Valley Forge Investment Consultants Inc. ADV purchased a new stake in shares of Sinclair, Inc. (NASDAQ:SBGI – Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,736 shares of the company’s stock, valued at approximately $120,000.
Other hedge funds have also modified their holdings of the company. Quarry LP increased its holdings in Sinclair by 101.2% in the first quarter. Quarry LP now owns 1,535 shares of the company’s stock worth $26,000 after buying an additional 772 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Sinclair during the 3rd quarter worth $31,000. New York State Teachers Retirement System acquired a new position in shares of Sinclair during the 2nd quarter worth $49,000. Tower Research Capital LLC TRC raised its holdings in shares of Sinclair by 154.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,849 shares of the company’s stock valued at $87,000 after purchasing an additional 2,942 shares in the last quarter. Finally, Point72 Middle East FZE acquired a new stake in shares of Sinclair in the 4th quarter valued at $96,000. 86.19% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have commented on SBGI. Rosenblatt Securities increased their target price on shares of Sinclair from $10.40 to $15.70 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Guggenheim lowered their price objective on Sinclair from $30.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $18.54.
Insider Transactions at Sinclair
In related news, SVP David B. Gibber sold 20,607 shares of the stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $13.33, for a total transaction of $274,691.31. Following the completion of the sale, the senior vice president now owns 1,949 shares in the company, valued at approximately $25,980.17. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 41.70% of the stock is currently owned by corporate insiders.
Sinclair Stock Up 3.7 %
Sinclair stock opened at $14.54 on Monday. The company has a debt-to-equity ratio of 7.10, a current ratio of 2.33 and a quick ratio of 2.33. Sinclair, Inc. has a fifty-two week low of $9.39 and a fifty-two week high of $21.17. The firm has a fifty day moving average price of $14.12 and a two-hundred day moving average price of $12.91. The firm has a market cap of $923.44 million, a price-to-earnings ratio of 11.10, a P/E/G ratio of 1.13 and a beta of 1.46.
Sinclair, Inc, a media company, focuses on providing content on local television stations and digital platforms. The company distributes its content through broadcast platforms and third-party platforms that consist of programming provided by third-party networks and syndicators, local news, other original programming, and college sports.
- Five stocks we like better than Sinclair
- What is a Mid Cap Stock? How to Invest
- Wendy’s vs Shake Shack: Out with the new, in with the old?
- What Investors Need to Know to Beat the Market
- Simpson Manufacturing stock doubled in value; It can double again
- What Are Dividend Champions? How to Invest in the Champions
- Uber quadruples EPS estimates, but is growth decelerating?
Receive News & Ratings for Sinclair Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sinclair and related companies with MarketBeat.com's FREE daily email newsletter.