Aristeia Capital L.L.C. Trims Stock Holdings in Sinclair, Inc. (NASDAQ:SBGI)

Aristeia Capital L.L.C. lessened its stake in Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 61.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,494 shares of the company's stock after selling 28,329 shares during the period. Aristeia Capital L.L.C.'s holdings in Sinclair were worth $282,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in Sinclair by 26.9% in the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company's stock valued at $47,000 after buying an additional 613 shares in the last quarter. Federated Hermes Inc. bought a new position in shares of Sinclair in the 4th quarter worth $47,000. New York State Common Retirement Fund increased its holdings in Sinclair by 29.4% in the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company's stock valued at $121,000 after purchasing an additional 1,700 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Sinclair during the 4th quarter worth about $123,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Sinclair in the 4th quarter valued at approximately $194,000. Institutional investors own 41.71% of the company's stock.

Wall Street Analysts Forecast Growth

SBGI has been the subject of several research analyst reports. StockNews.com cut shares of Sinclair from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Guggenheim reduced their price target on Sinclair from $19.00 to $17.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Wells Fargo & Company cut their price objective on Sinclair from $19.00 to $17.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Finally, Benchmark cut 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $19.10.

Insiders Place Their Bets

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 shares were bought at an average cost of $12.91 per share, with a total value of $814,272.43. Following the acquisition, the chairman now owns 1,526,029 shares in the company, valued at approximately $19,701,034.39. This represents a 4.31 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired 458,530 shares of company stock worth $6,636,392 over the last quarter. 46.60% of the stock is currently owned by company insiders.

Sinclair Trading Up 1.1 %

Shares of NASDAQ SBGI traded up $0.16 during trading on Friday, reaching $15.10. The company had a trading volume of 160,107 shares, compared to its average volume of 361,716. The company's fifty day moving average price is $14.82 and its 200-day moving average price is $15.63. 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, Inc. has a 12 month low of $11.13 and a 12 month high of $18.46. The stock has a market cap of $1.00 billion, a P/E ratio of -4.58 and a beta of 1.36.

Sinclair (NASDAQ:SBGI - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($2.18) earnings per share for the quarter, missing analysts' consensus estimates of ($1.78) by ($0.40). The business had revenue of $776.00 million during the quarter, compared to analyst estimates of $774.79 million. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The company's revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 EPS. As a group, research analysts expect that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.62%. Sinclair's dividend payout ratio (DPR) is presently 21.46%.

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.