Jump Financial LLC Decreases Stake in Sinclair, Inc. (NASDAQ:SBGI)

Jump Financial LLC decreased its position in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 52.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,820 shares of the company's stock after selling 32,460 shares during the period. Jump Financial LLC's holdings in Sinclair were worth $481,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Trexquant Investment LP acquired a new stake in Sinclair in the fourth quarter valued at approximately $1,688,000. Vanguard Group Inc. increased its position in Sinclair by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 3,714,036 shares of the company's stock valued at $59,945,000 after buying an additional 64,683 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Sinclair by 188.0% in the fourth quarter. JPMorgan Chase & Co. now owns 80,206 shares of the company's stock valued at $1,295,000 after buying an additional 52,355 shares during the last quarter. San Luis Wealth Advisors LLC acquired a new stake in Sinclair in the fourth quarter worth about $791,000. Finally, Barclays PLC grew its stake in shares of Sinclair by 378.1% during the third quarter. Barclays PLC now owns 54,229 shares of the company's stock worth $831,000 after acquiring an additional 42,887 shares during the last quarter. Hedge funds and other institutional investors own 41.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SBGI shares. Benchmark restated a "buy" rating and set a $30.00 price target on shares of Sinclair in a research note on Tuesday, January 28th. Wells Fargo & Company cut their target price on Sinclair from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. StockNews.com cut Sinclair from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $19.30.

Sinclair Stock Performance

SBGI traded down $0.50 during midday trading on Tuesday, hitting $14.37. 113,511 shares of the company were exchanged, compared to its average volume of 337,378. The firm has a market capitalization of $955.16 million, a price-to-earnings ratio of -4.35 and a beta of 1.29. The company's 50 day simple moving average is $14.73 and its 200 day simple moving average is $15.73. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. Sinclair, Inc. has a 1-year low of $11.13 and a 1-year high of $18.45.

Sinclair (NASDAQ:SBGI - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.99 by $0.62. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The company had revenue of $1 billion during the quarter, compared to analysts' expectations of $1.01 billion. As a group, sell-side analysts predict that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.96%. The ex-dividend date of this dividend was Monday, March 10th. Sinclair's payout ratio is currently 21.46%.

Insiders Place Their Bets

In other news, Chairman David D. Smith purchased 38,410 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $14.01 per share, with a total value of $538,124.10. Following the purchase, the chairman now directly owns 645,564 shares in the company, valued at approximately $9,044,351.64. This represents a 6.33 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders purchased 458,530 shares of company stock valued at $6,636,392 in the last three months. 46.60% of the stock is currently owned by insiders.

About Sinclair

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.