GAMMA Investing LLC Boosts Holdings in Sinclair, Inc. (NASDAQ:SBGI)

GAMMA Investing LLC increased its holdings in Sinclair, Inc. (NASDAQ:SBGI) by 81.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,283 shares of the company’s stock after purchasing an additional 1,026 shares during the period. GAMMA Investing LLC’s holdings in Sinclair were worth $35,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gamco Investors INC. ET AL boosted its position in Sinclair by 2.4% during 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 period. Capital Management Corp VA boosted its holdings in Sinclair by 36.7% during the 1st quarter. Capital Management Corp VA now owns 2,006,720 shares of the company’s stock valued at $27,031,000 after acquiring an additional 538,740 shares during the period. Alden Global Capital LLC boosted its holdings in Sinclair by 10.5% during the 2nd quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company’s stock valued at $16,341,000 after acquiring an additional 116,074 shares during the period. Gabelli Funds LLC grew its position in Sinclair by 1.7% during the 2nd quarter. Gabelli Funds LLC now owns 1,208,700 shares of the company’s stock worth $16,112,000 after acquiring an additional 20,700 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Sinclair by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 447,519 shares of the company’s stock worth $5,965,000 after purchasing an additional 21,360 shares during the period. Institutional investors own 41.71% of the company’s stock.

Sinclair Price Performance

Shares of Sinclair stock opened at $17.19 on Friday. The business has a 50 day moving average of $14.57 and a 200 day moving average of $13.70. Sinclair, Inc. has a 52 week low of $9.69 and a 52 week high of $17.98. The company has a market cap of $1.14 billion, a PE ratio of -3.14, a P/E/G ratio of 0.14 and a beta of 1.55. 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 (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 negative net margin of 10.78% and a positive return on equity of 22.55%. The firm had revenue of $829.00 million during the quarter, compared to analysts’ expectations of $836.65 million. During the same period last year, the company posted ($1.09) EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities research analysts forecast that Sinclair, Inc. will post 4.57 earnings per share for the current year.

Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.82%. The ex-dividend date was Friday, August 30th. Sinclair’s dividend payout ratio is currently -18.28%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SBGI. Benchmark raised their target price on shares of Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. StockNews.com raised shares of Sinclair from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. Finally, Rosenblatt Securities upped their price objective 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Sinclair presently has an average rating of “Hold” and a consensus target price of $19.88.

Sinclair 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.