Capital Management Corp VA Sells 25,814 Shares of Sinclair, Inc. (NASDAQ:SBGI)

Capital Management Corp VA decreased its stake in shares of Sinclair, Inc. (NASDAQ:SBGI) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,732,710 shares of the company’s stock after selling 25,814 shares during the quarter. Sinclair comprises about 4.7% of Capital Management Corp VA’s portfolio, making the stock its 3rd biggest holding. Capital Management Corp VA owned about 2.61% of Sinclair worth $26,510,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SBGI. Allspring Global Investments Holdings LLC boosted its stake in Sinclair by 92.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,706 shares of the company’s stock valued at $144,000 after purchasing an additional 5,147 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Sinclair by 32.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 45,379 shares of the company’s stock worth $611,000 after buying an additional 11,082 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Sinclair during the 1st quarter worth $49,000. Central Pacific Bank Trust Division acquired a new position in shares of Sinclair during the 1st quarter worth $76,000. Finally, Empowered Funds LLC raised its holdings in shares of Sinclair by 8.1% during the 1st quarter. Empowered Funds LLC now owns 204,458 shares of the company’s stock worth $2,754,000 after buying an additional 15,400 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Sinclair Price Performance

Shares of SBGI opened at $16.94 on Tuesday. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 14.93. The stock has a 50 day moving average of $15.38 and a 200 day moving average of $14.07. Sinclair, Inc. has a 12 month low of $11.13 and a 12 month high of $17.98.

Sinclair (NASDAQ:SBGI) last released its earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.40. The business had revenue of $829.00 million during the quarter, compared to the consensus estimate of $836.65 million. Sinclair had a positive return on equity of 22.55% and a negative net margin of 10.78%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the business posted ($1.09) earnings per share. As a group, analysts expect that Sinclair, Inc. will post 4.57 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.90%. The ex-dividend date was Friday, August 30th. Sinclair’s dividend payout ratio (DPR) is currently -18.28%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Benchmark upped their target price on Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Rosenblatt Securities increased their price target on Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a research note on Friday, September 20th. Finally, StockNews.com raised Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th.

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.