Bank of New York Mellon Corp Acquires 21,360 Shares of Sinclair, Inc. (NASDAQ:SBGI)

Bank of New York Mellon Corp boosted its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI) by 5.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 447,519 shares of the company’s stock after buying an additional 21,360 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.68% of Sinclair worth $5,965,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in Sinclair by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,889,863 shares of the company’s stock worth $24,626,000 after purchasing an additional 78,793 shares during the period. Alden Global Capital LLC increased its holdings in Sinclair by 86.1% in the 4th quarter. Alden Global Capital LLC now owns 645,400 shares of the company’s stock worth $8,410,000 after acquiring an additional 298,508 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Sinclair by 52.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 114,864 shares of the company’s stock worth $1,549,000 after acquiring an additional 39,624 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Sinclair in the first quarter worth approximately $1,359,000. Finally, NBC Securities Inc. increased its stake in shares of Sinclair by 35.1% in the fourth quarter. NBC Securities Inc. now owns 3,845 shares of the company’s stock worth $50,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Sinclair Stock Up 2.6 %

SBGI opened at $13.00 on Friday. The firm’s fifty day moving average is $13.88 and its 200 day moving average is $13.23. Sinclair, Inc. has a fifty-two week low of $9.39 and a fifty-two week high of $17.58. The stock has a market cap of $862.68 million, a price-to-earnings ratio of -1.83, a price-to-earnings-growth ratio of 0.11 and a beta of 1.54. The company has a debt-to-equity ratio of 14.93, a quick ratio of 1.78 and a current ratio of 1.78.

Sinclair (NASDAQ:SBGI) last released its earnings results on Wednesday, August 7th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.40. The firm had revenue of $829.00 million for the quarter, compared to the consensus estimate of $836.65 million. Sinclair had a negative net margin of 10.78% and a positive return on equity of 22.55%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.09) earnings per share. On average, sell-side analysts forecast that Sinclair, Inc. will post 4.57 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.69%. The ex-dividend date is Friday, August 30th. Sinclair’s dividend payout ratio (DPR) is presently -14.04%.

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.