17,300 Shares in Sinclair, Inc. (NASDAQ:SBGI) Bought by Bailard Inc.

Bailard Inc. acquired a new stake in shares of Sinclair, Inc. (NASDAQ:SBGI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 17,300 shares of the company’s stock, valued at approximately $279,000.

Other hedge funds also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC acquired a new position in Sinclair in the third quarter worth about $1,605,000. Verition Fund Management LLC acquired a new stake in shares of Sinclair during the third quarter worth $822,000. Barclays PLC lifted its position in shares of Sinclair by 378.1% in the 3rd quarter. Barclays PLC now owns 54,229 shares of the company’s stock worth $831,000 after buying an additional 42,887 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Sinclair by 56.3% in the 4th quarter. Rhumbline Advisers now owns 86,072 shares of the company’s stock valued at $1,389,000 after buying an additional 31,015 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Sinclair by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 826,949 shares of the company’s stock valued at $12,655,000 after buying an additional 15,263 shares during the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBGI has been the subject of a number of research reports. StockNews.com downgraded Sinclair from a “buy” rating to a “hold” rating in a research note on Thursday. Wells Fargo & Company lowered their price objective 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. Benchmark reiterated a “buy” rating and issued a $30.00 target price on shares of Sinclair in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upped their price target on shares of Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Finally, Guggenheim increased their price objective on shares of Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Sinclair presently has a consensus rating of “Hold” and an average target price of $19.70.

Sinclair Stock Performance

Shares of NASDAQ SBGI opened at $14.33 on Thursday. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. The stock has a fifty day moving average price of $15.10 and a two-hundred day moving average price of $15.62. Sinclair, Inc. has a 1 year low of $11.13 and a 1 year high of $18.45. The firm has a market cap of $951.81 million, a P/E ratio of -4.34 and a beta of 1.55.

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

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a $0.25 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.00 dividend on an annualized basis and a yield of 6.98%. Sinclair’s dividend payout ratio is currently 21.46%.

Insider Buying and Selling at Sinclair

In other news, Chairman David D. Smith acquired 38,410 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $14.01 per share, with a total value of $538,124.10. Following the purchase, the chairman now owns 645,564 shares of the company’s stock, valued at approximately $9,044,351.64. This trade represents a 6.33 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 46.60% of the company’s stock.

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.