Schonfeld Strategic Advisors LLC Lowers Stock Position in Sinclair, Inc. (NASDAQ:SBGI)

Schonfeld Strategic Advisors LLC decreased its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 32.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 251,300 shares of the company's stock after selling 119,930 shares during the period. Schonfeld Strategic Advisors LLC owned 0.38% of Sinclair worth $4,056,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SBGI. GAMMA Investing LLC increased its position in Sinclair by 26.9% during the 4th 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. New York State Common Retirement Fund grew its stake in shares of Sinclair by 29.4% in the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company's stock worth $121,000 after acquiring an additional 1,700 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Sinclair by 5.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,500 shares of the company's stock valued at $590,000 after acquiring an additional 2,035 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Sinclair by 8.5% in the 4th quarter. Wells Fargo & Company MN now owns 33,548 shares of the company's stock worth $541,000 after purchasing an additional 2,620 shares during the last quarter. Finally, Federated Hermes Inc. bought a new position in Sinclair in the 4th quarter worth about $47,000. Institutional investors own 41.71% of the company's stock.

Insider Transactions at Sinclair

In other Sinclair news, Chairman David D. Smith purchased 30,296 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price 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. The trade was a 4.34 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 458,530 shares of company stock worth $6,636,392 in the last quarter. Company insiders own 46.60% of the company's stock.

Wall Street Analysts Forecast Growth

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

Sinclair Stock Performance

SBGI stock traded up $0.14 on Wednesday, hitting $15.68. The company had a trading volume of 525,214 shares, compared to its average volume of 360,682. The company has a current ratio of 1.91, a quick 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 $1.04 billion, a price-to-earnings ratio of -4.75 and a beta of 1.36. The stock's 50-day simple moving average is $14.78 and its 200 day simple moving average is $15.64.

Sinclair (NASDAQ:SBGI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($2.18) earnings per share (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%. As a group, equities research analysts expect that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The firm 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 $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.38%. 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.