Sinclair, Inc. (NASDAQ:SBGI) Shares Purchased by Legal & General Group Plc

Legal & General Group Plc grew its position in shares of Sinclair, Inc. (NASDAQ:SBGI) by 11.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,766 shares of the company’s stock after buying an additional 3,800 shares during the quarter. Legal & General Group Plc’s holdings in Sinclair were worth $593,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Trexquant Investment LP purchased a new position in Sinclair during the fourth quarter worth about $1,688,000. Vanguard Group Inc. lifted its holdings in shares of Sinclair by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 3,714,036 shares of the company’s stock valued at $59,945,000 after buying an additional 64,683 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Sinclair by 188.0% in the fourth quarter. JPMorgan Chase & Co. now owns 80,206 shares of the company’s stock valued at $1,295,000 after buying an additional 52,355 shares in the last quarter. San Luis Wealth Advisors LLC acquired a new position in Sinclair during the fourth quarter worth $791,000. Finally, Barclays PLC raised its position in Sinclair by 378.1% in the third quarter. Barclays PLC now owns 54,229 shares of the company’s stock worth $831,000 after acquiring an additional 42,887 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Sinclair Price Performance

Shares of Sinclair stock opened at $14.87 on Tuesday. The business’s fifty day moving average price is $14.73 and its 200 day moving average price is $15.73. Sinclair, Inc. has a twelve month low of $11.13 and a twelve month 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. The stock has a market capitalization of $988.39 million, a P/E ratio of -4.51 and a beta of 1.29.

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

Sinclair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.72%. The ex-dividend date of this dividend was Monday, March 10th. Sinclair’s dividend payout ratio is currently 21.46%.

Insider Buying and Selling at Sinclair

In related news, Chairman David D. Smith acquired 4,616 shares of Sinclair stock in a transaction on Thursday, March 20th. The shares were purchased at an average cost of $16.44 per share, for a total transaction of $75,887.04. Following the purchase, the chairman now directly owns 972,205 shares of the company’s stock, valued at $15,983,050.20. The trade was a 0.48 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired a total of 458,530 shares of company stock worth $6,636,392 in the last 90 days. 46.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SBGI has been the topic of several research analyst reports. Benchmark restated a “buy” rating and set a $30.00 target price on shares of Sinclair in a research report on Tuesday, January 28th. Guggenheim lowered their target price on shares of Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. StockNews.com downgraded shares of Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Wells Fargo & Company lowered their price target on Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.30.

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.