Sinclair (NASDAQ:SBGI) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Sinclair, Inc. (NASDAQ:SBGI)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.67 and traded as high as $15.32. Sinclair shares last traded at $15.24, with a volume of 281,604 shares.

Wall Street Analysts Forecast Growth

SBGI has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sinclair in a research report on Monday, December 29th. Guggenheim upped their target price on Sinclair from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Wall Street Zen raised Sinclair from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Zacks Research raised Sinclair from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Sinclair has a consensus rating of “Hold” and a consensus target price of $19.00.

Sinclair Trading Up 1.3%

The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -24.58 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 company’s fifty day moving average price is $15.42 and its 200-day moving average price is $14.67.

Sinclair (NASDAQ:SBGI) last released its earnings results on Wednesday, November 5th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.63. Sinclair had a negative net margin of 1.35% and a negative return on equity of 10.19%. The company had revenue of $773.00 million for the quarter, compared to the consensus estimate of $766.78 million. During the same quarter in the previous year, the firm earned $1.43 EPS. Sinclair’s revenue was down 15.7% compared to the same quarter last year. On average, research analysts expect that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.6%. Sinclair’s payout ratio is -161.29%.

Insider Activity at Sinclair

In related news, EVP David B. Gibber sold 29,376 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $16.67, for a total value of $489,697.92. Following the sale, the executive vice president owned 165,272 shares in the company, valued at $2,755,084.24. This represents a 15.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Howard E. Friedman sold 14,713 shares of Sinclair stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $15.11, for a total transaction of $222,313.43. Following the sale, the director owned 77,685 shares of the company’s stock, valued at approximately $1,173,820.35. The trade was a 15.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 50,637 shares of company stock worth $815,535 over the last quarter. Insiders own 46.60% of the company’s stock.

Institutional Trading of Sinclair

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

About Sinclair

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.