Indivisible Partners Invests $595,000 in Sinclair, Inc. $SBGI

Indivisible Partners bought a new position in Sinclair, Inc. (NASDAQ:SBGI) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 38,921 shares of the company’s stock, valued at approximately $595,000.

Several other institutional investors have also bought and sold shares of SBGI. Gamco Investors INC. ET AL lifted its stake in Sinclair by 7.7% in the third quarter. Gamco Investors INC. ET AL now owns 4,242,962 shares of the company’s stock valued at $64,069,000 after purchasing an additional 302,160 shares during the last quarter. Verition Fund Management LLC lifted its stake in Sinclair by 890.3% in the third quarter. Verition Fund Management LLC now owns 306,637 shares of the company’s stock valued at $4,630,000 after purchasing an additional 275,674 shares during the last quarter. Vanguard Group Inc. lifted its stake in Sinclair by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 3,934,311 shares of the company’s stock valued at $60,195,000 after purchasing an additional 220,623 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in Sinclair by 46.4% in the third quarter. Pinnacle Associates Ltd. now owns 668,621 shares of the company’s stock valued at $10,096,000 after purchasing an additional 212,040 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in Sinclair in the second quarter valued at approximately $2,292,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Wall Street Analyst Weigh In

SBGI has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on Sinclair from $15.00 to $14.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 1st. Guggenheim dropped their price objective on Sinclair from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft set a $17.00 price objective on Sinclair in a research note on Wednesday, April 15th. Benchmark upped their price objective on Sinclair from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, Wall Street Zen upgraded Sinclair from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $19.20.

Insiders Place Their Bets

In other Sinclair news, COO Robert Weisbord sold 3,672 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $13.97, for a total transaction of $51,297.84. Following the sale, the chief operating officer owned 280,853 shares of the company’s stock, valued at $3,923,516.41. The trade was a 1.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel C. Keith sold 22,613 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $13.10, for a total transaction of $296,230.30. Following the completion of the transaction, the director directly owned 25,027 shares in the company, valued at approximately $327,853.70. The trade was a 47.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 55,672 shares of company stock worth $758,498 in the last three months. Insiders own 41.90% of the company’s stock.

Sinclair Trading Up 0.3%

Shares of SBGI stock opened at $14.83 on Thursday. The company’s fifty day simple moving average is $14.60 and its two-hundred day simple moving average is $14.85. The company has a debt-to-equity ratio of 11.78, a current ratio of 2.42 and a quick ratio of 2.42. Sinclair, Inc. has a 1 year low of $11.89 and a 1 year high of $17.88. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 16.48 and a beta of 1.09.

Sinclair (NASDAQ:SBGI) last issued its earnings results on Thursday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.96. Sinclair had a net margin of 2.00% and a negative return on equity of 13.42%. The business had revenue of $807.00 million for the quarter, compared to analysts’ expectations of $792.63 million. During the same quarter in the previous year, the firm posted ($2.30) EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, analysts anticipate that Sinclair, Inc. will post 1.1 earnings per share for the current year.

Sinclair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 26th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $1.00 dividend on an annualized basis and a yield of 6.7%. Sinclair’s payout ratio is presently 111.11%.

About Sinclair

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.