US Bancorp DE Has $56,000 Stock Position in Sinclair, Inc. (NASDAQ:SBGI)

US Bancorp DE lessened its holdings in Sinclair, Inc. (NASDAQ:SBGI) by 16.1% during the third quarter, HoldingsChannel reports. The firm owned 3,631 shares of the company’s stock after selling 695 shares during the quarter. US Bancorp DE’s holdings in Sinclair were worth $56,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Sinclair by 52.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 114,864 shares of the company’s stock valued at $1,549,000 after purchasing an additional 39,624 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position 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 last quarter. Empyrean Capital Partners LP bought a new stake in shares of Sinclair in the 2nd quarter valued at $2,873,000. Alden Global Capital LLC raised its position in shares of Sinclair by 10.5% in the 2nd quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company’s stock worth $16,341,000 after acquiring an additional 116,074 shares in the last quarter. Finally, Inspire Advisors LLC bought a new position in shares of Sinclair during the 2nd quarter worth approximately $1,552,000. Institutional investors own 41.71% of the company’s stock.

Sinclair Price Performance

Shares of NASDAQ:SBGI opened at $16.18 on Monday. The company’s fifty day moving average price is $15.86 and its 200-day moving average price is $14.31. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.78. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -4.90, a PEG ratio of 0.14 and a beta of 1.53. Sinclair, Inc. has a one year low of $11.13 and a one year high of $18.20.

Sinclair (NASDAQ:SBGI) last released its earnings results on Wednesday, November 6th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $0.89 by $0.54. The company had revenue of $917.00 million for the quarter, compared to analyst estimates of $923.02 million. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. During the same quarter last year, the firm earned ($0.30) EPS. The firm’s quarterly revenue was up 19.6% compared to the same quarter last year. On average, equities research analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.18%. The ex-dividend date of this dividend is Monday, December 2nd. Sinclair’s dividend payout ratio is -30.30%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Rosenblatt Securities increased their target price on Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a report on Friday, September 20th. StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. Benchmark boosted their price target on shares of Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Wells Fargo & Company raised Sinclair from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $13.00 to $19.00 in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their price objective on Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.38.

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.