Centiva Capital LP Sells 3,189 Shares of Sinclair, Inc. (NASDAQ:SBGI)

Centiva Capital LP lowered its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI) by 13.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 20,198 shares of the company’s stock after selling 3,189 shares during the period. Centiva Capital LP’s holdings in Sinclair were worth $309,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SBGI. Empyrean Capital Partners LP bought a new position in shares of Sinclair in the second quarter worth approximately $2,873,000. Inspire Advisors LLC bought a new position in shares of Sinclair in the second quarter worth approximately $1,552,000. Alden Global Capital LLC lifted its stake in shares of Sinclair by 10.5% in the second quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company’s stock worth $16,341,000 after buying an additional 116,074 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Sinclair in the third quarter worth approximately $1,605,000. Finally, Verition Fund Management LLC bought a new position in shares of Sinclair in the third quarter worth approximately $822,000. Institutional investors own 41.71% of the company’s stock.

Sinclair Stock Up 3.7 %

Shares of SBGI stock opened at $18.30 on Wednesday. Sinclair, Inc. has a 12 month low of $11.13 and a 12 month high of $18.45. The stock has a market cap of $1.22 billion, a P/E ratio of -5.55, a P/E/G ratio of 0.16 and a beta of 1.55. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. The company has a 50 day simple moving average of $16.95 and a two-hundred day simple moving average of $14.71.

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

Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.46%. Sinclair’s dividend payout ratio (DPR) is presently -30.30%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SBGI. Rosenblatt Securities upped their target price on shares of Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Benchmark boosted their price objective on shares of Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Wells Fargo & Company raised shares of Sinclair from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $13.00 to $19.00 in a report on Thursday, November 7th. Guggenheim boosted their price objective on shares of Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, StockNews.com raised shares of Sinclair from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.10.

Sinclair 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.