purchasing an additional 21,360 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of Sinclair by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 232,090 shares of the company’s stock worth $3,551,000 after buying an additional 11,792 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors.

Sinclair Trading Down 1.1 %

Shares of NASDAQ:SBGI opened at $17.67 on Wednesday. The firm has a fifty day moving average of $16.74 and a two-hundred day moving average of $14.58. The company has a quick ratio of 1.91, 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 $18.45. The firm has a market capitalization of $1.17 billion, a P/E ratio of -5.35, a price-to-earnings-growth ratio of 0.16 and a beta of 1.55.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $923.02 million. During the same period in the previous year, the company earned ($0.30) EPS. The firm’s revenue was up 19.6% on a year-over-year basis. On average, equities analysts expect that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 5.66%. Sinclair’s dividend payout ratio is currently -30.30%.

Wall Street Analyst Weigh In

SBGI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Rosenblatt Securities increased their target price 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. StockNews.com raised Sinclair from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. Wells Fargo & Company raised Sinclair from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $13.00 to $19.00 in a research note on Thursday, November 7th. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.