Sinclair, Inc. $SBGI Shares Sold by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC reduced its stake in Sinclair, Inc. by 47.2% during Q1, holding 37,593 shares worth approximately $599,000 after selling 33,611 shares.
• Diverse large investors, including Charles Schwab Investment Management and Gamco Investors, have increased their positions in Sinclair, indicating institutional interest with 41.71% of shares owned by these entities.
• Sinclair reported a quarterly EPS of ($0.91), missing estimates, and announced a quarterly dividend of $0.25, reflecting a 7.5% annualized yield.

Cubist Systematic Strategies LLC lowered its position in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 47.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,593 shares of the company's stock after selling 33,611 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.06% of Sinclair worth $599,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Sinclair by 65.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 717,007 shares of the company's stock valued at $11,422,000 after acquiring an additional 282,400 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in Sinclair in the fourth quarter worth $395,000. Gamco Investors INC. ET AL increased its stake in Sinclair by 1.0% during the first quarter. Gamco Investors INC. ET AL now owns 3,740,387 shares of the company's stock valued at $59,584,000 after purchasing an additional 36,105 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Sinclair by 1,804.4% during the first quarter. GAMMA Investing LLC now owns 55,150 shares of the company's stock worth $879,000 after purchasing an additional 52,254 shares during the period. Finally, Algert Global LLC acquired a new stake in shares of Sinclair during the first quarter worth $1,608,000. Institutional investors own 41.71% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SBGI shares. Guggenheim decreased their price target on shares of Sinclair from $20.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, August 14th. Zacks Research upgraded Sinclair to a "hold" rating in a research note on Thursday, August 21st. JPMorgan Chase & Co. lowered their target price on Sinclair from $14.00 to $13.00 and set an "underweight" rating for the company in a report on Wednesday, May 21st. Wells Fargo & Company cut their price target on Sinclair from $17.00 to $16.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. Finally, Benchmark lowered their price objective on Sinclair from $29.00 to $27.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $18.30.

Sinclair Stock Performance

Shares of SBGI traded down $0.01 during mid-day trading on Tuesday, reaching $13.94. 361,213 shares of the company's stock traded hands, compared to its average volume of 408,945. The business's 50-day moving average price is $14.29 and its 200-day moving average price is $14.40. The stock has a market capitalization of $970.92 million, a P/E ratio of 16.80 and a beta of 1.31. The company has a debt-to-equity ratio of 13.93, a quick ratio of 1.89 and a current ratio of 1.89. Sinclair, Inc. has a 12 month low of $11.89 and a 12 month high of $18.45.

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

Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.00 annualized dividend and a yield of 7.2%. Sinclair's dividend payout ratio is presently 120.48%.

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.