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

Kendall Capital Management purchased a new position in shares of Sinclair, Inc. (NASDAQ:SBGI) during the 4th quarter, HoldingsChannel reports. The firm purchased 17,370 shares of the company’s stock, valued at approximately $280,000.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in Sinclair by 26.9% in the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after buying an additional 613 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Sinclair in the 3rd quarter valued at $91,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Sinclair in the 3rd quarter valued at $121,000. New York State Common Retirement Fund grew its stake in Sinclair by 29.4% in the 4th quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock valued at $121,000 after buying an additional 1,700 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in Sinclair in the 4th quarter valued at $262,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Analysts Set New Price Targets

SBGI has been the topic of a number of research analyst reports. Benchmark reiterated a “buy” rating and issued a $30.00 target price on shares of Sinclair in a research note on Tuesday, January 28th. JPMorgan Chase & Co. raised 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. StockNews.com downgraded shares of Sinclair from a “buy” rating to a “hold” rating in a report on Thursday. Guggenheim increased their price target on shares of Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Wells Fargo & Company reduced their price target on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Sinclair currently has an average rating of “Hold” and a consensus price target of $19.70.

Insider Activity

In other news, Chairman David D. Smith purchased 38,410 shares of Sinclair stock in a transaction on Monday, March 3rd. The shares were purchased at an average cost of $14.01 per share, for a total transaction of $538,124.10. Following the completion of the transaction, the chairman now directly owns 645,564 shares in the company, valued at approximately $9,044,351.64. This represents a 6.33 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 46.60% of the stock is owned by company insiders.

Sinclair Price Performance

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 50-day moving average of $15.04 and a 200-day moving average of $15.66. Sinclair, Inc. has a 52 week low of $11.13 and a 52 week high of $18.45. The company has a market capitalization of $956.46 million, a price-to-earnings ratio of -4.36 and a beta of 1.50.

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

Sinclair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.00 annualized dividend and a dividend yield of 6.94%. Sinclair’s dividend payout ratio (DPR) is currently 21.46%.

Sinclair 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.