Verition Fund Management LLC Purchases Shares of 53,740 Sinclair, Inc. (NASDAQ:SBGI)

Verition Fund Management LLC acquired a new stake in shares of Sinclair, Inc. (NASDAQ:SBGI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 53,740 shares of the company’s stock, valued at approximately $822,000. Verition Fund Management LLC owned about 0.08% of Sinclair as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. nVerses Capital LLC bought a new position in Sinclair during the second quarter valued at approximately $28,000. GAMMA Investing LLC lifted its holdings in shares of Sinclair by 81.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock valued at $35,000 after acquiring an additional 1,026 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Sinclair in the 3rd quarter worth approximately $39,000. Headlands Technologies LLC boosted its stake in Sinclair by 1,039.0% during the second quarter. Headlands Technologies LLC now owns 4,647 shares of the company’s stock worth $62,000 after buying an additional 4,239 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Sinclair by 29.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,330 shares of the company’s stock worth $111,000 after purchasing an additional 1,898 shares during the period. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on SBGI shares. Wells Fargo & Company upgraded shares of Sinclair from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $13.00 to $19.00 in a research note on Thursday, November 7th. StockNews.com raised Sinclair from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th. JPMorgan Chase & Co. lifted their price objective on Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Benchmark lifted their price objective on shares of Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, Rosenblatt Securities upped their target price on Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Sinclair presently has a consensus rating of “Hold” and a consensus target price of $20.10.

Sinclair Trading Down 2.4 %

NASDAQ:SBGI opened at $17.64 on Tuesday. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -5.35, a PEG ratio of 0.16 and a beta of 1.55. Sinclair, Inc. has a 52 week low of $11.13 and a 52 week high of $18.45. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. The firm has a 50 day moving average of $16.95 and a 200 day moving average of $14.71.

Sinclair (NASDAQ:SBGI) last announced its 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. The company had revenue of $917.00 million for the quarter, compared to analyst estimates of $923.02 million. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The firm’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.30) EPS. As a group, sell-side analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share 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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.67%. The ex-dividend date of this dividend is Monday, December 2nd. Sinclair’s dividend payout ratio is presently -30.30%.

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.