Allianz Asset Management GmbH Has $1.52 Million Stock Position in Sinclair, Inc. $SBGI

Allianz Asset Management GmbH boosted its holdings in Sinclair, Inc. (NASDAQ:SBGI) by 130.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,575 shares of the company’s stock after buying an additional 57,005 shares during the period. Allianz Asset Management GmbH’s holdings in Sinclair were worth $1,519,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Capital Management Corp VA increased its position in Sinclair by 6.2% during the third quarter. Capital Management Corp VA now owns 1,655,050 shares of the company’s stock worth $24,991,000 after acquiring an additional 97,226 shares during the period. Arizona State Retirement System bought a new position in shares of Sinclair during the 3rd quarter worth about $164,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Sinclair during the third quarter valued at about $375,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Sinclair by 47.9% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 40,707 shares of the company’s stock valued at $615,000 after buying an additional 13,181 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Sinclair during the third quarter worth about $236,000. 41.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on SBGI shares. Zacks Research raised Sinclair from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Wall Street Zen upgraded Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sinclair in a research note on Monday, December 29th. Finally, Guggenheim increased their price objective on shares of Sinclair from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Sinclair currently has an average rating of “Hold” and a consensus target price of $19.00.

Insiders Place Their Bets

In other news, EVP David B. Gibber sold 29,376 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $16.67, for a total transaction of $489,697.92. Following the transaction, the executive vice president directly owned 165,272 shares in the company, valued at approximately $2,755,084.24. This represents a 15.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Howard E. Friedman sold 14,713 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $15.11, for a total transaction of $222,313.43. Following the sale, the director directly owned 77,685 shares in the company, valued at $1,173,820.35. This trade represents a 15.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 50,637 shares of company stock valued at $815,535. Insiders own 41.90% of the company’s stock.

Sinclair Stock Down 3.1%

Shares of NASDAQ SBGI opened at $14.61 on Friday. The firm’s 50-day simple moving average is $15.11 and its 200 day simple moving average is $14.62. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -23.56 and a beta of 0.96. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 14.77. Sinclair, Inc. has a 12-month low of $11.89 and a 12-month high of $17.88.

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.