Sinclair, Inc. (NASDAQ:SBGI) Position Lifted by Alden Global Capital LLC

Alden Global Capital LLC lifted its position in Sinclair, Inc. (NASDAQ:SBGI) by 10.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,225,868 shares of the company’s stock after purchasing an additional 116,074 shares during the quarter. Sinclair comprises about 13.5% of Alden Global Capital LLC’s holdings, making the stock its 2nd biggest holding. Alden Global Capital LLC’s holdings in Sinclair were worth $16,341,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Management Corp VA raised its position in Sinclair by 36.7% in the first quarter. Capital Management Corp VA now owns 2,006,720 shares of the company’s stock valued at $27,031,000 after purchasing an additional 538,740 shares during the period. Inspire Advisors LLC acquired a new stake in shares of Sinclair during the 2nd quarter worth about $1,552,000. Susquehanna Fundamental Investments LLC purchased a new stake in Sinclair in the 1st quarter valued at about $1,359,000. Gamco Investors INC. ET AL lifted its position in Sinclair by 2.4% in the first quarter. Gamco Investors INC. ET AL now owns 3,591,266 shares of the company’s stock valued at $48,374,000 after buying an additional 85,070 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Sinclair by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,889,863 shares of the company’s stock valued at $24,626,000 after buying an additional 78,793 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Sinclair Stock Up 2.7 %

Sinclair stock opened at $14.77 on Wednesday. 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, Inc. has a 52-week low of $9.39 and a 52-week high of $17.58. The company’s 50 day moving average is $13.86 and its two-hundred day moving average is $13.24.

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

Sinclair Dividend Announcement

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

Analyst Ratings Changes

SBGI has been the topic of a number of research analyst reports. Rosenblatt Securities boosted their price target 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. Benchmark boosted their target price on Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Monday. Finally, StockNews.com lowered Sinclair from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Sinclair currently has a consensus rating of “Hold” and a consensus price target of $19.88.

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.