Raymond James Financial Services Advisors Inc. Acquires 1,424 Shares of Sinclair, Inc. (NASDAQ:SBGI)

Raymond James Financial Services Advisors Inc. increased its holdings in Sinclair, Inc. (NASDAQ:SBGI) by 6.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,804 shares of the company’s stock after buying an additional 1,424 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Sinclair were worth $297,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SBGI. Grant GrossMendelsohn LLC boosted its holdings in 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 buying an additional 2,571 shares during the period. Verdence Capital Advisors LLC purchased a new stake in Sinclair in the 3rd quarter worth approximately $145,000. Allspring Global Investments Holdings LLC lifted its stake in Sinclair by 911.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,477 shares of the company’s stock worth $230,000 after purchasing an additional 18,452 shares in the last quarter. Capital Management Corp VA lifted its stake in Sinclair by 16.5% in the 3rd quarter. Capital Management Corp VA now owns 1,652,805 shares of the company’s stock worth $18,544,000 after purchasing an additional 233,977 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Sinclair by 29,122.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 10,520 shares of the company’s stock worth $118,000 after purchasing an additional 10,484 shares in the last quarter. 41.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

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

Sinclair Stock Performance

Sinclair stock opened at $12.34 on Tuesday. The firm’s fifty day moving average price is $13.30 and its 200-day moving average price is $13.28. The company has a debt-to-equity ratio of 18.73, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market cap of $784.82 million, a P/E ratio of -2.55, a price-to-earnings-growth ratio of 0.30 and a beta of 1.41. Sinclair, Inc. has a fifty-two week low of $9.39 and a fifty-two week high of $20.57.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings data 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 firm had revenue of $826.00 million for the quarter, compared to analysts’ expectations of $838.75 million. Sinclair had a negative net margin of 9.29% and a positive return on equity of 26.46%. The business’s quarterly revenue was down 14.0% on a year-over-year basis. During the same quarter last year, the company posted $0.90 EPS. On average, equities research analysts expect that Sinclair, Inc. will post 2.42 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.10%. The ex-dividend date of this dividend was Friday, March 8th. Sinclair’s dividend payout ratio (DPR) is currently -20.70%.

Sinclair 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.