Capital Management Corp VA Has $24.99 Million Stock Holdings in Sinclair, Inc. $SBGI

Capital Management Corp VA grew its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI) by 6.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,655,050 shares of the company’s stock after purchasing 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 holding. Capital Management Corp VA’s holdings in Sinclair were worth $24,991,000 as of its most recent SEC filing.

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

Sinclair Stock Up 1.5%

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

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.65) by $0.63. The firm had revenue of $773.00 million during the quarter, compared to analysts’ expectations of $766.78 million. Sinclair had a negative net margin of 1.35% and a negative return on equity of 10.19%. The company’s revenue was down 15.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.43 EPS. On average, research analysts forecast that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Announces Dividend

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

Insider Transactions at Sinclair

In other news, Director Benson E. Legg sold 6,548 shares of Sinclair stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $15.81, for a total value of $103,523.88. Following the completion of the transaction, the director directly owned 71,165 shares of the company’s stock, valued at approximately $1,125,118.65. This trade represents a 8.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David B. Gibber sold 29,376 shares of the firm’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 sale, the executive vice president directly owned 165,272 shares of the company’s stock, valued at $2,755,084.24. This represents a 15.09% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 50,637 shares of company stock valued at $815,535. Corporate insiders own 41.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Guggenheim increased their price objective on shares of Sinclair from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sinclair in a report on Monday, December 29th. Zacks Research raised shares of Sinclair from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Finally, Wall Street Zen upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.00.

Sinclair Company 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.