Gamco Investors INC. ET AL Acquires 302,160 Shares of Sinclair, Inc. $SBGI

Gamco Investors INC. ET AL boosted its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI) by 7.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,242,962 shares of the company’s stock after purchasing an additional 302,160 shares during the period. Gamco Investors INC. ET AL owned 6.09% of Sinclair worth $64,069,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Sinclair by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,082 shares of the company’s stock worth $304,000 after buying an additional 780 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Sinclair by 26.2% during the second quarter. Ameritas Investment Partners Inc. now owns 3,945 shares of the company’s stock worth $55,000 after purchasing an additional 820 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Sinclair by 142.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock valued at $25,000 after buying an additional 1,065 shares during the period. JPMorgan Chase & Co. increased its position in shares of Sinclair by 5.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 31,075 shares of the company’s stock valued at $429,000 after buying an additional 1,511 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Sinclair by 175.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock valued at $41,000 after buying an additional 1,882 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Insider Buying and Selling at Sinclair

In other Sinclair news, EVP David B. Gibber sold 29,376 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $16.67, for a total transaction of $489,697.92. Following the completion of the transaction, the executive vice president owned 165,272 shares of the company’s stock, valued at $2,755,084.24. This represents a 15.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Benson E. Legg sold 6,548 shares of Sinclair stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $15.81, for a total transaction of $103,523.88. Following the completion of the sale, the director owned 71,165 shares in the company, valued at $1,125,118.65. This trade represents a 8.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 50,637 shares of company stock worth $815,535. Corporate insiders own 41.90% of the company’s stock.

Sinclair Price Performance

Shares of NASDAQ SBGI opened at $15.60 on Friday. The company has a fifty day moving average price of $14.92 and a 200 day moving average price of $14.74. The firm has a market cap of $1.09 billion, a PE ratio of -9.29 and a beta of 0.94. The company has a current ratio of 2.42, a quick ratio of 2.01 and a debt-to-equity ratio of 11.78. Sinclair, Inc. has a 1-year low of $11.89 and a 1-year high of $17.88.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.07. The company had revenue of $836.00 million for the quarter, compared to analyst estimates of $840.25 million. Sinclair had a negative return on equity of 64.27% and a negative net margin of 3.53%.The company’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.61 earnings per share. Research analysts predict that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $1.00 annualized dividend and a yield of 6.4%. Sinclair’s payout ratio is presently -59.52%.

Analysts Set New Price Targets

Several research firms have weighed in on SBGI. Wall Street Zen upgraded Sinclair from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Guggenheim increased their price target on Sinclair from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Weiss Ratings lowered Sinclair from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Wells Fargo & Company lifted their price objective on Sinclair from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Thursday, February 26th. Finally, Zacks Research upgraded Sinclair from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.00.

Sinclair Company Profile

Sinclair Broadcast Group, Inc (NASDAQ: SBGI) is a media and entertainment company headquartered in Hunt Valley, Maryland. Founded in 1971 as a single UHF television station operator, Sinclair has grown through strategic acquisitions and organic expansion to become one of the largest owners of local television stations in the United States. Over its history, the company has pursued a diversified portfolio that includes both traditional broadcast assets and newer digital platforms.

At its core, Sinclair operates over 190 television stations affiliated with the major national broadcast networks, including ABC, CBS, NBC, Fox, The CW and MyNetworkTV.