Contrarius Exits Sinclair (SBGI) Position, Now Holds 0 Shares
Ticker: SBGI · Form: SC 13G/A · Filed: Feb 12, 2024 · CIK: 1971213
Complexity: simple
Sentiment: bearish
Topics: institutional-ownership, divestment, amendment, ownership-change
TL;DR
**Contrarius sold all their Sinclair stock, now owns zero shares.**
AI Summary
Contrarius Investment Management Limited, a Jersey-based investment firm, filed an amended SC 13G/A on February 12, 2024, indicating they no longer beneficially own any Class A Common Stock of Sinclair, Inc. As of December 31, 2023, Contrarius reported 0 shares with both sole and shared voting and dispositive power, down from a previous holding. This matters to investors because a significant institutional investor has completely exited their position in Sinclair, potentially signaling a lack of confidence in the company's future prospects.
Why It Matters
This filing shows a major institutional investor has completely sold off their stake in Sinclair, which could be interpreted as a bearish signal for the stock.
Risk Assessment
Risk Level: medium — The complete divestment by an institutional investor could indicate underlying concerns about Sinclair's performance or outlook, posing a medium risk to current shareholders.
Analyst Insight
An investor might consider this a signal to research why Contrarius exited their position, potentially re-evaluating their own investment in Sinclair, Inc. or looking for other bearish indicators.
Key Numbers
- 0 — Shares Beneficially Owned (Contrarius Investment Management Limited's aggregate beneficial ownership of Sinclair Class A Common Stock as of December 31, 2023.)
Key Players & Entities
- Contrarius Investment Management Limited (company) — the reporting person that filed the SC 13G/A
- Sinclair, Inc. (company) — the issuer of the Class A Common Stock
- Jersey, Channel Islands (company) — place of organization for Contrarius Investment Management Limited
- December 31, 2023 (date) — date of event requiring the filing
- 0 (dollar_amount) — aggregate amount of shares beneficially owned by Contrarius
Forward-Looking Statements
- Other institutional investors may re-evaluate their positions in Sinclair, Inc. following Contrarius's complete divestment. (Sinclair, Inc.) — medium confidence, target: Q1 2024
FAQ
Who filed this SC 13G/A amendment?
Contrarius Investment Management Limited filed this SC 13G/A amendment regarding Sinclair, Inc. Class A Common Stock.
What is the CUSIP number for the securities mentioned in this filing?
The CUSIP number for the Class A Common Stock of Sinclair, Inc. is 829242106.
What was the date of the event that required this filing?
The date of the event which required the filing of this statement was December 31, 2023.
How many shares of Sinclair, Inc. Class A Common Stock does Contrarius Investment Management Limited now beneficially own?
As of December 31, 2023, Contrarius Investment Management Limited beneficially owns 0 shares of Sinclair, Inc. Class A Common Stock, with 0 sole voting power, 0 shared voting power, 0 sole dispositive power, and 0 shared dispositive power.
What type of company is Sinclair, Inc. according to its Standard Industrial Classification?
Sinclair, Inc. is classified under Television Broadcasting Stations [4833].
Filing Stats: 1,197 words · 5 min read · ~4 pages · Grade level 9.2 · Accepted 2024-02-12 13:10:02
Filing Documents
- sinclr-sc13ga_021224.htm (SC 13G/A) — 73KB
- 0001999371-24-001856.txt ( ) — 74KB
From the Filing
SC 13G/A 1 sinclr-sc13ga_021224.htm AMENDMENT TO FORM SC 13G UNITED SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No.3) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO §240.13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO §240.13d-2. SINCLAIR, INC. (Name of Issuer) CLASS A COMMON STOCK (Title of Class of Securities) 829242106 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (as amended, the “Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 829242106 13G Page 2 of 7 pages 1 NAMES OF REPORTING PERSONS CONTRARIUS INVESTMENT MANAGEMENT LIMITED 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) (b) 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Jersey, Channel Islands NUMBERS OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER 0 6 SHARED VOTING POWER 0 7 SOLE DISPOSITIVE POWER 0 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.0% 12 TYPE OF REPORTING PERSON (See Instructions) FI - 1 - CUSIP No. 829242106 13G Page 3 of 7 pages 1 NAMES OF REPORTING PERSONS CONTRARIUS INVESTMENT MANAGEMENT (BERMUDA) LIMITED 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (see instructions) (a) (b) 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Bermuda NUMBERS OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER 0 6 SHARED VOTING POWER 0 7 SOLE DISPOSITIVE POWER 0 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.0% 12 TYPE OF REPORTING PERSON (See Instructions) FI - 2 - SCHEDULE 13G Item 1(a). Name of Issuer: Sinclair, Inc. Item 1(b). Address of Issuer’s Principal Executive Offices: 10706 Beaver Dam Road, Hunt Valley, Maryland 21030 Item 2(a). Name of Person Filing: Contrarius Investment Management Limited Contrarius Investment Management (Bermuda) Limited Item 2(b). Address of Principal Business Office or, if None, Residence: Contrarius Investment Management Limited - 2 Bond Street, St. Helier, Jersey JE2 3NP, Channel Islands Contrarius Investment Management (Bermuda) Limited – Waterloo House, 100 Pitts Bay Road, Pembroke HM 08 Bermuda Item 2(c). Citizenship: Contrarius Investment Management Limited is a company organized under the laws of Jersey, Channel Islands. Contrarius Investment Management (Bermuda) Limited is a company organized under the laws of Bermuda. Item 2(d). Title of Class of Securities: Class A Common Stock Item 2(e). CUSIP Number: 829242106 Item 3. If this statement is filed pursuant to §§240.13d-1(b), or 240.13d-2(b) or (c), check whether the person filing is a: (a) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). - 3 - (e) An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E). (f) An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F). (g) A parent holding company or control person in accordance with § 240.13d– 1(b)(1)(ii)(G). (h) A savings association as defined in Section 3 (b) of the Federal Deposit Insurance Act (12 U.S. C. 1813). (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S. C. 80a-3). (j) A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J). (k) Group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution: Equivalent to IA. Item 4. Ownership. Provide the following information regarding the aggregate number and percentage