Point72 Asset Management L.P. Buys 73,006 Shares of Sinclair, Inc. (NASDAQ:SBGI)

Point72 Asset Management L.P. increased its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 52.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 210,939 shares of the company's stock after purchasing an additional 73,006 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.32% of Sinclair worth $3,405,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Federated Hermes Inc. bought a new position in shares of Sinclair during the 4th quarter valued at about $47,000. New York State Common Retirement Fund boosted its stake in Sinclair by 29.4% during the fourth 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 during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Sinclair during the 4th quarter valued at approximately $123,000. EntryPoint Capital LLC bought a new stake in Sinclair in the 4th quarter worth approximately $194,000. Finally, Ameriprise Financial Inc. bought a new stake in Sinclair in the 4th quarter worth approximately $194,000. Institutional investors own 41.71% of the company's stock.

Sinclair Trading Up 0.7%

SBGI stock traded up $0.10 during mid-day trading on Monday, reaching $14.13. 340,333 shares of the stock traded hands, compared to its average volume of 351,242. The business has a 50-day moving average price of $14.92 and a two-hundred day moving average price of $15.46. The stock has a market capitalization of $983.05 million, a PE ratio of -4.28 and a beta of 1.36. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. Sinclair, Inc. has a one year low of $11.13 and a one year high of $18.46.

Sinclair (NASDAQ:SBGI - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $776.00 million during the quarter, compared to the consensus estimate of $774.79 million. During the same period last year, the company earned $0.35 EPS. The business's revenue was down 2.8% compared to the same quarter last year. Equities research analysts expect that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 7.08%. The ex-dividend date is Friday, May 30th. Sinclair's dividend payout ratio is 49.75%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SBGI shares. Wall Street Zen lowered shares of Sinclair from a "hold" rating to a "sell" rating in a report on Monday, May 12th. JPMorgan Chase & Co. dropped their price objective on shares of Sinclair from $14.00 to $13.00 and set an "underweight" rating for the company in a research note on Wednesday, May 21st. Wells Fargo & Company reduced 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 reaffirmed a "buy" rating on shares of Sinclair in a report on Thursday, May 15th. Finally, Benchmark dropped their price target on Sinclair from $30.00 to $29.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $18.50.

Insider Transactions at Sinclair

In other news, Chairman David D. Smith acquired 63,073 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The stock was purchased at an average cost of $12.91 per share, for a total transaction of $814,272.43. Following the completion of the acquisition, the chairman now directly owns 1,526,029 shares of the company's stock, valued at $19,701,034.39. The trade was a 4.31% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have bought 458,530 shares of company stock valued at $6,636,392. 41.90% of the stock is currently owned by corporate insiders.

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.