Dark Forest Capital Management LP grew its stake in Sinclair, Inc. (NASDAQ:SBGI – Free Report) by 300.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,489 shares of the company’s stock after purchasing an additional 4,117 shares during the period. Dark Forest Capital Management LP’s holdings in Sinclair were worth $94,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Sinclair by 26.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,307,012 shares of the company’s stock worth $22,426,000 after acquiring an additional 271,294 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Sinclair by 2.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 625,019 shares of the company’s stock worth $10,725,000 after acquiring an additional 17,541 shares during the period. American Century Companies Inc. bought a new position in shares of Sinclair during the 1st quarter worth about $168,000. Envestnet Asset Management Inc. lifted its holdings in shares of Sinclair by 77.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 44,451 shares of the company’s stock worth $763,000 after acquiring an additional 19,345 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Sinclair by 1.8% during the 1st quarter. Rhumbline Advisers now owns 59,896 shares of the company’s stock worth $1,028,000 after acquiring an additional 1,031 shares during the period. 86.19% of the stock is currently owned by institutional investors and hedge funds.
Sinclair Trading Down 0.3 %
Shares of NASDAQ SBGI opened at $10.22 on Friday. Sinclair, Inc. has a 1-year low of $9.81 and a 1-year high of $22.87. The company has a market cap of $647.84 million, a PE ratio of 4.31, a P/E/G ratio of 1.11 and a beta of 1.41. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 6.53. The company has a 50-day moving average of $13.34 and a two-hundred day moving average of $15.22.
Sinclair Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.79%. The ex-dividend date is Thursday, August 31st. Sinclair’s dividend payout ratio is 42.19%.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on SBGI. StockNews.com began coverage on shares of Sinclair in a report on Thursday, August 17th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft cut their price target on shares of Sinclair from $18.00 to $17.00 and set a “hold” rating for the company in a report on Tuesday, August 15th. TheStreet downgraded shares of Sinclair from a “b-” rating to a “c” rating in a report on Monday, June 5th. Benchmark reissued a “buy” rating and set a $25.00 price target on shares of Sinclair in a report on Wednesday, August 23rd. Finally, Rosenblatt Securities cut their price target on shares of Sinclair from $18.60 to $13.50 and set a “neutral” rating for the company in a report on Tuesday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sinclair currently has a consensus rating of “Hold” and a consensus target price of $22.75.
Check Out Our Latest Stock Report on SBGI
About Sinclair
Sinclair, Inc, a media company, focuses on providing content on local television stations and digital platforms. The company distributes its content through broadcast platforms and third-party platforms that consist of programming provided by third-party networks and syndicators, local news, other original programming, and college sports.
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