Gamco Investors INC. ET AL Has $59.79 Million Stock Holdings in Sinclair, Inc. (NASDAQ:SBGI)

Gamco Investors INC. ET AL increased its position in Sinclair, Inc. (NASDAQ:SBGI) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,704,282 shares of the company’s stock after buying an additional 55,350 shares during the period. Gamco Investors INC. ET AL owned 0.06% of Sinclair worth $59,787,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. HighTower Advisors LLC lifted its stake in Sinclair by 15.4% during the 3rd 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. Barclays PLC grew its position in Sinclair by 378.1% in the 3rd quarter. Barclays PLC now owns 54,229 shares of the company’s stock worth $831,000 after purchasing an additional 42,887 shares in the last quarter. Geode Capital Management LLC increased its stake in Sinclair by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 826,949 shares of the company’s stock valued at $12,655,000 after buying an additional 15,263 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Sinclair by 26.9% in the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock worth $47,000 after buying an additional 613 shares during the last quarter. Finally, San Luis Wealth Advisors LLC purchased a new stake in shares of Sinclair during the fourth quarter valued at approximately $791,000. 41.71% of the stock is owned by institutional investors and hedge funds.

Sinclair Trading Up 5.3 %

Shares of SBGI opened at $14.40 on Tuesday. The stock has a market capitalization of $957.15 million, a PE ratio of -4.36 and a beta of 1.29. Sinclair, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $18.46. The company’s fifty day moving average is $14.82 and its 200 day moving average is $15.87. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91.

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

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.94%. The ex-dividend date of this dividend was Monday, March 10th. Sinclair’s payout ratio is presently 21.46%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Sinclair

In other news, Chairman David D. Smith acquired 125,197 shares of Sinclair stock in a transaction on Thursday, April 3rd. The shares were bought at an average cost of $14.98 per share, for a total transaction of $1,875,451.06. Following the acquisition, the chairman now directly owns 1,207,968 shares of the company’s stock, valued at $18,095,360.64. This trade represents a 11.56 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders purchased a total of 458,530 shares of company stock valued at $6,636,392 in the last three months. Company insiders own 46.60% of the company’s stock.

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.