Sinclair, Inc. (NASDAQ:SBGI) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division trimmed its holdings in Sinclair, Inc. (NASDAQ:SBGI) by 55.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,500 shares of the company’s stock after selling 5,500 shares during the period. Central Pacific Bank Trust Division’s holdings in Sinclair were worth $73,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC acquired a new stake in shares of Sinclair during the 3rd quarter worth $1,605,000. Verition Fund Management LLC purchased a new stake in Sinclair during the third quarter valued at about $822,000. Barclays PLC increased its stake in Sinclair by 378.1% during the third quarter. Barclays PLC now owns 54,229 shares of the company’s stock worth $831,000 after acquiring an additional 42,887 shares during the last quarter. Empyrean Capital Partners LP purchased a new position in shares of Sinclair in the 2nd quarter worth about $2,873,000. Finally, Alden Global Capital LLC lifted its stake in shares of 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 purchasing an additional 116,074 shares in the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wells Fargo & Company raised shares of Sinclair from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $13.00 to $19.00 in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective 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 boosted their price objective on Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Guggenheim boosted their target price on shares of Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Benchmark increased their price target 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 issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.10.

Sinclair Stock Performance

Shares of SBGI opened at $17.14 on Monday. The stock has a market capitalization of $1.14 billion, a PE ratio of -5.19, a price-to-earnings-growth ratio of 0.15 and a beta of 1.57. The business’s fifty day moving average price is $16.91 and its 200 day moving average price is $15.25. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. Sinclair, Inc. has a 12-month low of $11.13 and a 12-month high of $18.45.

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 during the quarter, compared to analyst estimates of $923.02 million. During the same period in the previous year, the business posted ($0.30) EPS. The company’s quarterly revenue was up 19.6% on a year-over-year basis. Equities research analysts forecast that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.83%. The ex-dividend date of this dividend was Monday, December 2nd. Sinclair’s dividend payout ratio (DPR) is -30.30%.

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.