Renaissance Technologies LLC Sells 54,671 Shares of Sinclair, Inc. (NASDAQ:SBGI)

Renaissance Technologies LLC cut its holdings in Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 76.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 16,400 shares of the company's stock after selling 54,671 shares during the period. Renaissance Technologies LLC's holdings in Sinclair were worth $219,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of SBGI. Price T Rowe Associates Inc. MD boosted its holdings in Sinclair by 52.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 114,864 shares of the company's stock valued at $1,549,000 after acquiring an additional 39,624 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Sinclair during the first quarter valued at about $1,359,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Sinclair by 92.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,706 shares of the company's stock worth $144,000 after buying an additional 5,147 shares in the last quarter. Los Angeles Capital Management LLC raised its position in Sinclair by 14.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 23,226 shares of the company's stock worth $313,000 after purchasing an additional 2,900 shares during the period. Finally, Inspire Advisors LLC bought a new position in Sinclair in the second quarter worth about $1,552,000. Institutional investors own 41.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SBGI shares. StockNews.com upgraded shares of Sinclair from a "sell" rating to a "hold" rating in a research report on Saturday, September 28th. Rosenblatt Securities increased their price target on Sinclair from $16.40 to $16.50 and gave the company a "neutral" rating in a report on Friday, September 20th. Finally, Benchmark lifted their price target on Sinclair from $29.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $19.88.

Sinclair Stock Performance

Shares of SBGI traded up $1.02 during trading hours on Friday, hitting $17.68. The company had a trading volume of 441,449 shares, compared to its average volume of 441,068. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 14.93. Sinclair, Inc. has a 12 month low of $9.69 and a 12 month high of $17.71. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -3.23, a PEG ratio of 0.14 and a beta of 1.55. The business has a fifty day moving average of $14.14 and a 200-day moving average of $13.55.

Sinclair (NASDAQ:SBGI - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.40. Sinclair had a positive return on equity of 22.55% and a negative net margin of 10.78%. The firm had revenue of $829.00 million for the quarter, compared to the consensus estimate of $836.65 million. During the same quarter in the prior year, the business posted ($1.09) earnings per share. The business's quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts anticipate that Sinclair, Inc. will post 4.57 EPS for the current fiscal year.

Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.66%. Sinclair's dividend payout ratio is presently -18.28%.

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.