Rhumbline Advisers Reduces Stock Position in Sinclair, Inc. (NASDAQ:SBGI)

Rhumbline Advisers trimmed its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI) by 12.2% in the second quarter, Holdings Channel reports. The institutional investor owned 52,138 shares of the company’s stock after selling 7,247 shares during the period. Rhumbline Advisers’ holdings in Sinclair were worth $695,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Sinclair by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 648,481 shares of the company’s stock valued at $8,450,000 after buying an additional 13,874 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Sinclair by 4.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,889,863 shares of the company’s stock worth $24,626,000 after buying an additional 78,793 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Sinclair by 29.6% during the 4th quarter. Principal Financial Group Inc. now owns 36,926 shares of the company’s stock worth $481,000 after purchasing an additional 8,436 shares in the last quarter. Boulder Hill Capital Management LP acquired a new stake in shares of Sinclair during the 4th quarter valued at approximately $147,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Sinclair during the fourth quarter worth $468,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SBGI shares. Benchmark increased their price target on Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com downgraded shares of Sinclair from a “hold” rating to a “sell” rating in a research note on Friday, September 20th. Finally, Rosenblatt Securities increased their price objective on shares of Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Sinclair currently has a consensus rating of “Hold” and a consensus price target of $19.88.

Sinclair Price Performance

Shares of SBGI opened at $14.77 on Wednesday. The stock has a 50 day moving average of $13.86 and a 200-day moving average of $13.24. Sinclair, Inc. has a 52 week low of $9.39 and a 52 week high of $17.58. The firm has a market cap of $977.45 million, a price-to-earnings ratio of -2.07, a PEG ratio of 0.12 and a beta of 1.54. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 14.93.

Sinclair (NASDAQ:SBGI) last posted its earnings results on Wednesday, August 7th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.40. Sinclair had a positive return on equity of 22.55% and a negative net margin of 10.78%. The company had revenue of $829.00 million during the quarter, compared to analyst estimates of $836.65 million. During the same period in the prior year, the company earned ($1.09) earnings per share. The business’s revenue was up 7.9% compared to the same quarter last year. As a group, analysts forecast that Sinclair, Inc. will post 4.57 EPS for the current year.

Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.77%. Sinclair’s dividend payout ratio (DPR) is presently -14.04%.

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.