Beacon Investment Advisors LLC Sells 2,262 Shares of Sinclair, Inc. (NASDAQ:SBGI)

Beacon Investment Advisors LLC lessened its holdings in Sinclair, Inc. (NASDAQ:SBGI) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,194 shares of the company’s stock after selling 2,262 shares during the quarter. Beacon Investment Advisors LLC owned approximately 0.09% of Sinclair worth $923,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in 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 purchasing an additional 64,683 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in Sinclair by 1.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 3,704,282 shares of the company’s stock worth $59,787,000 after acquiring an additional 55,350 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Sinclair by 1.9% during the 3rd 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 in the last quarter. Empowered Funds LLC grew its stake in shares of Sinclair by 5.1% in the 4th quarter. Empowered Funds LLC now owns 243,973 shares of the company’s stock valued at $3,938,000 after buying an additional 11,883 shares during the period. Finally, Inspire Advisors LLC increased its position in Sinclair by 6.3% in the 4th quarter. Inspire Advisors LLC now owns 121,255 shares of the company’s stock valued at $1,957,000 after buying an additional 7,207 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. StockNews.com downgraded shares of Sinclair from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Wells Fargo & Company dropped their price target on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Guggenheim decreased their price objective on Sinclair from $19.00 to $17.00 and set a “buy” rating for the company in a report on Monday, March 10th. Finally, Benchmark reaffirmed a “buy” rating and set a $30.00 target price on shares of Sinclair in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $19.30.

Insider Buying and Selling

In other Sinclair news, Chairman David D. Smith bought 4,616 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was purchased at an average price of $16.44 per share, for a total transaction of $75,887.04. Following the completion of the transaction, the chairman now directly owns 972,205 shares of the company’s stock, valued at $15,983,050.20. This trade represents a 0.48 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders bought 458,530 shares of company stock valued at $6,636,392. 46.60% of the stock is owned by insiders.

Sinclair Stock Performance

SBGI stock opened at $14.14 on Monday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. The firm has a market cap of $939.87 million, a PE ratio of -4.28 and a beta of 1.29. The business has a 50 day moving average of $14.78 and a 200-day moving average of $15.83. 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 negative net margin of 6.14% and a positive return on equity of 63.89%. As a group, sell-side analysts expect that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.00 annualized dividend and a dividend yield of 7.07%. Sinclair’s payout ratio is 21.46%.

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.