Trexquant Investment LP Increases Position in Sinclair, Inc. $SBGI

Key Points

• Trexquant Investment LP increased its holdings in Sinclair, Inc. by 50.9%, now owning 157,866 shares valued at approximately $2.5 million.
• Sinclair announced a quarterly dividend of $0.25 per share, resulting in an annualized yield of 7.1%, despite a high dividend payout ratio of 120.48%.
• Recent analyst reports show a mix of ratings for Sinclair stock, with a consensus rating of "Hold" and a price target of $18.30.

Trexquant Investment LP boosted its holdings in Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 50.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 157,866 shares of the company's stock after purchasing an additional 53,256 shares during the quarter. Trexquant Investment LP owned about 0.24% of Sinclair worth $2,515,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. DekaBank Deutsche Girozentrale purchased a new stake in Sinclair in the first quarter worth about $58,000. NBC Securities Inc. grew its holdings in Sinclair by 105,075.0% in the first quarter. NBC Securities Inc. now owns 4,207 shares of the company's stock worth $67,000 after purchasing an additional 4,203 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of Sinclair by 71.5% in the first quarter. Harbor Capital Advisors Inc. now owns 4,937 shares of the company's stock worth $79,000 after buying an additional 2,058 shares in the last quarter. Central Pacific Bank Trust Division lifted its stake in shares of Sinclair by 77.8% in the first quarter. Central Pacific Bank Trust Division now owns 8,000 shares of the company's stock worth $127,000 after buying an additional 3,500 shares in the last quarter. Finally, AlphaQuest LLC lifted its stake in shares of Sinclair by 720.1% in the first quarter. AlphaQuest LLC now owns 8,324 shares of the company's stock worth $133,000 after buying an additional 7,309 shares in the last quarter. Hedge funds and other institutional investors own 41.71% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Sinclair to a "hold" rating in a research note on Thursday, August 21st. Benchmark dropped their target price on shares of Sinclair from $29.00 to $27.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. 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 note on Wednesday, May 21st. Guggenheim dropped their target price on shares of Sinclair from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, August 14th. Finally, Wall Street Zen downgraded shares of Sinclair from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Sinclair currently has a consensus rating of "Hold" and a consensus price target of $18.30.

Sinclair Stock Down 1.1%

Shares of Sinclair stock opened at $14.07 on Thursday. The company has a market cap of $979.98 million, a price-to-earnings ratio of 16.95 and a beta of 1.31. The company's 50 day moving average is $14.37 and its 200 day moving average is $14.46. Sinclair, Inc. has a twelve month low of $11.89 and a twelve month high of $18.45. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 13.93.

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

Sinclair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend is Friday, August 29th. Sinclair's dividend payout ratio is currently 120.48%.

Sinclair Company 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.

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