Sinclair, Inc. (NASDAQ:SBGI) Given Average Rating of “Hold” by Analysts

Sinclair, Inc. (NASDAQ:SBGI) has received an average rating of “Hold” from the five ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $18.14.

Several brokerages have recently commented on SBGI. Rosenblatt Securities boosted their target price on shares of Sinclair from $10.40 to $15.70 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Wells Fargo & Company lifted their price objective on shares of Sinclair from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Friday, March 1st. Finally, StockNews.com cut Sinclair from a “hold” rating to a “sell” rating in a research note on Friday, March 1st.

Insider Buying and Selling at Sinclair

In other news, Director Daniel C. Keith sold 30,086 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $13.58, for a total transaction of $408,567.88. Following the completion of the transaction, the director now directly owns 30,000 shares in the company, valued at $407,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO David R. Bochenek sold 20,803 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $13.44, for a total value of $279,592.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel C. Keith sold 30,086 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $13.58, for a total value of $408,567.88. Following the completion of the sale, the director now owns 30,000 shares of the company’s stock, valued at $407,400. The disclosure for this sale can be found here. Company insiders own 39.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SBGI. Raymond James Financial Services Advisors Inc. bought a new position in shares of Sinclair during the third quarter worth about $240,000. Grant GrossMendelsohn LLC increased its position in Sinclair by 6.3% during the 3rd quarter. Grant GrossMendelsohn LLC now owns 43,298 shares of the company’s stock valued at $486,000 after purchasing an additional 2,571 shares during the period. Verdence Capital Advisors LLC bought a new position in Sinclair during the 3rd quarter worth approximately $145,000. Allspring Global Investments Holdings LLC lifted its position in shares of Sinclair by 911.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,477 shares of the company’s stock worth $230,000 after purchasing an additional 18,452 shares during the period. Finally, Capital Management Corp VA boosted its stake in shares of Sinclair by 16.5% in the 3rd quarter. Capital Management Corp VA now owns 1,652,805 shares of the company’s stock valued at $18,544,000 after purchasing an additional 233,977 shares during the last quarter. 41.71% of the stock is owned by institutional investors and hedge funds.

Sinclair Price Performance

Shares of NASDAQ SBGI opened at $12.12 on Monday. The business has a fifty day moving average price of $13.05 and a two-hundred day moving average price of $13.34. The stock has a market capitalization of $770.86 million, a PE ratio of -2.51, a P/E/G ratio of 0.29 and a beta of 1.40. The company has a debt-to-equity ratio of 18.73, a current ratio of 1.34 and a quick ratio of 1.34. Sinclair has a fifty-two week low of $9.39 and a fifty-two week high of $20.57.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.35. Sinclair had a positive return on equity of 26.46% and a negative net margin of 9.29%. The company had revenue of $826.00 million for the quarter, compared to analysts’ expectations of $838.75 million. During the same quarter last year, the business earned $0.90 earnings per share. Sinclair’s revenue was down 14.0% on a year-over-year basis. As a group, equities analysts predict that Sinclair will post 2.42 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.25%. The ex-dividend date was Friday, March 8th. Sinclair’s payout ratio is -20.70%.

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.