Cubist Systematic Strategies LLC Decreases Stock Position in Sinclair, Inc. (NASDAQ:SBGI)

Cubist Systematic Strategies LLC trimmed its holdings in Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 28.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,204 shares of the company's stock after selling 28,474 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.11% of Sinclair worth $1,149,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SBGI. Carronade Capital Management LP grew its position in Sinclair by 418.1% in the 4th quarter. Carronade Capital Management LP now owns 440,419 shares of the company's stock valued at $7,108,000 after buying an additional 355,419 shares during the last quarter. Trexquant Investment LP purchased a new position in Sinclair in the 4th quarter valued at $1,688,000. Vanguard Group Inc. grew its position in Sinclair by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 3,714,036 shares of the company's stock valued at $59,945,000 after buying an additional 64,683 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Sinclair during the 4th quarter worth $940,000. Finally, Gamco Investors INC. ET AL boosted its position in shares of Sinclair by 1.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 3,704,282 shares of the company's stock worth $59,787,000 after purchasing an additional 55,350 shares in the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

Sinclair Trading Down 2.7%

Shares of NASDAQ SBGI traded down $0.42 on Friday, reaching $14.94. 389,556 shares of the company traded hands, compared to its average volume of 352,916. Sinclair, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $18.46. The company has a 50 day moving average of $14.99 and a 200 day moving average of $15.58. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. The stock has a market capitalization of $993.05 million, a PE ratio of -4.53 and a beta of 1.36.

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 ($1.78) by ($0.40). Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The company had revenue of $776.00 million for the quarter, compared to analyst estimates of $774.79 million. During the same period in the prior year, the company earned $0.35 EPS. The company's revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts forecast that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders 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 dividend yield of 6.69%. The ex-dividend date of this dividend is Friday, May 30th. Sinclair's dividend payout ratio is currently 49.75%.

Insider Activity

In other news, Chairman David D. Smith bought 30,296 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average price of $14.09 per share, for a total transaction of $426,870.64. Following the acquisition, the chairman now owns 728,986 shares of the company's stock, valued at $10,271,412.74. This trade represents a 4.34% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders purchased a total of 458,530 shares of company stock valued at $6,636,392 in the last 90 days. 41.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Guggenheim decreased their price objective on shares of Sinclair from $19.00 to $17.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. Benchmark decreased their price objective on shares of Sinclair from $30.00 to $29.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. StockNews.com lowered shares of Sinclair from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. Finally, Wells Fargo & Company cut 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 research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $19.10.

Sinclair 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.