Sinclair, Inc. (NASDAQ:SBGI) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI) by 76.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,400 shares of the company’s stock after selling 54,671 shares during the quarter. Renaissance Technologies LLC’s holdings in Sinclair were worth $219,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its stake in Sinclair by 52.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 114,864 shares of the company’s stock worth $1,549,000 after purchasing an additional 39,624 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Sinclair during the 1st quarter worth approximately $1,359,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Sinclair by 92.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,706 shares of the company’s stock valued at $144,000 after buying an additional 5,147 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of Sinclair by 14.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 23,226 shares of the company’s stock valued at $313,000 after buying an additional 2,900 shares during the last quarter. Finally, Inspire Advisors LLC acquired a new stake in Sinclair during the 2nd quarter worth $1,552,000. 41.71% of the stock is owned by institutional investors and hedge funds.

Sinclair Trading Up 6.1 %

Shares of Sinclair stock opened at $17.68 on Friday. The company’s fifty day moving average is $14.14 and its two-hundred day moving average is $13.55. Sinclair, Inc. has a 1 year low of $9.69 and a 1 year high of $17.71. The company has a debt-to-equity ratio of 14.93, a quick ratio of 1.78 and a current ratio of 1.78. The company has a market capitalization of $1.17 billion, a P/E ratio of -2.48, a PEG ratio of 0.14 and a beta of 1.55.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.40. The firm had revenue of $829.00 million for the quarter, compared to analyst estimates of $836.65 million. Sinclair had a positive return on equity of 22.55% and a negative net margin of 10.78%. The business’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted ($1.09) earnings per share. Analysts forecast that Sinclair, Inc. will post 4.57 earnings per share for the current year.

Sinclair Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.66%. The ex-dividend date of this dividend was Friday, August 30th. Sinclair’s dividend payout ratio (DPR) is presently -14.04%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Rosenblatt Securities upped their price objective on shares of Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a research note on Friday, September 20th. Benchmark boosted their target price on Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Finally, StockNews.com upgraded Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $19.88.

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.