10 Worst Broadcasting Stocks to Buy According to Short Sellers

5. Sinclair Inc. (NASDAQ:SBGI)

Short % of Shares Outstanding As of August 15: 4.97%

Number of Hedge Fund Holders: 10

Sinclair Inc. (NASDAQ:SBGI) is a diversified media company and a leading television broadcasting company that provides local news and entertainment. It has 183 operating stations covering 38% of US television households. Over 50% of their news operations rank number one or two.

Q2 2024 revenue was up 8% year-over-year. By August, the company had $146 million in political advertising booked for the second half of 2024, almost double the amount in 2020.

It is expanding its podcast division with new sports shows, aiming to provide exclusive access to the stories of athletes and games. Management reported that 97 of the 100 most-watched telecasts in 2023 were on broadcast TV, and 96 were sports content. The company’s focus on sports content is also justified when we see that the Paris Summer Olympics ratings on NBC are up 80% compared to the 2021 games.

Just recently on September 5, the company also announced the return of Full Measure with Sharyl Attkisson for its 10th season. The 30-minute-long investigative news program airs on Sunday mornings on company television stations and live online. This season will focus on immigration and its impact on the presidential race and European politics, premiering on September 8.

It also partnered with Feeding America to help provide 1.2 million meals to children and families, with $25,000 in donations to the campaign.

Sinclair Inc. (NASDAQ:SBGI) is making a positive impact through its community initiatives and award-winning journalism. Its commitment to social responsibility and excellence makes it a promising investment. The company is held by 10 hedge funds, as of the second quarter of this year. Sinclair Inc.’s (NASDAQ:SBGI) shares are shorted by 4.97%.