Sinclair, Inc. (NASDAQ:SBGI) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its position in Sinclair, Inc. (NASDAQ:SBGI) by 0.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 825,416 shares of the company’s stock after selling 1,533 shares during the period. Geode Capital Management LLC’s holdings in Sinclair were worth $13,326,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Sinclair by 26.9% in the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock worth $47,000 after acquiring an additional 613 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Sinclair by 29.4% in the 4th quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock valued at $121,000 after purchasing an additional 1,700 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Sinclair during the fourth quarter worth $123,000. EntryPoint Capital LLC bought a new position in shares of Sinclair during the fourth quarter valued at approximately $194,000. Finally, Aigen Investment Management LP bought a new stake in Sinclair in the 4th quarter valued at about $262,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Insider Activity

In other news, Chairman David D. Smith bought 30,296 shares of the stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $14.09 per share, with a total value of $426,870.64. Following the acquisition, the chairman now owns 728,986 shares in the company, valued at $10,271,412.74. This trade represents a 4.34 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders acquired 458,530 shares of company stock worth $6,636,392. 46.60% of the stock is currently owned by corporate insiders.

Sinclair Price Performance

Shares of Sinclair stock opened at $13.87 on Tuesday. The stock has a market capitalization of $921.93 million, a price-to-earnings ratio of -4.20 and a beta of 1.29. The firm has a fifty day simple moving average of $14.77 and a 200-day simple moving average of $15.81. Sinclair, Inc. has a 1-year low of $11.13 and a 1-year high of $18.46. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73.

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

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were paid a $0.25 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.21%. Sinclair’s payout ratio is 21.46%.

Analyst Ratings Changes

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

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.