Kendall Capital Management Reduces Position in Sinclair, Inc. $SBGI

Kendall Capital Management cut its holdings in shares of Sinclair, Inc. (NASDAQ:SBGI) by 9.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,530 shares of the company’s stock after selling 2,545 shares during the quarter. Kendall Capital Management’s holdings in Sinclair were worth $353,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SBGI. Ameriprise Financial Inc. purchased a new stake in shares of Sinclair in the fourth quarter worth about $194,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Sinclair by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,302 shares of the company’s stock valued at $295,000 after purchasing an additional 760 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Sinclair by 19.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 86,580 shares of the company’s stock valued at $1,397,000 after purchasing an additional 14,344 shares in the last quarter. Central Pacific Bank Trust Division raised its stake in Sinclair by 77.8% in the first quarter. Central Pacific Bank Trust Division now owns 8,000 shares of the company’s stock valued at $127,000 after purchasing an additional 3,500 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Sinclair by 1,804.4% during the first quarter. GAMMA Investing LLC now owns 55,150 shares of the company’s stock worth $879,000 after acquiring an additional 52,254 shares in the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SBGI shares. Benchmark cut their target price on shares of Sinclair from $29.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Guggenheim dropped their target price on shares of Sinclair from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, August 14th. Zacks Research upgraded shares of Sinclair to a “hold” rating in a report on Thursday, August 21st. Finally, Wells Fargo & Company dropped their target price on shares of Sinclair from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, August 7th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Sinclair presently has an average rating of “Hold” and an average target price of $18.75.

Sinclair Price Performance

NASDAQ SBGI opened at $14.79 on Friday. The company has a 50-day moving average price of $14.18 and a 200-day moving average price of $14.42. The firm has a market capitalization of $1.03 billion, a P/E ratio of 17.82 and a beta of 1.31. Sinclair, Inc. has a 52 week low of $11.89 and a 52 week high of $18.45. 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 (NASDAQ:SBGI) last released its earnings results on Wednesday, August 6th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.19). Sinclair had a return on equity of 12.51% and a net margin of 1.44%.The firm had revenue of $784.00 million during the quarter, compared to analysts’ expectations of $798.16 million. During the same period in the prior year, the company posted $0.27 earnings per share. The company’s revenue was down 5.4% compared to the same quarter last year. Equities research analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.8%. The ex-dividend date was Friday, August 29th. Sinclair’s dividend payout ratio is presently 120.48%.

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.