Choreo LLC Buys Shares of 228,893 Sinclair, Inc. (NASDAQ:SBGI)

Choreo LLC purchased a new stake in shares of Sinclair, Inc. (NASDAQ:SBGI) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 228,893 shares of the company’s stock, valued at approximately $2,982,000. Choreo LLC owned about 0.36% 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 the stock. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Sinclair by 6.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 22,804 shares of the company’s stock valued at $297,000 after purchasing an additional 1,424 shares during the last quarter. Grant GrossMendelsohn LLC lifted its position in shares of Sinclair by 6.3% in the 3rd quarter. Grant GrossMendelsohn LLC now owns 43,298 shares of the company’s stock worth $486,000 after purchasing an additional 2,571 shares during the period. NBC Securities Inc. acquired a new position in shares of Sinclair in the 3rd quarter worth approximately $31,000. New York State Common Retirement Fund lifted its position in shares of Sinclair by 89.1% in the 3rd quarter. New York State Common Retirement Fund now owns 15,693 shares of the company’s stock worth $176,000 after purchasing an additional 7,393 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in shares of Sinclair in the 4th quarter worth approximately $117,000. 41.71% of the stock is owned by institutional investors.

Insider Buying and Selling at Sinclair

In other Sinclair news, Director Daniel C. Keith sold 30,086 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $13.58, for a total transaction of $408,567.88. Following the sale, the director now directly owns 30,000 shares of the company’s stock, valued at $407,400. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Daniel C. Keith sold 30,086 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $13.58, for a total value of $408,567.88. Following the sale, the director now directly owns 30,000 shares of the company’s stock, valued at $407,400. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO David R. Bochenek sold 20,803 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $13.44, for a total transaction of $279,592.32. The disclosure for this sale can be found here. Insiders own 41.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Sinclair from $12.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, March 1st. StockNews.com downgraded shares of Sinclair from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Finally, Rosenblatt Securities boosted their target price on shares of Sinclair from $10.40 to $15.70 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $18.14.

Sinclair Trading Up 3.3 %

NASDAQ SBGI opened at $12.53 on Tuesday. Sinclair, Inc. has a 1 year low of $9.39 and a 1 year high of $20.57. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 18.73. The company has a fifty day moving average price of $12.98 and a 200-day moving average price of $13.36.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.35. The company had revenue of $826.00 million during the quarter, compared to analyst estimates of $838.75 million. Sinclair had a negative net margin of 9.29% and a positive return on equity of 26.46%. The firm’s revenue for the quarter was down 14.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. As a group, sell-side analysts anticipate that Sinclair, Inc. will post 2.42 earnings per share for the current year.

Sinclair Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 7.98%. The ex-dividend date of this dividend was Friday, March 8th. Sinclair’s dividend payout ratio (DPR) is presently -20.70%.

Sinclair Company Profile

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.