Sinclair, Inc. (NASDAQ:SBGI) Shares Sold by Capital Management Corp VA

Capital Management Corp VA trimmed its stake in shares of Sinclair, Inc. (NASDAQ:SBGI) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,666,428 shares of the company’s stock after selling 66,282 shares during the period. Sinclair makes up about 4.8% of Capital Management Corp VA’s investment portfolio, making the stock its 3rd biggest position. Capital Management Corp VA owned approximately 2.51% of Sinclair worth $26,896,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of SBGI. GAMMA Investing LLC raised its stake in shares of Sinclair by 26.9% during the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock worth $47,000 after buying an additional 613 shares during the last quarter. New York State Common Retirement Fund raised 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 acquiring an additional 1,700 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Sinclair during the 3rd quarter valued at $39,000. HighTower Advisors LLC boosted its position in shares of Sinclair by 15.4% in the 3rd quarter. HighTower Advisors LLC now owns 28,463 shares of the company’s stock worth $433,000 after purchasing an additional 3,801 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Sinclair during the third quarter worth $91,000. 41.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman David D. Smith acquired 30,296 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were bought at an average price of $14.09 per share, for a total transaction of $426,870.64. Following the purchase, the chairman now directly owns 728,986 shares in the company, valued at approximately $10,271,412.74. This trade represents a 4.34 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 46.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on SBGI shares. Benchmark reissued a “buy” rating and issued a $30.00 target price on shares of Sinclair in a research note on Tuesday, January 28th. Wells Fargo & Company reduced their price objective 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. StockNews.com downgraded shares of Sinclair from a “buy” rating to a “hold” rating in a research note on Thursday. Guggenheim boosted their price target on shares of Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. raised their price objective on Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $19.70.

Sinclair Price Performance

SBGI stock opened at $14.40 on Friday. The stock has a market cap of $956.46 million, a PE ratio of -4.36 and a beta of 1.50. The stock has a 50-day moving average price of $15.04 and a two-hundred day moving average price of $15.62. Sinclair, Inc. has a 1 year low of $11.13 and a 1 year high of $18.45. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73.

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

Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid a $0.25 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.00 annualized dividend and a yield of 6.94%. Sinclair’s payout ratio is currently 21.46%.

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.