Capital Management Corp VA Has $26.90 Million Stock Position in Sinclair, Inc. (NASDAQ:SBGI)

Capital Management Corp VA lowered its position in shares of Sinclair, Inc. (NASDAQ:SBGI) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,666,428 shares of the company’s stock after selling 66,282 shares during the period. Sinclair accounts for approximately 4.8% of Capital Management Corp VA’s investment portfolio, making the stock its 3rd biggest holding. Capital Management Corp VA’s holdings in Sinclair were worth $26,896,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings 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 in the last quarter. New York State Common Retirement Fund increased 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 worth $121,000 after acquiring an additional 1,700 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in Sinclair in the 3rd quarter worth about $39,000. HighTower Advisors LLC boosted its holdings in Sinclair by 15.4% in the 3rd quarter. HighTower Advisors LLC now owns 28,463 shares of the company’s stock valued at $433,000 after purchasing an additional 3,801 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in Sinclair in the 3rd quarter valued at about $91,000. 41.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Sinclair

In other news, Chairman David D. Smith purchased 38,410 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $14.01 per share, for a total transaction of $538,124.10. Following the purchase, the chairman now owns 645,564 shares of the company’s stock, valued at approximately $9,044,351.64. The trade was a 6.33 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 46.60% of the company’s stock.

Sinclair Trading Down 1.5 %

Shares of SBGI opened at $14.40 on Friday. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. Sinclair, Inc. has a 52-week low of $11.13 and a 52-week high of $18.45. The firm has a market cap of $956.46 million, a price-to-earnings ratio of -4.36 and a beta of 1.50. The business’s fifty day moving average is $15.04 and its 200-day moving average is $15.62.

Sinclair (NASDAQ:SBGI) last issued its earnings results on Wednesday, February 26th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $1.99 by $0.62. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. Equities analysts anticipate that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently commented on SBGI shares. Wells Fargo & Company lowered their target price on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. Guggenheim raised their price objective on Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Benchmark reiterated a “buy” rating and set a $30.00 target price on shares of Sinclair in a research report on Tuesday, January 28th. StockNews.com cut Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $19.70.

Sinclair Company Profile

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.