Sinclair, Inc. (NASDAQ:SBGI) Stock Holdings Lessened by WBI Investments LLC

WBI Investments LLC trimmed its position in shares of Sinclair, Inc. (NASDAQ:SBGI) by 44.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,694 shares of the company’s stock after selling 38,464 shares during the period. WBI Investments LLC owned 0.08% of Sinclair worth $656,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC bought a new stake in Sinclair during the first quarter worth about $49,000. NBC Securities Inc. raised its holdings in Sinclair by 35.1% in the fourth quarter. NBC Securities Inc. now owns 3,845 shares of the company’s stock worth $50,000 after purchasing an additional 1,000 shares during the period. Central Pacific Bank Trust Division acquired a new stake in Sinclair in the first quarter worth $76,000. Russell Investments Group Ltd. acquired a new stake in shares of Sinclair during the fourth quarter worth $117,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Sinclair by 92.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,706 shares of the company’s stock worth $144,000 after acquiring an additional 5,147 shares during the period. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Sinclair Trading Up 4.0 %

Sinclair stock traded up $0.56 during mid-day trading on Thursday, reaching $14.59. 253,509 shares of the company traded hands, compared to its average volume of 438,824. The company has a debt-to-equity ratio of 15.29, a current ratio of 1.42 and a quick ratio of 1.42. The firm’s 50 day moving average price is $13.05 and its 200 day moving average price is $13.50. The firm has a market capitalization of $965.57 million, a price-to-earnings ratio of -2.09, a P/E/G ratio of 0.25 and a beta of 1.56. Sinclair, Inc. has a 52-week low of $9.39 and a 52-week high of $17.58.

Sinclair (NASDAQ:SBGI) last posted its earnings results on Wednesday, May 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.97. Sinclair had a negative net margin of 14.34% and a negative return on equity of 2.65%. The business had revenue of $798.00 million for the quarter, compared to analysts’ expectations of $798.68 million. On average, analysts anticipate that Sinclair, Inc. will post 3.75 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.25 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.00 annualized dividend and a dividend yield of 6.85%. Sinclair’s dividend payout ratio is currently -14.04%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Sinclair from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. One investment 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. Based on data from MarketBeat, Sinclair currently has an average rating of “Hold” and an average target price of $18.14.

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.