Kendall Capital Management Makes New $280,000 Investment in Sinclair, Inc. (NASDAQ:SBGI)

Kendall Capital Management bought a new position in Sinclair, Inc. (NASDAQ:SBGI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,370 shares of the company’s stock, valued at approximately $280,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in shares of Sinclair by 26.9% in the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after acquiring an additional 613 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Sinclair by 29.4% in the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock valued at $121,000 after acquiring an additional 1,700 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of Sinclair by 15.4% in the third quarter. HighTower Advisors LLC now owns 28,463 shares of the company’s stock valued at $433,000 after acquiring an additional 3,801 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Sinclair in the third quarter valued at approximately $91,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Sinclair in the third quarter valued at approximately $121,000. 41.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sinclair

In related news, Chairman David D. Smith acquired 30,296 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $14.09 per share, for a total transaction of $426,870.64. Following the purchase, the chairman now owns 728,986 shares in the company, valued at $10,271,412.74. This represents a 4.34 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 46.60% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Benchmark reissued a “buy” rating and set a $30.00 target price on shares of Sinclair in a research note on Tuesday, January 28th. JPMorgan Chase & Co. increased their target price on shares of Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Guggenheim increased their target price on shares of Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. StockNews.com lowered shares of Sinclair from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Wells Fargo & Company cut their target price on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Sinclair currently has a consensus rating of “Hold” and a consensus target price of $19.70.

Sinclair Stock Down 1.5 %

Shares of NASDAQ:SBGI opened at $14.40 on Monday. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. The company has a market cap of $956.46 million, a PE ratio of -4.36 and a beta of 1.50. Sinclair, Inc. has a 52 week low of $11.13 and a 52 week high of $18.45. The firm has a 50 day simple moving average of $15.04 and a 200 day simple moving average of $15.66.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 EPS for the quarter, beating the consensus estimate of $1.99 by $0.62. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. As a group, research analysts expect that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.00 annualized dividend and a yield of 6.94%. Sinclair’s dividend payout ratio is presently 21.46%.

About Sinclair

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.