Sinclair, Inc. $SBGI is Capital Management Corp VA’s 7th Largest Position

Capital Management Corp VA trimmed its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI) by 5.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,557,824 shares of the company’s stock after selling 84,025 shares during the quarter. Sinclair makes up 3.7% of Capital Management Corp VA’s holdings, making the stock its 7th biggest holding. Capital Management Corp VA’s holdings in Sinclair were worth $21,529,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in Sinclair by 65.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 717,007 shares of the company’s stock worth $11,422,000 after acquiring an additional 282,400 shares in the last quarter. Kennondale Capital Management LLC bought a new stake in shares of Sinclair in the 1st quarter valued at approximately $1,718,000. Algert Global LLC purchased a new position in shares of Sinclair in the 1st quarter worth approximately $1,608,000. Nuveen LLC bought a new position in shares of Sinclair during the 1st quarter valued at approximately $1,539,000. Finally, Cinctive Capital Management LP purchased a new stake in Sinclair during the 1st quarter valued at $1,058,000. Institutional investors own 41.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Zacks Research upgraded Sinclair to a “hold” rating in a research report on Thursday, August 21st. Benchmark lowered their target price on shares of Sinclair from $29.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Guggenheim dropped their price target on shares of Sinclair from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, August 14th. Wells Fargo & Company reduced their price objective on shares of Sinclair from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 7th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Sinclair in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.75.

Sinclair Stock Down 0.6%

Shares of SBGI opened at $13.12 on Wednesday. The firm has a fifty day moving average price of $14.06 and a 200-day moving average price of $14.26. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 13.93. The firm has a market capitalization of $913.77 million, a P/E ratio of 15.81 and a beta of 1.31. Sinclair, Inc. has a 12-month low of $11.89 and a 12-month high of $18.45.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.19). The company had revenue of $784.00 million during the quarter, compared to analysts’ expectations of $798.16 million. Sinclair had a return on equity of 12.51% and a net margin of 1.44%.The company’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.27 EPS. Equities research analysts expect that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a $0.25 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.6%. Sinclair’s payout ratio is presently 120.48%.

Sinclair 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.