Sinclair (NASDAQ:SBGI) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Sinclair, Inc. (NASDAQ:SBGI)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.59 and traded as high as $15.10. Sinclair shares last traded at $14.63, with a volume of 475,033 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Guggenheim lifted their price objective on Sinclair from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Zacks Research upgraded shares of Sinclair from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Sinclair in a research note on Monday, December 29th. Finally, Wall Street Zen raised shares of Sinclair from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Sinclair has a consensus rating of “Hold” and an average price target of $19.00.

Sinclair Stock Down 3.0%

The company has a market cap of $1.02 billion, a P/E ratio of -23.60 and a beta of 0.96. The company has a debt-to-equity ratio of 14.77, a current ratio of 2.01 and a quick ratio of 2.01. The business’s 50 day moving average price is $15.47 and its 200-day moving average price is $14.59.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.63. Sinclair had a negative return on equity of 10.19% and a negative net margin of 1.35%.The firm had revenue of $773.00 million during the quarter, compared to analysts’ expectations of $766.78 million. During the same period last year, the firm posted $1.43 EPS. The business’s revenue was down 15.7% on a year-over-year basis. On average, analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend was Monday, December 1st. Sinclair’s payout ratio is currently -161.29%.

Insider Transactions at Sinclair

In other news, EVP David B. Gibber sold 29,376 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $16.67, for a total transaction of $489,697.92. Following the sale, the executive vice president directly owned 165,272 shares of the company’s stock, valued at $2,755,084.24. This represents a 15.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Benson E. Legg sold 6,548 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $15.81, for a total transaction of $103,523.88. Following the completion of the sale, the director directly owned 71,165 shares of the company’s stock, valued at approximately $1,125,118.65. This represents a 8.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 41.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SBGI. Geneos Wealth Management Inc. increased its stake in shares of Sinclair by 142.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock valued at $25,000 after buying an additional 1,065 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Sinclair by 175.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock valued at $41,000 after acquiring an additional 1,882 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in Sinclair in the third quarter worth about $48,000. Raymond James Financial Inc. acquired a new stake in Sinclair in the second quarter worth about $54,000. Finally, Ameritas Investment Partners Inc. raised its holdings in Sinclair by 26.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,945 shares of the company’s stock worth $55,000 after purchasing an additional 820 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors.

Sinclair Company Profile

Sinclair Broadcast Group, Inc (NASDAQ: SBGI) is a media and entertainment company headquartered in Hunt Valley, Maryland. Founded in 1971 as a single UHF television station operator, Sinclair has grown through strategic acquisitions and organic expansion to become one of the largest owners of local television stations in the United States. Over its history, the company has pursued a diversified portfolio that includes both traditional broadcast assets and newer digital platforms.

At its core, Sinclair operates over 190 television stations affiliated with the major national broadcast networks, including ABC, CBS, NBC, Fox, The CW and MyNetworkTV.