Caption Management LLC Decreases Position in Sinclair, Inc. (NASDAQ:SBGI)

Caption Management LLC lessened its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 60.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 82,679 shares of the company's stock after selling 124,721 shares during the period. Caption Management LLC owned 0.12% of Sinclair worth $1,334,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Barclays PLC grew its position in Sinclair by 378.1% in the 3rd quarter. Barclays PLC now owns 54,229 shares of the company's stock worth $831,000 after purchasing an additional 42,887 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Sinclair by 26.9% in the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company's stock valued at $47,000 after acquiring an additional 613 shares in the last quarter. San Luis Wealth Advisors LLC bought a new position in shares of Sinclair in the fourth quarter valued at approximately $791,000. Empowered Funds LLC boosted its holdings in shares of Sinclair by 5.1% in the fourth quarter. Empowered Funds LLC now owns 243,973 shares of the company's stock valued at $3,938,000 after acquiring an additional 11,883 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Sinclair by 56.3% in the fourth quarter. Rhumbline Advisers now owns 86,072 shares of the company's stock valued at $1,389,000 after acquiring an additional 31,015 shares in the last quarter. Institutional investors own 41.71% of the company's stock.

Sinclair Trading Up 2.7%

SBGI traded up $0.41 during mid-day trading on Monday, reaching $15.65. The stock had a trading volume of 109,892 shares, compared to its average volume of 343,924. Sinclair, Inc. has a 52 week low of $11.13 and a 52 week high of $18.45. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. The stock has a market capitalization of $1.04 billion, a P/E ratio of -4.74 and a beta of 1.36. The firm's fifty day simple moving average is $14.86 and its two-hundred day simple moving average is $15.61.

Sinclair (NASDAQ:SBGI - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($2.18) EPS for the quarter, missing analysts' consensus estimates of ($1.78) by ($0.40). The firm had revenue of $776.00 million during the quarter, compared to the consensus estimate of $774.79 million. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. Sinclair's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 EPS. On average, equities analysts predict that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.00 dividend on an annualized basis and a yield of 6.39%. Sinclair's dividend payout ratio (DPR) is 49.75%.

Insider Activity at Sinclair

In other news, Chairman David D. Smith bought 30,296 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $14.09 per share, for a total transaction of $426,870.64. Following the completion of the acquisition, the chairman now directly owns 728,986 shares in the company, valued at approximately $10,271,412.74. This represents a 4.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have bought 458,530 shares of company stock valued at $6,636,392 over the last three months. 41.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. Guggenheim cut their target price on shares of Sinclair from $19.00 to $17.00 and set a "buy" rating for the company in a research note on Monday, March 10th. StockNews.com downgraded shares of Sinclair from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Benchmark cut their price objective on Sinclair from $30.00 to $29.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Finally, Wells Fargo & Company dropped their price objective on Sinclair from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $19.10.

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.