Sinclair, Inc. (NASDAQ:SBGI) is Alden Global Capital LLC's 2nd Largest Position

Alden Global Capital LLC increased its stake in Sinclair, Inc. (NASDAQ:SBGI) by 10.5% in Q2, making it the fund's second-largest position, accounting for 13.5% of its portfolio. Other hedge funds also adjusted their holdings in Sinclair. The stock opened at $0.77, with a 12-month range of $0.39 to $0.58. Sinclair reported positive earnings, exceeding estimates, and declared a quarterly dividend of $0.25 per share. Analysts have mixed ratings on the stock, with an average target price of $0.88.

Alden Global Capital LLC raised its position in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 10.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,225,868 shares of the company's stock after purchasing an additional 116,074 shares during the quarter. Sinclair accounts for 13.5% of Alden Global Capital LLC's portfolio, making the stock its 2nd largest position. Alden Global Capital LLC owned approximately 1.85% of Sinclair worth $16,341,000 at the end of the most recent reporting period.

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A number of other hedge funds have also modified their holdings of SBGI. Gamco Investors INC. ET AL lifted its position in Sinclair by 2.4% during the first quarter. Gamco Investors INC. ET AL now owns 3,591,266 shares of the company's stock valued at $48,374,000 after purchasing an additional 85,070 shares during the period. Capital Management Corp VA lifted its stake in shares of Sinclair by 36.7% in the 1st quarter. Capital Management Corp VA now owns 2,006,720 shares of the company's stock valued at $27,031,000 after purchasing an additional 538,740 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Sinclair by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,889,863 shares of the company's stock worth $24,626,000 after buying an additional 78,793 shares in the last quarter. Gabelli Funds LLC increased its holdings in Sinclair by 1.7% in the second quarter. Gabelli Funds LLC now owns 1,208,700 shares of the company's stock valued at $16,112,000 after buying an additional 20,700 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Sinclair by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 648,481 shares of the company's stock worth $8,450,000 after acquiring an additional 13,874 shares during the period. 41.71% of the stock is owned by institutional investors and hedge funds.

Sinclair Price Performance

Shares of Sinclair stock opened at $14.77 on Wednesday. Sinclair, Inc. has a twelve month low of $9.39 and a twelve month high of $17.58. The firm's 50-day moving average price is $13.86 and its 200 day moving average price is $13.24. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 14.93.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.40. Sinclair had a positive return on equity of 22.55% and a negative net margin of 10.78%. The firm had revenue of $829.00 million for the quarter, compared to analyst estimates of $836.65 million. During the same period in the previous year, the company posted ($1.09) earnings per share. The business's revenue was up 7.9% on a year-over-year basis. On average, research analysts expect that Sinclair, Inc. will post 4.57 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.25 per share. The ex-dividend date was Friday, August 30th. This represents a $1.00 dividend on an annualized basis and a yield of 6.77%. Sinclair's payout ratio is presently -14.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SBGI shares. Benchmark raised their target price on Sinclair from $29.00 to $30.00 and gave the company a "buy" rating in a research report on Monday. StockNews.com cut Sinclair from a "hold" rating to a "sell" rating in a research report on Friday, September 20th. Finally, Rosenblatt Securities upped their target price on Sinclair from $16.40 to $16.50 and gave the stock a "neutral" rating in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $19.88.

Get Our Latest Research Report on Sinclair

Sinclair Company Profile

(Free Report)

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.

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