Dynamic Technology Lab Private Ltd Makes New $709,000 Investment in Sinclair, Inc. (NASDAQ:SBGI)

Dynamic Technology Lab Private Ltd bought a new position in shares of Sinclair, Inc. (NASDAQ:SBGI) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 54,377 shares of the company’s stock, valued at approximately $709,000. Dynamic Technology Lab Private Ltd owned approximately 0.09% of Sinclair as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. NBC Securities Inc. acquired a new position in shares of Sinclair during the 3rd quarter worth $31,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Sinclair during the 3rd quarter worth $113,000. Russell Investments Group Ltd. acquired a new position in shares of Sinclair during the 4th quarter worth $117,000. Nisa Investment Advisors LLC raised 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 valued at $118,000 after purchasing an additional 10,484 shares during the last quarter. Finally, Valley Forge Investment Consultants Inc. ADV acquired a new position in Sinclair in the 3rd quarter valued at about $120,000. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Sinclair

In other Sinclair news, CAO David R. Bochenek sold 20,803 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $13.44, for a total value of $279,592.32. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Daniel C. Keith sold 30,086 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $13.58, for a total value of $408,567.88. Following the completion of the transaction, the director now owns 30,000 shares of the company’s stock, valued at $407,400. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO David R. Bochenek sold 20,803 shares of the company’s 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 disclosure for this sale can be found here. Corporate insiders own 46.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in 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 note on Friday, March 1st. StockNews.com upgraded Sinclair from a “sell” rating to a “hold” rating in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $18.14.

Sinclair Trading Down 6.6 %

Shares of NASDAQ:SBGI opened at $12.55 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 15.29. Sinclair, Inc. has a 1 year low of $9.39 and a 1 year high of $17.58. The stock has a 50-day simple moving average of $12.94 and a 200-day simple moving average of $13.70.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.35. The firm had revenue of $826.00 million during the quarter, compared to analysts’ expectations of $838.75 million. Sinclair had a negative return on equity of 2.65% and a negative net margin of 14.34%. Sinclair’s quarterly revenue was down 14.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS. As a group, sell-side analysts forecast that Sinclair, Inc. will post 3.08 EPS for the current year.

Sinclair Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 7.97%. The ex-dividend date is Monday, June 3rd. Sinclair’s dividend payout ratio is currently -14.04%.

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.