Dynamic Technology Lab Private Ltd Buys Shares of 27,944 Sinclair, Inc. (NASDAQ:SBGI)

Dynamic Technology Lab Private Ltd bought a new position in shares of Sinclair, Inc. (NASDAQ:SBGI) during the fourth quarter, HoldingsChannel.com reports. The firm bought 27,944 shares of the company’s stock, valued at approximately $451,000.

A number of other large investors also recently bought and sold shares of SBGI. Verition Fund Management LLC acquired a new position in Sinclair in the third quarter worth $822,000. HighTower Advisors LLC lifted its holdings in shares of Sinclair by 15.4% in the third quarter. HighTower Advisors LLC now owns 28,463 shares of the company’s stock valued at $433,000 after purchasing an additional 3,801 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Sinclair in the 3rd quarter worth approximately $2,110,000. Barclays PLC lifted its stake in Sinclair by 378.1% in the third quarter. Barclays PLC now owns 54,229 shares of the company’s stock valued at $831,000 after acquiring an additional 42,887 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Sinclair by 1.9% during the third quarter. Geode Capital Management LLC now owns 826,949 shares of the company’s stock worth $12,655,000 after purchasing an additional 15,263 shares during the period. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Insider Activity

In related news, Chairman David D. Smith acquired 30,296 shares of the stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $14.09 per share, for a total transaction of $426,870.64. Following the completion of the transaction, the chairman now directly owns 728,986 shares of the company’s stock, valued at $10,271,412.74. The trade was a 4.34 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have purchased 395,457 shares of company stock worth $5,822,120. Corporate insiders own 46.60% of the company’s stock.

Sinclair Stock Up 0.6 %

Shares of Sinclair stock opened at $13.37 on Wednesday. The business has a fifty day simple moving average of $14.90 and a 200 day simple moving average of $15.90. The stock has a market cap of $888.69 million, a PE ratio of -4.05 and a beta of 1.29. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. Sinclair, Inc. has a 12 month low of $11.13 and a 12 month high of $18.46.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.62. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. Research analysts predict that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders 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 dividend on an annualized basis and a dividend yield of 7.48%. Sinclair’s dividend payout ratio (DPR) is currently 21.46%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wells Fargo & Company cut their target price 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 cut Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Guggenheim decreased their price target on shares of Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Finally, Benchmark reiterated a “buy” rating and issued a $30.00 price target on shares of Sinclair in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $19.30.

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.