Sinclair, Inc. (NASDAQ:SBGI) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its position in Sinclair, Inc. (NASDAQ:SBGI) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,148,500 shares of the company’s stock after selling 14,700 shares during the quarter. Gabelli Funds LLC’s holdings in Sinclair were worth $18,537,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in Sinclair by 26.9% in 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 last quarter. New York State Common Retirement Fund lifted its holdings 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 worth $121,000 after acquiring an additional 1,700 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Sinclair by 8.5% during the 4th quarter. Wells Fargo & Company MN now owns 33,548 shares of the company’s stock worth $541,000 after purchasing an additional 2,620 shares during the period. Federated Hermes Inc. acquired a new stake in Sinclair in the 4th quarter valued at approximately $47,000. Finally, Barclays PLC raised its position in Sinclair by 6.9% in the fourth quarter. Barclays PLC now owns 57,974 shares of the company’s stock valued at $935,000 after purchasing an additional 3,745 shares during the period. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Sinclair Stock Performance

NASDAQ:SBGI opened at $14.38 on Wednesday. The firm has a market capitalization of $955.82 million, a PE ratio of -4.36 and a beta of 1.29. 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 business’s fifty day moving average price is $14.81 and its 200 day moving average price is $15.86. Sinclair, Inc. has a 12 month low of $11.13 and a 12 month high of $18.46.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.01 billion. On average, sell-side analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.95%. The ex-dividend date of this dividend was Monday, March 10th. Sinclair’s payout ratio is currently 21.46%.

Insider Buying and Selling at Sinclair

In other news, Chairman David D. Smith acquired 125,197 shares of Sinclair stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average price of $14.98 per share, for a total transaction of $1,875,451.06. Following the completion of the transaction, the chairman now directly owns 1,207,968 shares in the company, valued at approximately $18,095,360.64. This trade represents a 11.56 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased a total of 458,530 shares of company stock valued at $6,636,392 in the last ninety days. Insiders own 46.60% of the company’s stock.

Analyst Ratings Changes

SBGI has been the subject of several research analyst reports. StockNews.com lowered Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Benchmark restated a “buy” rating and set a $30.00 target price on shares of Sinclair in a report on Tuesday, January 28th. Wells Fargo & Company cut their price target on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Finally, Guggenheim lowered their price objective on shares of Sinclair from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, March 10th. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $19.30.

About Sinclair

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.