Empowered Funds LLC Buys 11,883 Shares of Sinclair, Inc. (NASDAQ:SBGI)

Empowered Funds LLC boosted its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI) by 5.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 243,973 shares of the company’s stock after buying an additional 11,883 shares during the period. Empowered Funds LLC’s holdings in Sinclair were worth $3,938,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in Sinclair by 26.9% during the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after buying an additional 613 shares during the period. nVerses Capital LLC boosted its stake in Sinclair by 71.4% during the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $55,000 after buying an additional 1,500 shares during the period. Harbor Capital Advisors Inc. bought a new stake in Sinclair during the third quarter valued at $39,000. HighTower Advisors LLC boosted its stake in Sinclair by 15.4% during the third quarter. HighTower Advisors LLC now owns 28,463 shares of the company’s stock valued at $433,000 after buying an additional 3,801 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in Sinclair during the third quarter valued at $91,000. Institutional investors own 41.71% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Benchmark restated a “buy” rating and set a $30.00 price target on shares of Sinclair in a research report on Tuesday, January 28th. Guggenheim raised their price target on Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company upgraded Sinclair from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $13.00 to $19.00 in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sinclair currently has a consensus rating of “Hold” and an average price target of $20.10.

Sinclair Trading Down 2.6 %

NASDAQ SBGI opened at $14.38 on Thursday. The company has a market capitalization of $955.12 million, a price-to-earnings ratio of -4.36 and a beta of 1.55. The stock’s 50-day simple moving average is $15.89 and its two-hundred day simple moving average is $15.53. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. Sinclair, Inc. has a twelve month low of $11.13 and a twelve month high of $18.45.

Sinclair Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.25 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 6.95%. Sinclair’s dividend payout ratio is currently -30.30%.

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.