Sinclair, Inc. (NASDAQ:SBGI) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lowered its position in Sinclair, Inc. (NASDAQ:SBGI) by 35.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,789 shares of the company’s stock after selling 19,192 shares during the period. Kingsview Wealth Management LLC owned about 0.05% of Sinclair worth $532,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Alden Global Capital LLC raised its position in shares of Sinclair by 10.5% during the 2nd quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company’s stock worth $16,341,000 after purchasing an additional 116,074 shares during the last quarter. Gabelli Funds LLC raised its position in shares of Sinclair by 1.7% during the 2nd quarter. Gabelli Funds LLC now owns 1,208,700 shares of the company’s stock worth $16,112,000 after purchasing an additional 20,700 shares during the last quarter. Pinnacle Associates Ltd. raised its position in shares of Sinclair by 2.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 642,738 shares of the company’s stock worth $9,834,000 after purchasing an additional 14,384 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Sinclair by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 447,519 shares of the company’s stock worth $5,965,000 after purchasing an additional 21,360 shares during the last quarter. Finally, Empowered Funds LLC raised its position in shares of Sinclair by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 232,090 shares of the company’s stock worth $3,551,000 after purchasing an additional 11,792 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Sinclair Stock Performance

Sinclair stock opened at $18.05 on Thursday. The firm has a 50 day simple moving average of $16.45 and a 200-day simple moving average of $14.49. Sinclair, Inc. has a 1-year low of $11.13 and a 1-year high of $18.45. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -5.47, a price-to-earnings-growth ratio of 0.16 and a beta of 1.53.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.54. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The business had revenue of $917.00 million during the quarter, compared to analysts’ expectations of $923.02 million. During the same quarter in the prior year, the company posted ($0.30) EPS. The business’s revenue for the quarter was up 19.6% on a year-over-year basis. On average, analysts expect that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.54%. Sinclair’s payout ratio is currently -30.30%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SBGI. Wells Fargo & Company upgraded shares of Sinclair from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $13.00 to $19.00 in a research report on Thursday, November 7th. Guggenheim upped their price target on shares of Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. increased their price objective on shares of Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Benchmark increased their price objective on shares of Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.10.

Sinclair 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.