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

Capital Management Corp VA cut its holdings in Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 3.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,666,428 shares of the company's stock after selling 66,282 shares during the period. Sinclair comprises about 4.8% of Capital Management Corp VA's holdings, making the stock its 3rd largest position. Capital Management Corp VA owned about 2.51% of Sinclair worth $26,896,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Aigen Investment Management LP purchased a new stake in shares of Sinclair during the fourth quarter worth about $262,000. Bailard Inc. purchased a new stake in Sinclair in the fourth quarter valued at approximately $279,000. New York State Common Retirement Fund grew its position in Sinclair by 29.4% during the fourth 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 period. Rhumbline Advisers lifted its position in Sinclair by 56.3% during the fourth quarter. Rhumbline Advisers now owns 86,072 shares of the company's stock valued at $1,389,000 after buying an additional 31,015 shares in the last quarter. Finally, Empowered Funds LLC raised its position in Sinclair by 5.1% in the fourth quarter. Empowered Funds LLC now owns 243,973 shares of the company's stock valued at $3,938,000 after purchasing an additional 11,883 shares during the period. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. 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 lowered shares of Sinclair from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. increased their price objective on Sinclair from $14.00 to $16.00 and gave the stock an "underweight" rating in a report on Tuesday, November 12th. Guggenheim lowered their price target on Sinclair from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Monday. Finally, Benchmark reaffirmed a "buy" rating and issued a $30.00 price objective on shares of Sinclair in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $19.30.

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Insider Activity

In other Sinclair news, Chairman David D. Smith bought 67,131 shares of the firm's stock in a transaction on Monday, March 10th. The stock was bought at an average cost of $13.96 per share, with a total value of $937,148.76. Following the completion of the transaction, the chairman now directly owns 818,869 shares of the company's stock, valued at approximately $11,431,411.24. The trade was a 8.93 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 135,837 shares of company stock worth $1,902,144 over the last quarter. Corporate insiders own 46.60% of the company's stock.

Sinclair Price Performance

NASDAQ:SBGI traded down $0.01 during mid-day trading on Wednesday, reaching $14.32. 515,881 shares of the stock were exchanged, compared to its average volume of 261,257. 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. The firm has a market capitalization of $951.84 million, a PE ratio of -4.34 and a beta of 1.50. The business has a fifty day moving average price of $14.97 and a 200 day moving average price of $15.67.

Sinclair (NASDAQ:SBGI - Get Free Report) last announced 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 negative net margin of 6.14% and a positive return on equity of 63.89%. The company had revenue of $1 billion for the quarter, compared to analysts' expectations of $1.01 billion. Research analysts expect that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders 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 6.98%. The ex-dividend date of this dividend is Monday, March 10th. Sinclair's dividend payout ratio (DPR) 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.