Empowered Funds LLC Grows Stake in Sinclair, Inc. (NASDAQ:SBGI)

Empowered Funds LLC raised its position in shares of Sinclair, Inc. (NASDAQ:SBGI) by 5.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 232,090 shares of the company’s stock after purchasing an additional 11,792 shares during the period. Empowered Funds LLC owned about 0.35% of Sinclair worth $3,551,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. nVerses Capital LLC bought a new stake in shares of Sinclair in the second quarter valued at about $28,000. GAMMA Investing LLC raised its holdings in shares of Sinclair by 81.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock valued at $35,000 after purchasing an additional 1,026 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Sinclair in the 3rd quarter worth approximately $39,000. EntryPoint Capital LLC boosted its stake in shares of Sinclair by 37.2% during the first quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock valued at $54,000 after purchasing an additional 1,085 shares in the last quarter. Finally, Headlands Technologies LLC increased its holdings in Sinclair by 1,039.0% during the second quarter. Headlands Technologies LLC now owns 4,647 shares of the company’s stock valued at $62,000 after buying an additional 4,239 shares during the period. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Sinclair Price Performance

Shares of SBGI stock opened at $15.93 on Tuesday. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -4.90, a PEG ratio of 0.14 and a beta of 1.53. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.78 and a current ratio of 1.91. The stock’s 50-day simple moving average is $15.86 and its 200-day simple moving average is $14.32. Sinclair, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $18.20.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $923.02 million. During the same quarter in the prior year, the business posted ($0.30) EPS. Sinclair’s revenue for the quarter was up 19.6% compared to the same quarter last year. As a group, equities analysts forecast that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 6.28%. Sinclair’s dividend payout ratio is currently -30.30%.

Wall Street Analysts Forecast Growth

SBGI has been the subject of a number of analyst reports. Rosenblatt Securities upped their target price on Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a report on Friday, September 20th. Wells Fargo & Company raised Sinclair from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $13.00 to $19.00 in a research report on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on shares of Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. Finally, Benchmark boosted their price objective on shares of Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $20.38.

About Sinclair

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.