Brokerages Set Sinclair, Inc. (NASDAQ:SBGI) PT at $19.00

Sinclair, Inc. (NASDAQ:SBGI) has earned a consensus rating of “Hold” from the six research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $19.00.

SBGI has been the topic of a number of recent research reports. Guggenheim lifted their target price on shares of Sinclair from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Wall Street Zen cut shares of Sinclair from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings restated a “hold (c-)” rating on shares of Sinclair in a research note on Monday, December 29th. Finally, Zacks Research raised shares of Sinclair from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th.

Insider Buying and Selling

In other news, Director Howard E. Friedman sold 14,713 shares of Sinclair stock in a transaction 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 transaction, the director owned 77,685 shares in the company, valued at approximately $1,173,820.35. The trade was a 15.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David B. Gibber sold 29,376 shares of Sinclair stock in a transaction 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 completion of the sale, the executive vice president directly owned 165,272 shares of the company’s stock, valued at approximately $2,755,084.24. The trade was a 15.09% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 50,637 shares of company stock valued at $815,535. 41.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sinclair

A number of institutional investors and hedge funds have recently made changes to their positions in SBGI. Capital Management Corp VA lifted its position in Sinclair by 6.2% during the third quarter. Capital Management Corp VA now owns 1,655,050 shares of the company’s stock valued at $24,991,000 after purchasing an additional 97,226 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Sinclair by 5.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 3,940,802 shares of the company’s stock valued at $54,462,000 after buying an additional 200,415 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Sinclair by 15.3% in the second quarter. Geode Capital Management LLC now owns 971,689 shares of the company’s stock worth $13,431,000 after acquiring an additional 129,277 shares in the last quarter. Optimize Financial Inc acquired a new position in shares of Sinclair in the third quarter valued at about $1,617,000. Finally, Alpha Wealth Funds LLC acquired a new position in Sinclair in the second quarter valued at approximately $515,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Sinclair Stock Up 2.4%

Shares of NASDAQ SBGI opened at $14.96 on Thursday. The stock has a market capitalization of $1.04 billion, a P/E ratio of -24.13 and a beta of 0.96. Sinclair has a one year low of $11.89 and a one year high of $17.88. The firm’s 50 day simple moving average is $15.12 and its two-hundred day simple moving average is $14.62. The company has a debt-to-equity ratio of 14.77, a current ratio of 2.01 and a quick ratio of 2.01.

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.