107,872 Shares in Sinclair, Inc. (NASDAQ:SBGI) Purchased by Kennondale Capital Management LLC

Kennondale Capital Management LLC purchased a new position in Sinclair, Inc. (NASDAQ:SBGI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 107,872 shares of the company's stock, valued at approximately $1,718,000. Sinclair comprises 1.9% of Kennondale Capital Management LLC's investment portfolio, making the stock its 19th biggest position. Kennondale Capital Management LLC owned 0.16% of Sinclair as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of SBGI. Federated Hermes Inc. bought a new stake in Sinclair during the fourth quarter valued at about $47,000. DekaBank Deutsche Girozentrale bought a new stake in Sinclair during the first quarter valued at about $58,000. NBC Securities Inc. boosted its stake in shares of Sinclair by 105,075.0% in the first quarter. NBC Securities Inc. now owns 4,207 shares of the company's stock worth $67,000 after acquiring an additional 4,203 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of Sinclair by 71.5% in the first quarter. Harbor Capital Advisors Inc. now owns 4,937 shares of the company's stock worth $79,000 after acquiring an additional 2,058 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Sinclair in the fourth quarter worth about $123,000. Institutional investors own 41.71% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Sinclair from $14.00 to $13.00 and set an "underweight" rating for the company in a research note on Wednesday, May 21st. Guggenheim reaffirmed a "buy" rating on shares of Sinclair in a research note on Thursday, May 15th. Benchmark dropped their price objective on Sinclair from $30.00 to $29.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Finally, Wall Street Zen lowered Sinclair from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $18.50.

Sinclair Stock Down 1.4%

NASDAQ SBGI traded down $0.21 during midday trading on Friday, hitting $14.78. 122,282 shares of the company traded hands, compared to its average volume of 384,952. The company has a debt-to-equity ratio of 11.32, a current ratio of 2.08 and a quick ratio of 2.08. The company has a market cap of $1.03 billion, a PE ratio of 7.35 and a beta of 1.30. The company's 50-day simple moving average is $14.14 and its 200-day simple moving average is $14.64. Sinclair, Inc. has a 52 week low of $12.06 and a 52 week high of $18.45.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($2.18) EPS for the quarter, missing the consensus estimate of ($1.78) by ($0.40). Sinclair had a net margin of 3.72% and a return on equity of 34.15%. The business had revenue of $776.00 million for the quarter, compared to analysts' expectations of $774.79 million. During the same quarter in the prior year, the company posted $0.35 EPS. The business's revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities research analysts forecast that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.00 dividend on an annualized basis and a yield of 6.77%. Sinclair's dividend payout ratio (DPR) is 49.75%.

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.