Inspire Advisors LLC Increases Holdings in Sinclair, Inc. (NASDAQ:SBGI)

Inspire Advisors LLC lifted its position in Sinclair, Inc. (NASDAQ:SBGI) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 121,255 shares of the company’s stock after purchasing an additional 7,207 shares during the period. Inspire Advisors LLC owned 0.18% of Sinclair worth $1,957,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Kendall Capital Management purchased a new stake in shares of Sinclair in the fourth quarter valued at approximately $280,000. Aigen Investment Management LP bought a new position in Sinclair in the fourth quarter worth approximately $262,000. Bailard Inc. bought a new position in Sinclair in the fourth quarter worth approximately $279,000. New York State Common Retirement Fund raised its stake in Sinclair by 29.4% in the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock worth $121,000 after buying an additional 1,700 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Sinclair by 56.3% in the fourth quarter. Rhumbline Advisers now owns 86,072 shares of the company’s stock worth $1,389,000 after buying an additional 31,015 shares in the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Insider Activity

In other Sinclair news, Chairman David D. Smith purchased 30,296 shares of the stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $14.09 per share, with a total value of $426,870.64. Following the completion of the acquisition, the chairman now owns 728,986 shares in the company, valued at $10,271,412.74. This trade represents a 4.34 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 46.60% of the company’s stock.

Sinclair Price Performance

Shares of SBGI opened at $13.80 on Tuesday. The firm has a market capitalization of $916.61 million, a PE ratio of -4.18 and a beta of 1.50. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. Sinclair, Inc. has a 1-year low of $11.13 and a 1-year high of $18.45. The company’s fifty day moving average price is $15.01 and its 200-day moving average price is $15.67.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.62. The firm had revenue of $1 billion for 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%. On average, equities research analysts predict that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.25%. The ex-dividend date of this dividend is Monday, March 10th. Sinclair’s dividend payout ratio (DPR) is presently 21.46%.

Analyst Ratings Changes

A number of equities analysts recently commented on SBGI shares. Guggenheim reduced 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. Wells Fargo & Company reduced their price objective on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. StockNews.com downgraded Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. upped their price target on Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Finally, Benchmark reaffirmed a “buy” rating and set a $30.00 price target on shares of Sinclair in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Sinclair presently has a consensus rating of “Hold” and a consensus 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.