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

Capital Management Corp VA decreased 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 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,641,849 shares of the company's stock after selling 24,579 shares during the quarter. Sinclair comprises approximately 4.5% of Capital Management Corp VA's investment portfolio, making the stock its 4th biggest holding. Capital Management Corp VA owned about 2.47% of Sinclair worth $26,155,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. HighTower Advisors LLC grew its holdings in Sinclair by 19.6% during the fourth quarter. HighTower Advisors LLC now owns 34,050 shares of the company's stock valued at $550,000 after purchasing an additional 5,587 shares during the period. American Century Companies Inc. grew its holdings in Sinclair by 15.9% during the fourth quarter. American Century Companies Inc. now owns 73,008 shares of the company's stock valued at $1,178,000 after purchasing an additional 10,018 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Sinclair during the fourth quarter valued at approximately $123,000. LPL Financial LLC grew its holdings in Sinclair by 10.8% during the fourth quarter. LPL Financial LLC now owns 95,260 shares of the company's stock valued at $1,538,000 after purchasing an additional 9,295 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Sinclair by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 3,714,036 shares of the company's stock valued at $59,945,000 after purchasing an additional 64,683 shares during the period. Institutional investors and hedge funds own 41.71% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SBGI. JPMorgan Chase & Co. lowered their price objective on shares of Sinclair from $14.00 to $13.00 and set an "underweight" rating for the company in a research report on Wednesday, May 21st. Guggenheim restated a "buy" rating on shares of Sinclair in a report on Thursday, May 15th. Wall Street Zen cut shares of Sinclair from a "hold" rating to a "sell" rating in a report on Monday, May 12th. Finally, Benchmark reduced their target price 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. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $18.50.

Sinclair Stock Performance

NASDAQ:SBGI traded down $0.10 during mid-day trading on Friday, reaching $14.96. 33,817 shares of the company's stock were exchanged, compared to its average volume of 364,736. Sinclair, Inc. has a one year low of $12.07 and a one year high of $18.46. The firm has a market capitalization of $1.04 billion, a PE ratio of 7.37 and a beta of 1.30. The business's fifty day simple moving average is $14.21 and its two-hundred day simple moving average is $14.70. The company has a debt-to-equity ratio of 11.32, a quick ratio of 2.08 and a current ratio of 2.08.

Sinclair (NASDAQ:SBGI - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $774.79 million. Sinclair had a return on equity of 34.15% and a net margin of 3.72%. The company's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.35 earnings per share. Analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a dividend of $0.25 per share. The ex-dividend date was Friday, May 30th. This represents a $1.00 annualized dividend and a yield of 6.68%. Sinclair's dividend payout ratio is presently 49.75%.

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.

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