909,653 Shares in Sinclair, Inc. $SBGI Purchased by Madison Avenue Partners LP

Madison Avenue Partners LP bought a new position in shares of Sinclair, Inc. (NASDAQ:SBGI) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 909,653 shares of the company’s stock, valued at approximately $13,918,000. Sinclair makes up approximately 0.6% of Madison Avenue Partners LP’s portfolio, making the stock its 20th largest position.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Gamco Investors INC. ET AL raised its holdings in Sinclair by 7.7% during the third quarter. Gamco Investors INC. ET AL now owns 4,242,962 shares of the company’s stock worth $64,069,000 after acquiring an additional 302,160 shares in the last quarter. Vanguard Group Inc. raised its holdings in Sinclair by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 3,934,311 shares of the company’s stock worth $60,195,000 after acquiring an additional 220,623 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Sinclair by 23.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,946,274 shares of the company’s stock worth $29,778,000 after acquiring an additional 373,566 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Sinclair by 5.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,509,006 shares of the company’s stock worth $23,089,000 after buying an additional 73,241 shares during the last quarter. Finally, Gabelli Funds LLC increased its position in Sinclair by 9.4% during the third quarter. Gabelli Funds LLC now owns 1,191,313 shares of the company’s stock worth $17,989,000 after buying an additional 102,759 shares during the last quarter. Institutional investors own 41.71% of the company’s stock.

Sinclair Stock Down 0.7%

NASDAQ SBGI opened at $13.66 on Thursday. The business has a fifty day moving average price of $14.53 and a two-hundred day moving average price of $14.67. 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 fifty-two week low of $11.89 and a fifty-two week high of $17.88. The stock has a market capitalization of $985.84 million, a PE ratio of 15.18 and a beta of 1.05.

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

Sinclair Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 26th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 26th. This represents a $1.00 annualized dividend and a yield of 7.3%. Sinclair’s dividend payout ratio is presently 111.11%.

Insiders Place Their Bets

In other Sinclair news, Director Daniel C. Keith sold 22,613 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $13.10, for a total transaction of $296,230.30. Following the completion of the sale, the director directly owned 25,027 shares in the company, valued at $327,853.70. This represents a 47.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 42,000 shares of company stock worth $550,200 in the last three months. 42.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Weiss Ratings downgraded Sinclair from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Wall Street Zen raised Sinclair from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Deutsche Bank Aktiengesellschaft set a $17.00 price target on Sinclair in a research report on Wednesday, April 15th. Guggenheim reduced their price target on Sinclair from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Finally, Wells Fargo & Company reduced their price target on Sinclair from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $19.20.

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.