Sinclair, Inc. (NASDAQ:SBGI) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI) by 15.4% during the fourth quarter, Holdings Channel reports. The fund owned 10,562 shares of the company’s stock after selling 1,927 shares during the quarter. Hsbc Holdings PLC’s holdings in Sinclair were worth $170,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. GAMMA Investing LLC grew its stake in Sinclair by 26.9% during 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 in the last quarter. Federated Hermes Inc. purchased a new position in shares of Sinclair during the 4th quarter valued at approximately $47,000. New York State Common Retirement Fund grew its position in shares of Sinclair by 29.4% during the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock worth $121,000 after buying an additional 1,700 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Sinclair during the fourth quarter worth approximately $123,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Sinclair in the fourth quarter worth $194,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. StockNews.com downgraded shares of Sinclair from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Benchmark reduced their price target on shares of Sinclair from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company decreased their price target on Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Finally, Guggenheim cut their price objective on Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. One 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. According to data from MarketBeat.com, Sinclair currently has a consensus rating of “Hold” and a consensus price target of $19.10.

Sinclair Stock Up 2.1%

Shares of NASDAQ:SBGI opened at $15.25 on Monday. The company’s fifty day moving average is $14.86 and its two-hundred day moving average is $15.61. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. Sinclair, Inc. has a 1-year low of $11.13 and a 1-year high of $18.46. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -4.62 and a beta of 1.36.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($2.18) earnings per share for the quarter, missing the consensus estimate of ($1.78) by ($0.40). Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The business had revenue of $776.00 million for the quarter, compared to analyst estimates of $774.79 million. During the same quarter last year, the company earned $0.35 EPS. Sinclair’s revenue was down 2.8% compared to the same quarter last year. Equities analysts anticipate that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.56%. The ex-dividend date of this dividend is Friday, May 30th. Sinclair’s dividend payout ratio (DPR) is 49.75%.

Insider Activity at Sinclair

In related news, Chairman David D. Smith bought 30,296 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $14.09 per share, with a total value of $426,870.64. Following the completion of the transaction, the chairman now directly owns 728,986 shares of the company’s stock, valued at approximately $10,271,412.74. This represents a 4.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders purchased 458,530 shares of company stock worth $6,636,392 in the last 90 days. 41.90% of the stock is currently owned by company insiders.

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.