Sinclair, Inc. (NASDAQ:SBGI) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lessened its holdings in Sinclair, Inc. (NASDAQ:SBGI) by 28.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,204 shares of the company’s stock after selling 28,474 shares during the period. Cubist Systematic Strategies LLC’s holdings in Sinclair were worth $1,149,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Sinclair by 26.9% in the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after purchasing an additional 613 shares during the last quarter. Federated Hermes Inc. acquired a new position in shares of Sinclair in the 4th quarter valued at $47,000. New York State Common Retirement Fund lifted its stake in shares of Sinclair by 29.4% in the 4th quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock valued at $121,000 after purchasing an additional 1,700 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Sinclair in the 4th quarter valued at $123,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Sinclair in the 4th quarter valued at $194,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Sinclair Price Performance

Shares of NASDAQ SBGI opened at $15.94 on Wednesday. The stock’s 50-day moving average is $14.92 and its two-hundred day moving average is $15.61. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. Sinclair, Inc. has a 1-year low of $11.13 and a 1-year high of $18.46. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -4.83 and a beta of 1.36.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($2.18) earnings per share for the quarter, missing the consensus estimate of ($1.78) by ($0.40). Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The company had revenue of $776.00 million for the quarter, compared to analysts’ expectations of $774.79 million. During the same quarter last year, the company earned $0.35 EPS. Sinclair’s revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts forecast that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, May 30th. This represents a $1.00 annualized dividend and a yield of 6.27%. Sinclair’s dividend payout ratio (DPR) is 49.75%.

Insiders Place Their Bets

In related news, Chairman David D. Smith purchased 30,296 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $14.09 per share, for a total transaction of $426,870.64. Following the acquisition, the chairman now directly owns 728,986 shares in the company, valued at $10,271,412.74. This trade represents a 4.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 458,530 shares of company stock worth $6,636,392 in the last quarter. 41.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SBGI. StockNews.com lowered Sinclair from a “hold” rating to a “sell” rating in a research note on Monday. Benchmark cut their price objective on Sinclair from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Guggenheim cut their price objective on Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Finally, Wells Fargo & Company cut their price objective on Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sinclair presently has a consensus rating of “Hold” and an average price target of $19.10.

Sinclair Company 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.