Kendall Capital Management Acquires Shares of 17,370 Sinclair, Inc. (NASDAQ:SBGI)

Kendall Capital Management bought a new position in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 17,370 shares of the company's stock, valued at approximately $280,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new position in Sinclair in the 3rd quarter valued at approximately $2,110,000. Segall Bryant & Hamill LLC purchased a new position in Sinclair in the 3rd quarter valued at approximately $1,605,000. Verition Fund Management LLC purchased a new position in Sinclair in the 3rd quarter valued at approximately $822,000. San Luis Wealth Advisors LLC purchased a new position in Sinclair in the 4th quarter valued at approximately $791,000. Finally, Barclays PLC increased its stake in Sinclair by 378.1% in the 3rd quarter. Barclays PLC now owns 54,229 shares of the company's stock valued at $831,000 after purchasing an additional 42,887 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company's stock.

Sinclair Trading Up 0.5 %

Shares of SBGI stock traded up $0.07 during mid-day trading on Thursday, hitting $14.39. 482,213 shares of the company's stock were exchanged, compared to its average volume of 265,859. Sinclair, Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $18.45. The stock has a 50-day simple moving average of $14.94 and a two-hundred day simple moving average of $15.66. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. The stock has a market cap of $956.49 million, a price-to-earnings ratio of -4.36 and a beta of 1.50.

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Sinclair (NASDAQ:SBGI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.62. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The business had revenue of $1 billion for the quarter, compared to analysts' expectations of $1.01 billion. Equities analysts expect that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.95%. The ex-dividend date of this dividend is Monday, March 10th. Sinclair's dividend payout ratio (DPR) is currently 21.46%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. StockNews.com downgraded Sinclair from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Wells Fargo & Company lowered their target price on Sinclair from $19.00 to $17.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th. Benchmark reiterated a "buy" rating and set a $30.00 target price on shares of Sinclair in a report on Tuesday, January 28th. Finally, Guggenheim lowered their target price on Sinclair from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Monday. One 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $19.30.

Insider Buying and Selling

In other news, Chairman David D. Smith bought 67,131 shares of the business's stock in a transaction that occurred on 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 transaction, the chairman now owns 818,869 shares of the company's stock, valued at $11,431,411.24. This represents a 8.93 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have bought 135,837 shares of company stock valued at $1,902,144. 46.60% of the stock is currently owned by company insiders.

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.