Gamco Investors INC. ET AL Decreases Position in Sinclair, Inc. $SBGI

Gamco Investors INC. ET AL trimmed its holdings in Sinclair, Inc. (NASDAQ:SBGI) by 4.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,987,344 shares of the company’s stock after selling 206,167 shares during the quarter. Gamco Investors INC. ET AL owned about 0.06% of Sinclair worth $51,596,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Sinclair by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,082 shares of the company’s stock worth $304,000 after purchasing an additional 780 shares in the last quarter. Royal Bank of Canada grew its position in shares of Sinclair by 5.4% in the 4th quarter. Royal Bank of Canada now owns 17,001 shares of the company’s stock valued at $261,000 after buying an additional 869 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Sinclair by 142.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock valued at $25,000 after buying an additional 1,065 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Sinclair by 2.2% in the 4th quarter. Russell Investments Group Ltd. now owns 57,724 shares of the company’s stock valued at $883,000 after buying an additional 1,259 shares during the last quarter. Finally, Swiss National Bank raised its stake in Sinclair by 2.0% during the 4th quarter. Swiss National Bank now owns 72,450 shares of the company’s stock worth $1,108,000 after acquiring an additional 1,400 shares in the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Daniel C. Keith sold 17,000 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $15.02, for a total value of $255,340.00. Following the transaction, the director owned 25,122 shares in the company, valued at $377,332.44. The trade was a 40.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 42.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SBGI. Wells Fargo & Company decreased their price objective on shares of Sinclair from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st. Wall Street Zen upgraded Sinclair from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. JPMorgan Chase & Co. reduced their target price on Sinclair from $15.00 to $14.00 and set an “underweight” rating for the company in a report on Wednesday, April 1st. Guggenheim decreased their target price on Sinclair from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Finally, Deutsche Bank Aktiengesellschaft set a $17.00 price target on Sinclair in a research note on Wednesday, April 15th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.20.

Sinclair Stock Up 0.9%

Shares of NASDAQ:SBGI opened at $13.49 on Friday. The stock has a market cap of $973.57 million, a P/E ratio of 14.99 and a beta of 1.04. The firm has a fifty day moving average price of $14.03 and a 200 day moving average price of $14.42. The company has a debt-to-equity ratio of 11.10, a current ratio of 2.42 and a quick ratio of 2.42. Sinclair, Inc. has a 1-year low of $11.89 and a 1-year high of $17.88.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.96. The company had revenue of $807.00 million for the quarter, compared to the consensus estimate of $792.63 million. Sinclair had a net margin of 2.00% and a negative return on equity of 12.62%. Sinclair’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the firm posted ($2.30) EPS. Sell-side analysts predict that Sinclair, Inc. will post 1.68 EPS for the current year.

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.4%. Sinclair’s dividend payout ratio (DPR) is currently 111.11%.

Sinclair Profile

Sinclair Broadcast Group, Inc (NASDAQ: SBGI) is a media and entertainment company headquartered in Hunt Valley, Maryland. Founded in 1971 as a single UHF television station operator, Sinclair has grown through strategic acquisitions and organic expansion to become one of the largest owners of local television stations in the United States. Over its history, the company has pursued a diversified portfolio that includes both traditional broadcast assets and newer digital platforms.

At its core, Sinclair operates over 190 television stations affiliated with the major national broadcast networks, including ABC, CBS, NBC, Fox, The CW and MyNetworkTV.