Madison Avenue Partners LP acquired a new position in shares of Sinclair, Inc. (NASDAQ:SBGI – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 909,653 shares of the company’s stock, valued at approximately $13,918,000. Sinclair accounts for about 0.6% of Madison Avenue Partners LP’s investment portfolio, making the stock its 20th largest holding. Madison Avenue Partners LP owned approximately 1.31% of Sinclair as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. grew its stake in shares of Sinclair by 142.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock worth $25,000 after purchasing an additional 1,065 shares during the period. Hilton Head Capital Partners LLC acquired a new stake in shares of Sinclair during the fourth quarter worth $32,000. Tower Research Capital LLC TRC grew its stake in shares of Sinclair by 175.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock worth $41,000 after purchasing an additional 1,882 shares during the period. Aquatic Capital Management LLC acquired a new stake in shares of Sinclair during the third quarter worth $48,000. Finally, Raymond James Financial Inc. bought a new position in Sinclair during the second quarter worth about $54,000. 41.71% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Sinclair
In other news, Director Daniel C. Keith sold 22,613 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $13.10, for a total value of $296,230.30. Following the sale, the director directly owned 25,027 shares in the company, valued at $327,853.70. The trade was a 47.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 42,000 shares of company stock valued at $550,200 in the last 90 days. Insiders own 42.10% of the company’s stock.
Analysts Set New Price Targets
Read Our Latest Stock Report on SBGI
Sinclair Stock Performance
Shares of Sinclair stock opened at $13.66 on Thursday. The firm has a market cap of $985.84 million, a price-to-earnings ratio of 15.18 and a beta of 1.05. The stock’s 50-day moving average is $14.53 and its 200-day moving average is $14.67. Sinclair, Inc. has a one year low of $11.89 and a one year high of $17.88. The company has a debt-to-equity ratio of 11.10, a current ratio of 2.42 and a quick ratio of 2.42.
Sinclair (NASDAQ:SBGI – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.96. The company had revenue of $807.00 million for the quarter, compared to analyst estimates of $792.63 million. Sinclair had a negative return on equity of 12.62% and a net margin of 2.00%.The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.30) earnings per share. Equities analysts predict that Sinclair, Inc. will post 1.68 earnings per share for the current fiscal year.
Sinclair Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 26th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date was Tuesday, May 26th. Sinclair’s payout ratio is 111.11%.
Sinclair Company Profile
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.
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