HighTower Advisors LLC Acquires 5,587 Shares of Sinclair, Inc. (NASDAQ:SBGI)

HighTower Advisors LLC grew its holdings in Sinclair, Inc. (NASDAQ:SBGI) by 19.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,050 shares of the company’s stock after acquiring an additional 5,587 shares during the quarter. HighTower Advisors LLC’s holdings in Sinclair were worth $550,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Sinclair by 26.9% in the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after purchasing an additional 613 shares during the period. Point72 DIFC Ltd bought a new position in Sinclair in the third quarter valued at approximately $91,000. New York State Common Retirement Fund boosted its holdings in shares of Sinclair by 29.4% in the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock valued at $121,000 after buying an additional 1,700 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Sinclair during the third quarter worth $121,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Sinclair during the fourth quarter worth $262,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Sinclair from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Guggenheim cut their price target on Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Benchmark reiterated a “buy” rating and set a $30.00 price objective on shares of Sinclair in a report on Tuesday, January 28th. Finally, Wells Fargo & Company dropped their target price on Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Sinclair presently has a consensus rating of “Hold” and a consensus target price of $19.30.

Sinclair Trading Down 0.3 %

Shares of NASDAQ:SBGI opened at $15.63 on Friday. The company’s 50-day moving average price is $14.92 and its two-hundred day moving average price is $15.85. Sinclair, Inc. has a one year low of $11.13 and a one year high of $18.46. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. The stock has a market capitalization of $1.04 billion, a PE ratio of -4.74 and a beta of 1.50.

Sinclair (NASDAQ:SBGI) last released its earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.62. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. On average, equities analysts forecast that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.40%. The ex-dividend date was Monday, March 10th. Sinclair’s payout ratio is presently 21.46%.

Insider Activity at Sinclair

In other news, Chairman David D. Smith bought 17,902 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were bought at an average cost of $16.45 per share, with a total value of $294,487.90. Following the acquisition, the chairman now owns 1,082,771 shares in the company, valued at $17,811,582.95. This trade represents a 1.68 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders bought 262,541 shares of company stock valued at $3,844,778. 46.60% of the stock is owned by corporate insiders.

Sinclair Company 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.