Trexquant Investment LP Purchases Shares of 104,610 Sinclair, Inc. (NASDAQ:SBGI)

Trexquant Investment LP bought a new position in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 104,610 shares of the company's stock, valued at approximately $1,688,000. Trexquant Investment LP owned approximately 0.16% of Sinclair at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 64,683 shares during the period. JPMorgan Chase & Co. grew its holdings in Sinclair by 188.0% during the fourth quarter. JPMorgan Chase & Co. now owns 80,206 shares of the company's stock worth $1,295,000 after acquiring an additional 52,355 shares during the period. San Luis Wealth Advisors LLC bought a new stake in Sinclair in the fourth quarter worth about $791,000. Barclays PLC lifted its holdings in Sinclair by 378.1% in the 3rd quarter. Barclays PLC now owns 54,229 shares of the company's stock valued at $831,000 after acquiring an additional 42,887 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Sinclair during the 4th quarter valued at about $507,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Sinclair Stock Up 1.1 %

SBGI traded up $0.17 during midday trading on Tuesday, hitting $14.57. 84,788 shares of the company's stock traded hands, compared to its average volume of 355,520. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. The company has a market cap of $968.12 million, a PE ratio of -4.42 and a beta of 1.29. Sinclair, Inc. has a one year low of $11.13 and a one year high of $18.46. The stock's fifty day simple moving average is $14.82 and its 200-day simple moving average is $15.87.

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Sinclair (NASDAQ:SBGI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.99 by $0.62. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The firm had revenue of $1 billion during the quarter, compared to analysts' expectations of $1.01 billion. As a group, equities analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal 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 given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.00 dividend on an annualized basis and a yield of 6.87%. Sinclair's payout ratio is currently 21.46%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Sinclair

In other news, Chairman David D. Smith bought 38,410 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of $14.01 per share, for a total transaction of $538,124.10. Following the acquisition, the chairman now directly owns 645,564 shares of the company's stock, valued at $9,044,351.64. The trade was a 6.33 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have purchased a total of 458,530 shares of company stock worth $6,636,392 over the last 90 days. Insiders own 46.60% of the company's stock.

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.