Choreo LLC Takes $2.98 Million Position in Sinclair, Inc. (NASDAQ:SBGI)

Choreo LLC bought a new stake in Sinclair, Inc. (NASDAQ:SBGI) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 228,893 shares of the company’s stock, valued at approximately $2,982,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL grew its stake in Sinclair by 2.7% in the third quarter. Gamco Investors INC. ET AL now owns 3,524,743 shares of the company’s stock valued at $39,548,000 after purchasing an additional 91,870 shares during the last quarter. Capital Management Corp VA grew its stake in Sinclair by 16.5% in the third quarter. Capital Management Corp VA now owns 1,652,805 shares of the company’s stock valued at $18,544,000 after purchasing an additional 233,977 shares during the last quarter. American Financial Group Inc. boosted its holdings in Sinclair by 12.7% in the third quarter. American Financial Group Inc. now owns 658,420 shares of the company’s stock worth $7,387,000 after acquiring an additional 74,101 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Sinclair by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 634,607 shares of the company’s stock worth $7,120,000 after acquiring an additional 34,595 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Sinclair by 102.0% in the third quarter. AQR Capital Management LLC now owns 478,946 shares of the company’s stock worth $5,374,000 after acquiring an additional 241,895 shares in the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Sinclair Trading Up 3.3 %

Sinclair stock opened at $12.53 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 18.73. Sinclair, Inc. has a 52 week low of $9.39 and a 52 week high of $20.57. The stock has a 50-day moving average price of $12.98 and a 200 day moving average price of $13.36.

Sinclair (NASDAQ:SBGI) last released its earnings results on Wednesday, February 28th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.35. Sinclair had a positive return on equity of 26.46% and a negative net margin of 9.29%. The firm had revenue of $826.00 million during the quarter, compared to the consensus estimate of $838.75 million. During the same quarter in the previous year, the company posted $0.90 earnings per share. The company’s revenue was down 14.0% compared to the same quarter last year. Research analysts predict that Sinclair, Inc. will post 2.42 earnings per share for the current year.

Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.98%. The ex-dividend date of this dividend was Friday, March 8th. Sinclair’s dividend payout ratio (DPR) is -20.70%.

Insider Buying and Selling

In related news, CAO David R. Bochenek sold 20,803 shares of Sinclair stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $13.44, for a total transaction of $279,592.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Daniel C. Keith sold 30,086 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $13.58, for a total value of $408,567.88. Following the completion of the sale, the director now directly owns 30,000 shares in the company, valued at $407,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO David R. Bochenek sold 20,803 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $13.44, for a total value of $279,592.32. The disclosure for this sale can be found here. Corporate insiders own 41.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SBGI shares. StockNews.com downgraded Sinclair from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Rosenblatt Securities raised their price target on Sinclair from $10.40 to $15.70 and gave the stock a “neutral” rating in a report on Thursday, January 18th. Finally, Wells Fargo & Company raised their price target on Sinclair from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.14.

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.