Quantbot Technologies LP Sells 17,840 Shares of Sinclair, Inc. (NASDAQ:SBGI)

Quantbot Technologies LP cut its holdings in Sinclair, Inc. (NASDAQ:SBGI) by 67.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,525 shares of the company’s stock after selling 17,840 shares during the period. Quantbot Technologies LP’s holdings in Sinclair were worth $138,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in 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 period. Point72 DIFC Ltd purchased a new stake in Sinclair in the third quarter worth about $91,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Sinclair in the third quarter worth about $121,000. New York State Common Retirement Fund lifted its position in shares of Sinclair by 29.4% during the 4th 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 in the last quarter. Finally, Aigen Investment Management LP bought a new position in shares of Sinclair during the 4th quarter valued at approximately $262,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Insider Buying and Selling

In related news, Chairman David D. Smith bought 67,131 shares of Sinclair stock in a transaction dated Monday, March 10th. The shares were acquired at an average cost of $13.96 per share, with a total value of $937,148.76. Following the completion of the transaction, the chairman now owns 818,869 shares in the company, valued at $11,431,411.24. The trade was a 8.93 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought 262,541 shares of company stock valued at $3,844,778 in the last ninety days. 46.60% of the stock is owned by company insiders.

Sinclair Stock Down 0.3 %

SBGI opened at $15.63 on Monday. The company has a market capitalization of $1.04 billion, a PE ratio of -4.74 and a beta of 1.50. The firm has a 50-day simple moving average of $14.92 and a two-hundred day simple moving average of $15.88. 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 52 week low of $11.13 and a 52 week high of $18.46.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.62. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. Analysts forecast that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.40%. The ex-dividend date was Monday, March 10th. Sinclair’s dividend payout ratio is currently 21.46%.

Analysts Set New Price Targets

SBGI has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their target price on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Benchmark restated a “buy” rating and set a $30.00 price objective on shares of Sinclair in a research report on Tuesday, January 28th. StockNews.com downgraded shares of Sinclair from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Guggenheim lowered their price objective on Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. One investment 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.30.

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.