Gamco Investors INC. ET AL Cuts Stock Holdings in Sinclair, Inc. (NASDAQ:SBGI)

Gamco Investors INC. ET AL lowered its stake in shares of Sinclair, Inc. (NASDAQ:SBGIFree Report) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,506,196 shares of the company’s stock after selling 18,547 shares during the quarter. Gamco Investors INC. ET AL owned 0.06% of Sinclair worth $45,686,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Alden Global Capital LLC increased its holdings in Sinclair by 86.1% in the fourth quarter. Alden Global Capital LLC now owns 645,400 shares of the company’s stock valued at $8,410,000 after buying an additional 298,508 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Sinclair during the fourth quarter worth about $468,000. Boulder Hill Capital Management LP purchased a new position in shares of Sinclair during the fourth quarter worth about $147,000. Balboa Wealth Partners purchased a new position in shares of Sinclair during the fourth quarter worth about $151,000. Finally, WBI Investments LLC grew its holdings in shares of Sinclair by 34.5% during the fourth quarter. WBI Investments LLC now owns 87,158 shares of the company’s stock worth $1,136,000 after purchasing an additional 22,348 shares during the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Sinclair Trading Down 3.6 %

SBGI stock traded down $0.44 during midday trading on Thursday, hitting $11.77. The stock had a trading volume of 215,677 shares, compared to its average volume of 434,959. The firm has a market cap of $778.94 million, a PE ratio of -1.71, a price-to-earnings-growth ratio of 0.23 and a beta of 1.54. The company has a debt-to-equity ratio of 15.29, a current ratio of 1.42 and a quick ratio of 1.42. Sinclair, Inc. has a 12-month low of $9.39 and a 12-month high of $17.58. The company’s 50-day moving average price is $12.98 and its 200 day moving average price is $13.59.

Sinclair (NASDAQ:SBGIGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.97. The company had revenue of $798.00 million for the quarter, compared to analyst estimates of $798.68 million. Sinclair had a negative net margin of 14.34% and a negative return on equity of 2.65%. On average, equities research analysts predict that Sinclair, Inc. will post 3.75 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.00 annualized dividend and a dividend yield of 8.50%. Sinclair’s payout ratio is -14.04%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SBGI shares. StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Wells Fargo & Company raised their price objective on shares of Sinclair from $12.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $18.14.

Read Our Latest Research Report on Sinclair

Sinclair Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Sinclair (NASDAQ:SBGI)

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