EntryPoint Capital LLC Takes Position in Sinclair, Inc. (NASDAQ:SBGI)

EntryPoint Capital LLC acquired a new stake in Sinclair, Inc. (NASDAQ:SBGI) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 12,039 shares of the company’s stock, valued at approximately $194,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Sinclair by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 3,714,036 shares of the company’s stock worth $59,945,000 after purchasing an additional 64,683 shares during the last quarter. LPL Financial LLC grew its position in shares of Sinclair by 10.8% during the 4th quarter. LPL Financial LLC now owns 95,260 shares of the company’s stock worth $1,538,000 after purchasing an additional 9,295 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Sinclair during the 4th quarter worth $123,000. American Century Companies Inc. increased its position in shares of Sinclair by 15.9% in the fourth quarter. American Century Companies Inc. now owns 73,008 shares of the company’s stock worth $1,178,000 after purchasing an additional 10,018 shares during the period. Finally, HighTower Advisors LLC increased its holdings in Sinclair by 19.6% in the 4th quarter. HighTower Advisors LLC now owns 34,050 shares of the company’s stock valued at $550,000 after buying an additional 5,587 shares during the period. Institutional investors and hedge funds own 41.71% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman David D. Smith bought 30,296 shares of Sinclair stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average cost of $14.09 per share, with a total value of $426,870.64. Following the transaction, the chairman now directly owns 728,986 shares of the company’s stock, valued at approximately $10,271,412.74. The trade was a 4.34 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have acquired 262,541 shares of company stock valued at $3,844,778. Insiders own 46.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Guggenheim decreased their price target on Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. StockNews.com cut shares of Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Wells Fargo & Company cut their price objective on Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 27th. Finally, Benchmark restated a “buy” rating and issued a $30.00 target price on shares of Sinclair in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sinclair currently has a consensus rating of “Hold” and a consensus target price of $19.30.

Sinclair Trading Down 0.3 %

NASDAQ SBGI opened at $15.63 on Friday. Sinclair, Inc. has a 52 week low of $11.13 and a 52 week high of $18.46. The business has a 50 day moving average price of $14.92 and a 200-day moving average price of $15.85. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -4.74 and a beta of 1.50.

Sinclair (NASDAQ:SBGI) last announced its quarterly 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. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations 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, equities analysts expect that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.00 annualized dividend and a dividend yield of 6.40%. Sinclair’s dividend payout ratio is currently 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.