Optimize Financial Inc Purchases Shares of 107,065 Sinclair, Inc. $SBGI

Optimize Financial Inc purchased a new stake in Sinclair, Inc. (NASDAQ:SBGI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 107,065 shares of the company’s stock, valued at approximately $1,617,000. Sinclair accounts for about 0.8% of Optimize Financial Inc’s holdings, making the stock its 9th largest position. Optimize Financial Inc owned 0.15% of Sinclair as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geneos Wealth Management Inc. increased its holdings in shares of Sinclair by 142.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock valued at $25,000 after acquiring an additional 1,065 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Sinclair by 175.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock worth $41,000 after purchasing an additional 1,882 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Sinclair in the 2nd quarter valued at $54,000. Ameritas Investment Partners Inc. increased its stake in Sinclair by 26.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,945 shares of the company’s stock valued at $55,000 after purchasing an additional 820 shares in the last quarter. Finally, Headlands Technologies LLC increased its stake in Sinclair by 79.3% during the 2nd quarter. Headlands Technologies LLC now owns 6,773 shares of the company’s stock valued at $94,000 after purchasing an additional 2,996 shares in the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SBGI. Zacks Research raised shares of Sinclair from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Sinclair in a report on Monday, December 29th. Guggenheim raised their price target on shares of Sinclair from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Finally, Wall Street Zen upgraded Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $19.00.

Insider Buying and Selling at Sinclair

In other news, Director Howard E. Friedman sold 14,713 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $15.11, for a total transaction of $222,313.43. Following the completion of the transaction, the director directly owned 77,685 shares of the company’s stock, valued at $1,173,820.35. This represents a 15.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David B. Gibber sold 29,376 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $16.67, for a total value of $489,697.92. Following the completion of the transaction, the executive vice president owned 165,272 shares in the company, valued at approximately $2,755,084.24. The trade was a 15.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 50,637 shares of company stock worth $815,535 over the last three months. 46.60% of the stock is currently owned by insiders.

Sinclair Stock Performance

SBGI stock opened at $13.69 on Wednesday. The business has a 50 day moving average of $15.24 and a 200-day moving average of $14.64. The firm has a market cap of $953.92 million, a PE ratio of -22.08 and a beta of 0.96. Sinclair, Inc. has a 12-month low of $11.89 and a 12-month high of $17.88. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 14.77.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.63. The firm had revenue of $773.00 million during the quarter, compared to the consensus estimate of $766.78 million. Sinclair had a negative return on equity of 10.19% and a negative net margin of 1.35%.The business’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 EPS. As a group, sell-side analysts expect that Sinclair, Inc. will post 4.24 earnings per share for the current year.

About Sinclair

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.