ExodusPoint Capital Management LP Purchases 35,875 Shares of Sinclair, Inc. (NASDAQ:SBGI)

ExodusPoint Capital Management LP boosted its stake in Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 112.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,772 shares of the company's stock after purchasing an additional 35,875 shares during the period. ExodusPoint Capital Management LP owned about 0.10% of Sinclair worth $1,094,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in 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 buying an additional 613 shares during the last quarter. 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 period. KLP Kapitalforvaltning AS bought a new stake in shares of Sinclair during the 4th quarter valued at about $123,000. EntryPoint Capital LLC acquired a new stake in Sinclair during the fourth quarter worth approximately $194,000. Finally, Aigen Investment Management LP acquired a new position in Sinclair in the fourth quarter valued at approximately $262,000. 41.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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Sinclair Stock Down 0.8 %

Sinclair stock traded down $0.12 during midday trading on Wednesday, hitting $14.27. 23,961 shares of the stock were exchanged, compared to its average volume of 355,318. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. The stock has a market capitalization of $948.18 million, a price-to-earnings ratio of -4.32 and a beta of 1.29. Sinclair, Inc. has a 52-week low of $11.13 and a 52-week high of $18.46. The business's 50-day moving average price is $14.81 and its 200-day moving average price is $15.86.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 EPS for the quarter, topping analysts' consensus estimates of $1.99 by $0.62. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. On average, research analysts expect that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.00 annualized dividend and a dividend yield of 7.01%. Sinclair's payout ratio is presently 21.46%.

Insiders Place Their Bets

In related news, Chairman David D. Smith bought 63,073 shares of the company's stock in a transaction on Wednesday, April 9th. The shares were purchased at an average price of $12.91 per share, for a total transaction of $814,272.43. Following the completion of the transaction, the chairman now directly owns 1,526,029 shares in the company, valued at approximately $19,701,034.39. The trade was a 4.31 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders acquired 458,530 shares of company stock worth $6,636,392 over the last quarter. 46.60% of the stock is currently owned by company insiders.

Sinclair 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.