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

Gabelli Funds LLC increased its position in shares of Sinclair, Inc. (NASDAQ:SBGI) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,188,000 shares of the company’s stock after acquiring an additional 11,200 shares during the quarter. Gabelli Funds LLC owned approximately 1.87% of Sinclair worth $16,002,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Gamco Investors INC. ET AL raised its holdings in Sinclair by 2.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 3,591,266 shares of the company’s stock valued at $48,374,000 after buying an additional 85,070 shares during the period. Capital Management Corp VA raised its holdings in Sinclair by 36.7% in the 1st quarter. Capital Management Corp VA now owns 2,006,720 shares of the company’s stock valued at $27,031,000 after buying an additional 538,740 shares during the period. Dimensional Fund Advisors LP raised its holdings in Sinclair by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,889,863 shares of the company’s stock valued at $24,626,000 after buying an additional 78,793 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Sinclair by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 648,481 shares of the company’s stock valued at $8,450,000 after buying an additional 13,874 shares during the period. Finally, Alden Global Capital LLC raised its holdings in Sinclair by 86.1% in the 4th quarter. Alden Global Capital LLC now owns 645,400 shares of the company’s stock valued at $8,410,000 after buying an additional 298,508 shares during the period. Institutional investors and hedge funds own 41.71% of the company’s stock.

Sinclair Trading Up 1.8 %

NASDAQ:SBGI traded up $0.27 on Friday, reaching $15.38. 204,507 shares of the company’s stock were exchanged, compared to its average volume of 394,496. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 15.29. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -2.16, a price-to-earnings-growth ratio of 0.29 and a beta of 1.56. The business has a fifty day moving average of $13.20 and a 200-day moving average of $13.64. Sinclair, Inc. has a 52-week low of $9.39 and a 52-week high of $17.58.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.97. The company had revenue of $798.00 million for the quarter, compared to analyst estimates of $798.68 million. Sinclair had a negative net margin of 14.34% and a negative return on equity of 2.65%. As a group, analysts expect that Sinclair, Inc. will post 3.75 earnings per share for the current year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors 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 dividend on an annualized basis and a dividend yield of 6.50%. Sinclair’s payout ratio is -14.04%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.