Susquehanna Fundamental Investments LLC Sells 15,619 Shares of Sinclair, Inc. (NASDAQ:SBGI)

Susquehanna Fundamental Investments LLC lessened its position in Sinclair, Inc. (NASDAQ:SBGI) by 15.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 85,306 shares of the company’s stock after selling 15,619 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Sinclair were worth $1,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBGI. EntryPoint Capital LLC increased its position in Sinclair by 37.2% in the 1st quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock worth $54,000 after buying an additional 1,085 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Sinclair by 29.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,330 shares of the company’s stock worth $111,000 after acquiring an additional 1,898 shares during the period. Prospect Financial Services LLC raised its stake in Sinclair by 7.7% during the 2nd quarter. Prospect Financial Services LLC now owns 28,000 shares of the company’s stock valued at $373,000 after purchasing an additional 2,000 shares during the last quarter. nVerses Capital LLC acquired a new position in Sinclair during the 2nd quarter valued at $28,000. Finally, Principal Financial Group Inc. boosted its holdings in Sinclair by 14.0% in the 2nd quarter. Principal Financial Group Inc. now owns 23,248 shares of the company’s stock valued at $310,000 after purchasing an additional 2,847 shares during the period. Institutional investors and hedge funds own 41.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SBGI shares. StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a report on Saturday. Benchmark upped 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. Finally, Rosenblatt Securities lifted their price objective on Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $19.88.

Sinclair Stock Performance

NASDAQ:SBGI opened at $15.20 on Wednesday. The firm has a market capitalization of $1.01 billion, a PE ratio of -2.13, a price-to-earnings-growth ratio of 0.13 and a beta of 1.54. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 14.93. Sinclair, Inc. has a 12-month low of $9.39 and a 12-month high of $17.58. The firm has a 50-day moving average price of $13.89 and a 200 day moving average price of $13.29.

Sinclair (NASDAQ:SBGI) last posted 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. Sinclair had a positive return on equity of 22.55% and a negative net margin of 10.78%. The business had revenue of $829.00 million during the quarter, compared to the consensus estimate of $836.65 million. During the same quarter last year, the company earned ($1.09) EPS. Sinclair’s revenue was up 7.9% on a year-over-year basis. Research analysts anticipate that Sinclair, Inc. will post 4.57 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given 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 6.58%. Sinclair’s payout ratio is -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.