Kingsview Wealth Management LLC Has $1.11 Million Holdings in Sinclair, Inc. (NASDAQ:SBGI)

Kingsview Wealth Management LLC cut its stake in Sinclair, Inc. (NASDAQ:SBGI) by 57.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,871 shares of the company’s stock after selling 114,012 shares during the period. Kingsview Wealth Management LLC owned approximately 0.13% of Sinclair worth $1,106,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. acquired a new position in shares of Sinclair during the third quarter valued at about $31,000. Russell Investments Group Ltd. bought a new stake in shares of Sinclair during the fourth quarter valued at approximately $117,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Sinclair during the third quarter valued at approximately $113,000. Nisa Investment Advisors LLC raised its stake in shares of Sinclair by 29,122.2% in the third quarter. Nisa Investment Advisors LLC now owns 10,520 shares of the company’s stock valued at $118,000 after purchasing an additional 10,484 shares in the last quarter. Finally, Valley Forge Investment Consultants Inc. ADV bought a new position in Sinclair in the third quarter worth $120,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Sinclair Price Performance

SBGI stock opened at $14.55 on Monday. The business has a fifty day moving average price of $12.93 and a 200 day moving average price of $13.72. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 15.29. Sinclair, Inc. has a fifty-two week low of $9.39 and a fifty-two week high of $17.58.

Sinclair (NASDAQ:SBGI) last announced its earnings results on Wednesday, February 28th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.35. The company had revenue of $826.00 million during the quarter, compared to analyst estimates of $838.75 million. Sinclair had a negative return on equity of 2.65% and a negative net margin of 14.34%. The firm’s quarterly revenue was down 14.0% compared to the same quarter last year. During the same period last year, the company posted $0.90 earnings per share. On average, analysts anticipate that Sinclair, Inc. will post 3.08 earnings per share for the current year.

Sinclair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.87%. Sinclair’s payout ratio is -14.04%.

Wall Street Analysts Forecast Growth

SBGI has been the subject of a number of recent research reports. StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Wells Fargo & Company lifted their price objective on Sinclair from $12.00 to $13.00 and gave the company an “underweight” rating in a report on Friday, March 1st. One equities research 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 MarketBeat.com, Sinclair currently has an average rating of “Hold” and a consensus target price of $18.14.

Insider Transactions at Sinclair

In related news, CAO David R. Bochenek sold 20,803 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $13.44, for a total value of $279,592.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Daniel C. Keith sold 30,086 shares of Sinclair stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $13.58, for a total value of $408,567.88. Following the completion of the sale, the director now directly owns 30,000 shares in the company, valued at $407,400. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO David R. Bochenek sold 20,803 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $13.44, for a total transaction of $279,592.32. The disclosure for this sale can be found here. 46.60% of the stock is owned by company insiders.

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.