EntryPoint Capital LLC Has $272,000 Stake in Sinclair, Inc. $SBGI

EntryPoint Capital LLC boosted its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI) by 41.7% in the first quarter, HoldingsChannel reports. The firm owned 17,059 shares of the company’s stock after acquiring an additional 5,020 shares during the period. EntryPoint Capital LLC’s holdings in Sinclair were worth $272,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SBGI. Carronade Capital Management LP increased its holdings in Sinclair by 418.1% during the 4th quarter. Carronade Capital Management LP now owns 440,419 shares of the company’s stock valued at $7,108,000 after purchasing an additional 355,419 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Sinclair by 65.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 717,007 shares of the company’s stock valued at $11,422,000 after purchasing an additional 282,400 shares in the last quarter. Kennondale Capital Management LLC acquired a new stake in Sinclair during the 1st quarter valued at $1,718,000. Algert Global LLC bought a new position in Sinclair in the 1st quarter valued at $1,608,000. Finally, Nuveen LLC bought a new position in Sinclair in the 1st quarter valued at $1,539,000. 41.71% of the stock is owned by institutional investors and hedge funds.

Sinclair Stock Up 3.1%

Shares of Sinclair stock opened at $14.36 on Friday. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 13.93. Sinclair, Inc. has a 12 month low of $11.89 and a 12 month high of $18.45. The business has a fifty day simple moving average of $14.21 and a 200 day simple moving average of $14.47. The stock has a market cap of $1.00 billion, a PE ratio of 17.30 and a beta of 1.28.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.19). Sinclair had a return on equity of 12.51% and a net margin of 1.44%.The company had revenue of $784.00 million for the quarter, compared to analyst estimates of $798.16 million. During the same period last year, the firm earned $0.27 earnings per share. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. Research analysts predict that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, August 29th. This represents a $1.00 annualized dividend and a yield of 7.0%. Sinclair’s payout ratio is currently 120.48%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Guggenheim decreased their price objective on Sinclair from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, August 14th. Wells Fargo & Company decreased their price objective on Sinclair from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 7th. Wall Street Zen lowered Sinclair from a “hold” rating to a “sell” rating in a research report on Monday, May 12th. Benchmark decreased their price objective on Sinclair from $29.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. decreased their price objective on Sinclair from $14.00 to $13.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $18.30.

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.