Sinclair, Inc. $SBGI Shares Bought by Capital Management Corp VA

Capital Management Corp VA lifted its position in Sinclair, Inc. (NASDAQ:SBGI) by 6.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,655,050 shares of the company’s stock after buying an additional 97,226 shares during the period. Sinclair comprises 3.9% of Capital Management Corp VA’s holdings, making the stock its 5th largest position. Capital Management Corp VA owned 2.38% of Sinclair worth $24,991,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its position in Sinclair by 142.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock valued at $25,000 after acquiring an additional 1,065 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Sinclair by 175.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock valued at $41,000 after purchasing an additional 1,882 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Sinclair during the second quarter worth about $54,000. Ameritas Investment Partners Inc. grew its holdings in shares of Sinclair by 26.2% during the second quarter. Ameritas Investment Partners Inc. now owns 3,945 shares of the company’s stock worth $55,000 after buying an additional 820 shares in the last quarter. Finally, Headlands Technologies LLC raised its position in Sinclair by 79.3% in the 2nd quarter. Headlands Technologies LLC now owns 6,773 shares of the company’s stock valued at $94,000 after buying an additional 2,996 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sinclair

In other news, EVP David B. Gibber sold 29,376 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $16.67, for a total value of $489,697.92. Following the transaction, the executive vice president owned 165,272 shares of the company’s stock, valued at approximately $2,755,084.24. This represents a 15.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Howard E. Friedman sold 14,713 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $15.11, for a total value of $222,313.43. Following the transaction, the director owned 77,685 shares in the company, valued at approximately $1,173,820.35. This trade represents a 15.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 50,637 shares of company stock valued at $815,535 in the last three months. 41.90% of the stock is currently owned by company insiders.

Sinclair Stock Up 1.5%

SBGI stock opened at $14.51 on Friday. Sinclair, Inc. has a 1-year low of $11.89 and a 1-year high of $17.88. The business’s 50 day simple moving average is $15.31 and its 200 day simple moving average is $14.65. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 14.77. The firm has a market capitalization of $1.01 billion, a PE ratio of -23.40 and a beta of 0.96.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.63. Sinclair had a negative net margin of 1.35% and a negative return on equity of 10.19%. The firm had revenue of $773.00 million during the quarter, compared to analysts’ expectations of $766.78 million. During the same period in the previous year, the business posted $1.43 earnings per share. The company’s revenue for the quarter was down 15.7% compared to the same quarter last year. As a group, research analysts anticipate that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a $0.25 dividend. The ex-dividend date was Monday, December 1st. This represents a $1.00 dividend on an annualized basis and a yield of 6.9%. Sinclair’s dividend payout ratio is -161.29%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SBGI. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sinclair in a research note on Monday, December 29th. Zacks Research upgraded shares of Sinclair from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Wall Street Zen raised shares of Sinclair from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Guggenheim boosted their price target on shares of Sinclair from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sinclair has a consensus rating of “Hold” and an average target price of $19.00.

Sinclair Profile

Sinclair Broadcast Group, Inc (NASDAQ: SBGI) is a media and entertainment company headquartered in Hunt Valley, Maryland. Founded in 1971 as a single UHF television station operator, Sinclair has grown through strategic acquisitions and organic expansion to become one of the largest owners of local television stations in the United States. Over its history, the company has pursued a diversified portfolio that includes both traditional broadcast assets and newer digital platforms.

At its core, Sinclair operates over 190 television stations affiliated with the major national broadcast networks, including ABC, CBS, NBC, Fox, The CW and MyNetworkTV.