31,372 Shares in Sinclair, Inc. (NASDAQ:SBGI) Acquired by Corton Capital Inc.

Corton Capital Inc. acquired a new position in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 31,372 shares of the company's stock, valued at approximately $506,000. Sinclair comprises 0.3% of Corton Capital Inc.'s investment portfolio, making the stock its 17th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Sinclair by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 3,714,036 shares of the company's stock valued at $59,945,000 after acquiring an additional 64,683 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Sinclair by 1.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 3,704,282 shares of the company's stock worth $59,787,000 after purchasing an additional 55,350 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in Sinclair by 2.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 528,719 shares of the company's stock worth $8,534,000 after purchasing an additional 11,883 shares in the last quarter. Carronade Capital Management LP raised its stake in Sinclair by 418.1% during the fourth quarter. Carronade Capital Management LP now owns 440,419 shares of the company's stock valued at $7,108,000 after buying an additional 355,419 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Sinclair by 10.1% during the 4th quarter. Northern Trust Corp now owns 374,783 shares of the company's stock worth $6,049,000 after buying an additional 34,423 shares during the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Guggenheim dropped their price target on Sinclair from $19.00 to $17.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. Benchmark decreased their price target on shares of Sinclair from $30.00 to $29.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company cut 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. Finally, StockNews.com cut Sinclair from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $19.10.

Sinclair Price Performance

Shares of NASDAQ:SBGI traded up $0.31 during trading on Friday, reaching $15.25. The company had a trading volume of 427,359 shares, compared to its average volume of 355,608. Sinclair, Inc. has a twelve month low of $11.13 and a twelve month high of $18.46. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. The firm has a market capitalization of $1.01 billion, a PE ratio of -4.62 and a beta of 1.36. The firm's fifty day moving average is $14.86 and its 200 day moving average is $15.61.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($2.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.78) by ($0.40). The firm had revenue of $776.00 million for the quarter, compared to the consensus estimate of $774.79 million. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 earnings per share. On average, equities analysts forecast that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, May 30th. This represents a $1.00 annualized dividend and a dividend yield of 6.56%. Sinclair's dividend payout ratio (DPR) is 49.75%.

Insider Transactions at Sinclair

In other Sinclair news, Chairman David D. Smith purchased 30,296 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $14.09 per share, for a total transaction of $426,870.64. Following the completion of the transaction, the chairman now owns 728,986 shares in the company, valued at $10,271,412.74. This represents a 4.34 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired 458,530 shares of company stock valued at $6,636,392 in the last quarter. Insiders own 41.90% of the company's stock.

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.