Cinctive Capital Management LP Purchases Shares of 66,432 Sinclair, Inc. $SBGI

Key Points

• Cinctive Capital Management LP acquired 66,432 shares of Sinclair, Inc. for approximately $1,058,000, representing a 0.10% stake in the company as per its recent regulatory filing.
• Sinclair's recent earnings report showed a loss of ($0.91) per share, missing estimates and reflecting a 5.4% decline in quarterly revenue compared to the previous year.
• The company announced a quarterly dividend of $0.25 per share, yielding 7.1%, with a payout ratio of 120.48%.

Cinctive Capital Management LP bought a new stake in Sinclair, Inc. (NASDAQ:SBGI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 66,432 shares of the company's stock, valued at approximately $1,058,000. Cinctive Capital Management LP owned approximately 0.10% of Sinclair as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Sinclair by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,302 shares of the company's stock valued at $295,000 after buying an additional 760 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Sinclair by 8.4% in the 1st quarter. Hsbc Holdings PLC now owns 11,446 shares of the company's stock valued at $182,000 after acquiring an additional 884 shares during the last quarter. Cetera Investment Advisers lifted its stake in Sinclair by 7.8% during the first quarter. Cetera Investment Advisers now owns 14,525 shares of the company's stock worth $231,000 after purchasing an additional 1,050 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in 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 last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in Sinclair by 71.5% during the first quarter. Harbor Capital Advisors Inc. now owns 4,937 shares of the company's stock worth $79,000 after purchasing an additional 2,058 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company's stock.

Sinclair Price Performance

Sinclair stock traded down $0.41 during mid-day trading on Tuesday, reaching $13.52. The company had a trading volume of 386,401 shares, compared to its average volume of 422,930. The stock's 50-day simple moving average is $14.39 and its 200-day simple moving average is $14.43. Sinclair, Inc. has a 1 year low of $11.89 and a 1 year high of $18.45. The company has a debt-to-equity ratio of 13.93, a current ratio of 1.89 and a quick ratio of 1.89. The company has a market capitalization of $941.63 million, a P/E ratio of 16.29 and a beta of 1.31.

Sinclair (NASDAQ:SBGI - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.91) earnings per share for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.19). Sinclair had a return on equity of 12.51% and a net margin of 1.44%.The firm had revenue of $784.00 million during the quarter, compared to analyst estimates of $798.16 million. During the same quarter in the prior year, the company earned $0.27 EPS. The business's revenue was down 5.4% on a year-over-year basis. On average, equities analysts predict that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a $0.25 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.4%. Sinclair's dividend payout ratio (DPR) is currently 120.48%.

Analyst Upgrades and Downgrades

SBGI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Sinclair from $14.00 to $13.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 21st. Guggenheim reduced their target price on Sinclair from $20.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, August 14th. Wall Street Zen downgraded Sinclair from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. Zacks Research raised Sinclair to a "hold" rating in a report on Thursday, August 21st. Finally, Benchmark cut their target price on shares of Sinclair from $29.00 to $27.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $18.30.

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.