Sinclair, Inc. (NASDAQ:SBGI) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP reduced its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 67.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 8,525 shares of the company's stock after selling 17,840 shares during the period. Quantbot Technologies LP's holdings in Sinclair were worth $138,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in shares of Sinclair by 26.9% during the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company's stock worth $47,000 after purchasing an additional 613 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Sinclair in the 3rd quarter worth $91,000. 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 worth $121,000 after acquiring an additional 1,700 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Sinclair in the third quarter valued at about $121,000. Finally, Aigen Investment Management LP acquired a new position in shares of Sinclair during the fourth quarter worth about $262,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Sinclair Price Performance

NASDAQ SBGI traded down $1.36 during mid-day trading on Thursday, hitting $14.74. The stock had a trading volume of 579,821 shares, compared to its average volume of 349,352. The company has a 50 day simple moving average of $15.00 and a 200 day simple moving average of $15.90. The company has a market cap of $979.75 million, a price-to-earnings ratio of -4.47 and a beta of 1.50. Sinclair, Inc. has a 52-week low of $11.13 and a 52-week high of $18.46. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73.

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Sinclair (NASDAQ:SBGI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, beating 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 business had revenue of $1 billion during the quarter, compared to analysts' expectations of $1.01 billion. Equities analysts forecast that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Announces Dividend

The firm also recently declared 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 dividend yield of 6.78%. The ex-dividend date of this dividend was Monday, March 10th. Sinclair's dividend payout ratio (DPR) is presently 21.46%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SBGI shares. StockNews.com lowered Sinclair from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Benchmark restated a "buy" rating and issued a $30.00 price target on shares of Sinclair in a research note on Tuesday, January 28th. Guggenheim cut their price objective on Sinclair from $19.00 to $17.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Finally, Wells Fargo & Company decreased their target price on shares of Sinclair from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Sinclair presently has a consensus rating of "Hold" and a consensus price target of $19.30.

Insider Buying and Selling at Sinclair

In related news, Chairman David D. Smith acquired 30,296 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $14.09 per share, for a total transaction of $426,870.64. Following the transaction, the chairman now directly owns 728,986 shares of the company's stock, valued at approximately $10,271,412.74. This trade represents a 4.34 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have acquired 262,541 shares of company stock valued at $3,844,778 over the last quarter. Corporate insiders own 46.60% of the company's stock.

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.