Sinclair, Inc. $SBGI Shares Bought by Squarepoint Ops LLC

Squarepoint Ops LLC raised its stake in Sinclair, Inc. (NASDAQ:SBGI) by 109.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 131,784 shares of the company’s stock after acquiring an additional 68,857 shares during the period. Squarepoint Ops LLC’s holdings in Sinclair were worth $1,821,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of SBGI. Geneos Wealth Management Inc. lifted its holdings in shares of Sinclair by 142.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock worth $25,000 after purchasing an additional 1,065 shares during the period. Tower Research Capital LLC TRC increased its stake in Sinclair by 175.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock valued at $41,000 after buying an additional 1,882 shares during the period. Raymond James Financial Inc. purchased a new position in Sinclair during the 2nd quarter worth $54,000. Ameritas Investment Partners Inc. lifted its stake in shares of Sinclair by 26.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,945 shares of the company’s stock worth $55,000 after acquiring an additional 820 shares during the period. Finally, Headlands Technologies LLC boosted its holdings in shares of Sinclair by 79.3% in the second quarter. Headlands Technologies LLC now owns 6,773 shares of the company’s stock valued at $94,000 after acquiring an additional 2,996 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Sinclair Trading Up 1.8%

Shares of Sinclair stock opened at $16.07 on Friday. Sinclair, Inc. has a 12-month low of $11.89 and a 12-month high of $17.88. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 14.77. The stock has a market cap of $1.12 billion, a PE ratio of -25.92 and a beta of 0.99. The company has a 50-day moving average of $14.88 and a two-hundred day moving average of $14.39.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.65) by $0.63. The business had revenue of $773.00 million for the quarter, compared to analyst estimates of $766.78 million. Sinclair had a negative return on equity of 10.19% and a negative net margin of 1.35%.The company’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.43 EPS. On average, research analysts anticipate that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.00 annualized dividend and a yield of 6.2%. Sinclair’s dividend payout ratio is -161.29%.

Insider Buying and Selling at Sinclair

In other news, EVP David B. Gibber sold 29,376 shares of Sinclair stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $16.67, for a total transaction of $489,697.92. Following the completion of the transaction, the executive vice president owned 165,272 shares of the company’s stock, valued at $2,755,084.24. The trade was a 15.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 41.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SBGI has been the topic of a number of recent analyst reports. Zacks Research raised shares of Sinclair from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Guggenheim boosted their target price on Sinclair from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Sinclair in a research note on Monday. Finally, Wall Street Zen upgraded Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $19.00.

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.