Exchange Traded Concepts LLC lessened its stake in shares of Sinclair, Inc. (NASDAQ:SBGI – Free Report) by 5.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,157 shares of the company’s stock after selling 1,663 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Sinclair were worth $375,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in SBGI. MetLife Investment Management LLC grew its holdings in Sinclair by 54.9% during the 1st quarter. MetLife Investment Management LLC now owns 24,420 shares of the company’s stock valued at $684,000 after buying an additional 8,654 shares in the last quarter. BlackRock Inc. grew its holdings in Sinclair by 1.0% during the 1st quarter. BlackRock Inc. now owns 3,945,312 shares of the company’s stock valued at $110,548,000 after buying an additional 38,631 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in Sinclair by 18.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 5,068 shares of the company’s stock valued at $150,000 after buying an additional 787 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Sinclair by 273.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 314,516 shares of the company’s stock valued at $8,812,000 after buying an additional 230,233 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in Sinclair during the 1st quarter valued at about $216,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.
Sinclair Price Performance
Shares of NASDAQ:SBGI opened at $9.86 on Friday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 6.53. The stock has a market cap of $625.32 million, a PE ratio of 4.16, a PEG ratio of 1.07 and a beta of 1.42. The company’s fifty day moving average is $12.23 and its 200 day moving average is $14.56. Sinclair, Inc. has a 52 week low of $9.56 and a 52 week high of $22.41.
Sinclair Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 10.14%. The ex-dividend date was Thursday, August 31st. Sinclair’s dividend payout ratio is presently 42.19%.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on SBGI. Rosenblatt Securities dropped their price target on Sinclair from $18.60 to $13.50 and set a “neutral” rating for the company in a research report on Tuesday, September 5th. Benchmark reiterated a “buy” rating and set a $25.00 price target on shares of Sinclair in a research report on Wednesday, August 23rd. StockNews.com began coverage on Sinclair in a research report on Thursday. They set a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Sinclair from $18.00 to $17.00 and set a “hold” rating for the company in a research report on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $17.30.
Check Out Our Latest Analysis on Sinclair
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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