Two Sigma Investments LP Sells 48,727 Shares of Sinclair, Inc. (NASDAQ:SBGI)

Two Sigma Investments LP decreased its stake in Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 78.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,555 shares of the company's stock after selling 48,727 shares during the period. Two Sigma Investments LP's holdings in Sinclair were worth $219,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Point72 Asset Management L.P. raised its position in Sinclair by 52.9% in the fourth quarter. Point72 Asset Management L.P. now owns 210,939 shares of the company's stock worth $3,405,000 after acquiring an additional 73,006 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 worth $295,000 after acquiring an additional 760 shares during the period. Empyrean Capital Partners LP raised its position in Sinclair by 8.0% in the fourth quarter. Empyrean Capital Partners LP now owns 1,144,493 shares of the company's stock worth $18,472,000 after acquiring an additional 84,493 shares during the period. D. E. Shaw & Co. Inc. bought a new stake in Sinclair in the fourth quarter worth about $395,000. Finally, Deutsche Bank AG raised its position in Sinclair by 54.0% in the fourth quarter. Deutsche Bank AG now owns 32,158 shares of the company's stock worth $519,000 after acquiring an additional 11,275 shares during the period. Institutional investors own 41.71% of the company's stock.

Sinclair Price Performance

NASDAQ:SBGI traded down $0.16 during mid-day trading on Friday, hitting $13.00. 444,673 shares of the stock traded hands, compared to its average volume of 358,884. The business's 50-day moving average price is $14.31 and its 200 day moving average price is $15.15. The company has a market cap of $904.44 million, a PE ratio of -3.94 and a beta of 1.32. Sinclair, Inc. has a 12-month low of $11.13 and a 12-month 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.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued 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). The firm had revenue of $776.00 million for the quarter, compared to analysts' expectations of $774.79 million. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. Sinclair's revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 EPS. On average, analysts expect that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.25 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.00 dividend on an annualized basis and a yield of 7.69%. Sinclair's dividend payout ratio is presently 49.75%.

Insiders Place Their Bets

In related news, Chairman David D. Smith purchased 63,073 shares of the business's stock in a transaction on Wednesday, April 9th. The stock was acquired at an average price of $12.91 per share, with a total value of $814,272.43. Following the purchase, the chairman now directly owns 1,526,029 shares in the company, valued at approximately $19,701,034.39. This represents a 4.31% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased a total of 280,098 shares of company stock valued at $4,134,511 in the last quarter. Corporate insiders own 46.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price 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. Guggenheim reiterated a "buy" rating on shares of Sinclair in a research note on Thursday, May 15th. Wall Street Zen downgraded shares of Sinclair from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. Benchmark reduced their target price on shares of Sinclair from $30.00 to $29.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company reduced their target price on shares of Sinclair from $19.00 to $17.00 and set an "equal weight" rating for the company in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Sinclair has a consensus rating of "Hold" and an average target price of $18.50.

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.