Sinclair, Inc. (NASDAQ:SBGI) Stock Holdings Lessened by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Sinclair, Inc. (NASDAQ:SBGI) by 12.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,576 shares of the company’s stock after selling 9,850 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.11% of Sinclair worth $1,139,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Quantbot Technologies LP grew its stake in Sinclair by 103.2% in the third quarter. Quantbot Technologies LP now owns 26,365 shares of the company’s stock valued at $403,000 after purchasing an additional 13,390 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Sinclair in the 3rd quarter valued at approximately $822,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Sinclair in the third quarter worth approximately $121,000. HighTower Advisors LLC raised its position in Sinclair by 15.4% during the third quarter. HighTower Advisors LLC now owns 28,463 shares of the company’s stock valued at $433,000 after acquiring an additional 3,801 shares in the last quarter. Finally, Parallax Volatility Advisers L.P. lifted its stake in Sinclair by 38.9% in the third quarter. Parallax Volatility Advisers L.P. now owns 52,472 shares of the company’s stock valued at $803,000 after acquiring an additional 14,683 shares during the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Wells Fargo & Company dropped their price target on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Guggenheim cut their target price on Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Benchmark reiterated a “buy” rating and set a $30.00 price target on shares of Sinclair in a research note on Tuesday, January 28th. Finally, StockNews.com downgraded Sinclair from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sinclair currently has a consensus rating of “Hold” and an average target price of $19.30.

Insider Transactions at Sinclair

In other news, Chairman David D. Smith bought 4,616 shares of Sinclair stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average cost of $16.44 per share, with a total value of $75,887.04. Following the completion of the transaction, the chairman now directly owns 972,205 shares in the company, valued at $15,983,050.20. This trade represents a 0.48 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have bought 262,541 shares of company stock valued at $3,844,778. 46.60% of the stock is owned by corporate insiders.

Sinclair Trading Down 0.1 %

Shares of Sinclair stock opened at $15.91 on Wednesday. Sinclair, Inc. has a 1 year low of $11.13 and a 1 year high of $18.46. The company’s fifty day simple moving average is $14.97 and its 200-day simple moving average is $15.91. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -4.82 and a beta of 1.50. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.62. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. As a group, sell-side analysts expect that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.29%. Sinclair’s dividend payout ratio is currently 21.46%.

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.