24,464 Shares in Sinclair, Inc. (NASDAQ:SBGI) Purchased by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. bought a new stake in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 24,464 shares of the company's stock, valued at approximately $395,000.

Several other hedge funds also recently added to or reduced their stakes in the business. New York State Common Retirement Fund increased its position in Sinclair by 29.4% during the 4th quarter. New York State Common Retirement Fund now owns 7,480 shares of the company's stock valued at $121,000 after buying an additional 1,700 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Sinclair by 5.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,500 shares of the company's stock valued at $590,000 after purchasing an additional 2,035 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Sinclair by 8.5% in the fourth quarter. Wells Fargo & Company MN now owns 33,548 shares of the company's stock valued at $541,000 after purchasing an additional 2,620 shares during the period. Federated Hermes Inc. acquired a new position in shares of Sinclair in the fourth quarter valued at about $47,000. Finally, Barclays PLC increased its holdings in shares of Sinclair by 6.9% in the fourth quarter. Barclays PLC now owns 57,974 shares of the company's stock valued at $935,000 after purchasing an additional 3,745 shares during the period. 41.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Sinclair news, Chairman David D. Smith purchased 38,410 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $14.01 per share, with a total value of $538,124.10. Following the purchase, the chairman now directly owns 645,564 shares in the company, valued at approximately $9,044,351.64. This trade represents a 6.33% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have acquired a total of 458,530 shares of company stock valued at $6,636,392 in the last quarter. Insiders own 41.90% of the company's stock.

Sinclair Price Performance

Shares of NASDAQ SBGI traded down $0.47 during midday trading on Friday, hitting $13.97. The stock had a trading volume of 529,370 shares, compared to its average volume of 351,211. Sinclair, Inc. has a 1 year low of $11.13 and a 1 year 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. The company has a market capitalization of $971.92 million, a PE ratio of -4.23 and a beta of 1.36. The stock has a 50 day simple moving average of $14.68 and a 200-day simple moving average of $15.41.

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

Sinclair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 7.16%. The ex-dividend date is Friday, May 30th. Sinclair's dividend payout ratio (DPR) is presently 49.75%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SBGI shares. Wells Fargo & Company cut their price objective on Sinclair from $19.00 to $17.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th. Benchmark lowered their target price on Sinclair from $30.00 to $29.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Wall Street Zen downgraded Sinclair from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. JPMorgan Chase & Co. lowered their price target on Sinclair from $14.00 to $13.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 21st. Finally, Guggenheim restated a "buy" rating on shares of Sinclair in a research report on Thursday, May 15th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $18.50.

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.