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Capital Management Corp VA Sells 24,579 Shares of Sinclair, Inc. (NASDAQ:SBGI)

Sinclair logo with Consumer Discretionary background

Capital Management Corp VA reduced its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,641,849 shares of the company's stock after selling 24,579 shares during the quarter. Sinclair accounts for 4.5% of Capital Management Corp VA's portfolio, making the stock its 4th largest position. Capital Management Corp VA owned about 2.47% of Sinclair worth $26,155,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SBGI. Federated Hermes Inc. purchased a new position in shares of Sinclair in the fourth quarter valued at $47,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Sinclair in the first quarter valued at $58,000. NBC Securities Inc. boosted its stake in Sinclair by 105,075.0% during the 1st quarter. NBC Securities Inc. now owns 4,207 shares of the company's stock valued at $67,000 after acquiring an additional 4,203 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Sinclair by 71.5% during the first quarter. Harbor Capital Advisors Inc. now owns 4,937 shares of the company's stock worth $79,000 after purchasing an additional 2,058 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Sinclair in the 4th quarter worth about $123,000. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Sinclair Stock Performance

Sinclair stock traded down $0.25 on Monday, hitting $14.47. The company's stock had a trading volume of 84,396 shares, compared to its average volume of 383,872. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 11.32. The firm has a market cap of $1.01 billion, a P/E ratio of 7.20 and a beta of 1.30. The company has a fifty day moving average price of $14.20 and a 200-day moving average price of $14.66. Sinclair, Inc. has a one year low of $12.06 and a one year high of $18.45.

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

Sinclair Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.91%. The ex-dividend date was Friday, May 30th. Sinclair's payout ratio is 49.75%.

Analyst Ratings Changes

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

View Our Latest Report on Sinclair

About Sinclair

(Free Report)

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.

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Institutional Ownership by Quarter for Sinclair (NASDAQ:SBGI)

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