1 week Ago By Defense World Staff
Norges Bank acquired a new position in Sinclair, Inc. (NASDAQ:SBGI – Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 31,396 shares of the company’s stock, valued at approximately $507,000.
Several other large investors also recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in Sinclair by 188.
0% during the fourth quarter. JPMorgan Chase & Co. now owns 80,206 shares of the company’s stock valued at $1,295,000 after purchasing an additional 52,355 shares during the period.
EntryPoint Capital LLC purchased a new position in shares of Sinclair during the 4th quarter valued at $194,000. Vanguard Group Inc. grew its stake in shares of Sinclair by 1.
8% during the 4th quarter. Vanguard Group Inc. now owns 3,714,036 shares of the company’s stock worth $59,945,000 after acquiring an additional 64,683 shares during the period.
LPL Financial LLC increased its holdings in Sinclair by 10.8% in the 4th quarter. LPL Financial LLC now owns 95,260 shares of the company’s stock worth $1,538,000 after acquiring an additional 9,295 shares during the last quarter.
Finally, KLP Kapitalforvaltning AS bought a new stake in Sinclair in the 4th quarter valued at about $123,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.
Insider ActivityIn related news, Chairman David D. Smith purchased 30,296 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $14.
09 per share, with a total value of $426,870.64. Following the acquisition, the chairman now directly owns 728,986 shares of the company’s stock, valued at approximately $10,271,412.
74. This represents a 4.34 % increase in their ownership of the stock.
The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders acquired 458,530 shares of company stock worth $6,636,392. 46.
60% of the stock is currently owned by insiders. Wall Street Analysts Forecast GrowthSeveral research firms have recently weighed in on SBGI. StockNews.
com downgraded shares of Sinclair from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Benchmark reiterated a “buy” rating and issued a $30.00 price objective on shares of Sinclair in a research note on Tuesday, January 28th.
Guggenheim lowered their target price on shares of Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, March 10th.
Finally, Wells Fargo & Company cut their price target on Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th.
One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.
30.Check Out Our Latest Stock Analysis on SinclairSinclair Price PerformanceShares of NASDAQ:SBGI opened at $13.68 on Friday.
The company has a 50 day moving average of $14.82 and a 200 day moving average of $15.86.
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 stock has a market cap of $909.30 million, a P/E ratio of -4.
15 and a beta of 1.29. Sinclair, Inc.
has a 12 month low of $11.13 and a 12 month high of $18.46.
Sinclair (NASDAQ:SBGI – Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $1.
99 by $0.62. Sinclair had a negative net margin of 6.
14% and a positive return on equity of 63.89%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $1.
01 billion. As a group, sell-side analysts forecast that Sinclair, Inc. will post 4.
24 EPS for the current fiscal year. Sinclair Announces DividendThe firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a $0.
25 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.
00 annualized dividend and a dividend yield of 7.31%. Sinclair’s payout ratio is currently 21.
46%. Sinclair Profile (Free Report)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.Further ReadingFive stocks we like better than SinclairWhat Are Dividend Achievers? An IntroductionRobinhood Strategies Could Be a Game-Changer for Young InvestorsHow to Profit From Value Investing Are These 3 Retail Stocks Oversold or Really in Trouble?3 Healthcare Dividend Stocks to BuyIONQ & RGTI Join DARPA Quantum Initiative: High Stakes Are Ahead.
