Versor Investments LP Makes New $568,000 Investment in Sinclair, Inc. $SBGI

Versor Investments LP acquired a new stake in Sinclair, Inc. (NASDAQ:SBGI) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 37,600 shares of the company’s stock, valued at approximately $568,000. Versor Investments LP owned approximately 0.05% of Sinclair at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SBGI. Geneos Wealth Management Inc. raised its holdings in shares of Sinclair by 142.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock worth $25,000 after acquiring an additional 1,065 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Sinclair by 175.6% during 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. bought a new stake in Sinclair during the 2nd quarter worth approximately $54,000. Ameritas Investment Partners Inc. raised its stake in shares of Sinclair by 26.2% in the second quarter. Ameritas Investment Partners Inc. now owns 3,945 shares of the company’s stock worth $55,000 after purchasing an additional 820 shares during the last quarter. Finally, Headlands Technologies LLC lifted its holdings in shares of Sinclair by 79.3% in the second 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.

Sinclair Trading Down 1.0%

NASDAQ SBGI opened at $15.08 on Thursday. The business’s fifty day moving average is $15.11 and its 200-day moving average is $14.62. The company has a debt-to-equity ratio of 14.77, a current ratio of 2.01 and a quick ratio of 2.01. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -24.32 and a beta of 0.96. Sinclair, Inc. has a one year low of $11.89 and a one year high of $17.88.

Analyst Upgrades and Downgrades

SBGI has been the subject of several recent research reports. Zacks Research upgraded Sinclair from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Sinclair in a research note on Monday, December 29th. Guggenheim lifted their price objective on shares of Sinclair from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Finally, Wall Street Zen upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Two 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $19.00.

Insider Activity

In other news, EVP David B. Gibber sold 29,376 shares of the firm’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 transaction of $489,697.92. Following the completion of the sale, the executive vice president owned 165,272 shares in the company, valued at $2,755,084.24. This trade represents a 15.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Benson E. Legg sold 6,548 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $15.81, for a total value of $103,523.88. Following the transaction, the director directly owned 71,165 shares of the company’s stock, valued at approximately $1,125,118.65. This trade represents a 8.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 50,637 shares of company stock valued at $815,535 in the last three months. Company insiders own 41.90% of the company’s stock.

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.