Aigen Investment Management LP Acquires Shares of 16,220 Sinclair, Inc. (NASDAQ:SBGI)

Aigen Investment Management LP bought a new position in Sinclair, Inc. (NASDAQ:SBGI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 16,220 shares of the company’s stock, valued at approximately $262,000.

Several other large investors have also recently modified their holdings of SBGI. GAMMA Investing LLC lifted its stake in shares of Sinclair by 26.9% during the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after buying an additional 613 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Sinclair by 29.4% during the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock worth $121,000 after acquiring an additional 1,700 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Sinclair by 15.4% during the third quarter. HighTower Advisors LLC now owns 28,463 shares of the company’s stock worth $433,000 after acquiring an additional 3,801 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Sinclair in the third quarter worth $91,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Sinclair in the third quarter valued at $121,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Insider Buying and Selling at Sinclair

In other news, Chairman David D. Smith acquired 30,296 shares of Sinclair stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average cost of $14.09 per share, for a total transaction of $426,870.64. Following the transaction, the chairman now owns 728,986 shares of the company’s stock, valued at $10,271,412.74. This trade represents a 4.34 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 46.60% of the company’s stock.

Sinclair Stock Down 1.5 %

SBGI stock opened at $14.40 on Monday. The company’s 50 day moving average is $15.04 and its 200 day moving average is $15.66. The stock has a market cap of $956.46 million, a price-to-earnings ratio of -4.36 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, Inc. has a 1-year low of $11.13 and a 1-year high of $18.45.

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

Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.00 dividend on an annualized basis and a yield of 6.94%. Sinclair’s payout ratio is 21.46%.

Analysts Set New Price Targets

SBGI has been the topic of a number of recent research reports. Guggenheim increased their price objective on Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. StockNews.com downgraded shares of Sinclair from a “buy” rating to a “hold” rating in a report on Thursday. Benchmark reaffirmed a “buy” rating and set a $30.00 price objective on shares of Sinclair in a research note on Tuesday, January 28th. Wells Fargo & Company decreased their target price 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. Finally, JPMorgan Chase & Co. raised their price target on shares of Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, three have given 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 $19.70.

About Sinclair

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.