Sinclair (NASDAQ:SBGI) Trading Down 3.1%

Sinclair, Inc. (NASDAQ:SBGIGet Free Report)’s stock price traded down 3.1% during trading on Tuesday . The company traded as low as $12.92 and last traded at $12.97. 13,180 shares traded hands during trading, a decline of 97% from the average session volume of 442,366 shares. The stock had previously closed at $13.38.

Analyst Ratings Changes

Separately, raised shares of Sinclair from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.14.

Get Our Latest Stock Analysis on Sinclair

Sinclair Price Performance

The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 15.29. The firm’s fifty day simple moving average is $12.94 and its 200-day simple moving average is $13.49.

Sinclair (NASDAQ:SBGIGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.97. The company had revenue of $798.00 million during the quarter, compared to analysts’ expectations of $798.68 million. Sinclair had a negative net margin of 14.34% and a negative return on equity of 2.65%. Analysts forecast that Sinclair, Inc. will post 3.75 earnings per share for the current year.

Sinclair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 7.49%. The ex-dividend date was Monday, June 3rd. Sinclair’s dividend payout ratio (DPR) is presently -14.04%.

Institutional Investors Weigh In On Sinclair

Several institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in Sinclair by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,889,863 shares of the company’s stock valued at $24,626,000 after buying an additional 78,793 shares during the period. Choreo LLC bought a new stake in shares of Sinclair in the 4th quarter valued at $2,982,000. AQR Capital Management LLC lifted its position in shares of Sinclair by 102.0% during the 3rd quarter. AQR Capital Management LLC now owns 478,946 shares of the company’s stock valued at $5,374,000 after acquiring an additional 241,895 shares during the period. Alden Global Capital LLC boosted its stake in Sinclair by 86.1% during the fourth quarter. Alden Global Capital LLC now owns 645,400 shares of the company’s stock worth $8,410,000 after acquiring an additional 298,508 shares in the last quarter. Finally, NBC Securities Inc. grew its holdings in Sinclair by 35.1% in the fourth quarter. NBC Securities Inc. now owns 3,845 shares of the company’s stock worth $50,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 41.71% of the company’s stock.

About Sinclair

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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.

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