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

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

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Sinclair by 26.9% in the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company's stock worth $47,000 after purchasing an additional 613 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Sinclair in the 4th quarter worth approximately $47,000. New York State Common Retirement Fund boosted its position in shares of 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 period. KLP Kapitalforvaltning AS purchased a new position in Sinclair in the 4th quarter worth about $123,000. Finally, EntryPoint Capital LLC bought a new position in shares of Sinclair during the fourth quarter valued at approximately $194,000. 41.71% of the stock is currently owned by institutional investors.

Insider Transactions at Sinclair

In other news, Chairman David D. Smith purchased 30,296 shares of Sinclair stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $14.09 per share, for a total transaction of $426,870.64. Following the purchase, the chairman now directly owns 728,986 shares of the company's stock, valued at $10,271,412.74. This trade represents a 4.34 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders bought 458,530 shares of company stock valued at $6,636,392 over the last three months. Company insiders own 46.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SBGI shares. StockNews.com lowered Sinclair from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Wells Fargo & Company cut their price target on shares of Sinclair from $19.00 to $17.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Benchmark dropped their price objective on shares of Sinclair from $30.00 to $29.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Guggenheim decreased their price target on Sinclair from $19.00 to $17.00 and set a "buy" rating for the company in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $19.10.

Sinclair Price Performance

NASDAQ:SBGI traded up $0.14 during trading hours on Wednesday, reaching $15.68. 525,214 shares of the company's stock were exchanged, compared to its average volume of 360,682. 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. The company has a market capitalization of $1.04 billion, a P/E ratio of -4.75 and a beta of 1.36. The business's 50-day simple moving average is $14.78 and its two-hundred day simple moving average is $15.64.

Sinclair (NASDAQ:SBGI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($2.18) EPS for the quarter, missing analysts' consensus estimates of ($1.58) by ($0.60). Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. Sell-side analysts expect that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.38%. Sinclair's payout ratio is 21.46%.

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.