Schonfeld Strategic Advisors LLC Has $4.06 Million Stock Position in Sinclair, Inc. (NASDAQ:SBGI)

Schonfeld Strategic Advisors LLC lessened its holdings in Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 32.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 approximately 0.38% of Sinclair worth $4,056,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SBGI. Kendall Capital Management acquired a new position in shares of Sinclair in the 4th quarter worth approximately $280,000. Vanguard Group Inc. grew its position in Sinclair by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 3,714,036 shares of the company's stock valued at $59,945,000 after acquiring an additional 64,683 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Sinclair during the fourth quarter worth $451,000. Rhumbline Advisers lifted its holdings in shares of Sinclair by 56.3% during the fourth quarter. Rhumbline Advisers now owns 86,072 shares of the company's stock valued at $1,389,000 after acquiring an additional 31,015 shares during the period. Finally, Gamco Investors INC. ET AL boosted its stake in shares of Sinclair by 1.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 3,704,282 shares of the company's stock valued at $59,787,000 after purchasing an additional 55,350 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company's stock.

Analyst Upgrades and Downgrades

SBGI has been the subject of several analyst reports. 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 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. StockNews.com lowered Sinclair from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, Guggenheim dropped 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 investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $19.10.

Sinclair Trading Up 1.2 %

SBGI stock traded up $0.18 during trading on Friday, hitting $15.12. The company had a trading volume of 142,122 shares, compared to its average volume of 361,669. The firm has a 50-day moving average price of $14.82 and a 200-day moving average price of $15.63. 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 stock has a market cap of $1.01 billion, a price-to-earnings ratio of -4.58 and a beta of 1.36.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($2.18) earnings per share (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 analyst estimates of $774.79 million. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The company's revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company earned $0.35 EPS. As a group, analysts predict that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.00 annualized dividend and a dividend yield of 6.61%. Sinclair's dividend payout ratio is currently 21.46%.

Insider Activity at Sinclair

In other news, Chairman David D. Smith acquired 125,197 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was acquired at an average price of $14.98 per share, for a total transaction of $1,875,451.06. Following the transaction, the chairman now directly owns 1,207,968 shares in the company, valued at approximately $18,095,360.64. This represents a 11.56 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders purchased 458,530 shares of company stock worth $6,636,392. 46.60% of the stock is owned by insiders.

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.