Sinclair (NASDAQ:SBGI) Upgraded to Hold at Wall Street Zen

Sinclair (NASDAQ:SBGI) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

Other research analysts have also issued reports about the stock. Zacks Research raised shares of Sinclair from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sinclair in a research report on Monday, December 29th. Finally, Guggenheim boosted their price objective on Sinclair from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.00.

Sinclair Stock Performance

Sinclair stock opened at $14.60 on Friday. Sinclair has a 12-month low of $11.89 and a 12-month high of $17.88. 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 has a market capitalization of $1.02 billion, a price-to-earnings ratio of -23.55 and a beta of 0.96. The firm’s fifty day moving average price is $15.01 and its 200 day moving average price is $14.64.

Insider Transactions at Sinclair

In related news, 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 in the company, valued at approximately $1,125,118.65. This trade represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Howard E. Friedman sold 14,713 shares of Sinclair stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $15.11, for a total transaction of $222,313.43. Following the completion of the transaction, the director owned 77,685 shares in the company, valued at approximately $1,173,820.35. This trade represents a 15.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 50,637 shares of company stock valued at $815,535. Corporate insiders own 41.90% of the company’s stock.

Institutional Investors Weigh In On Sinclair

Several large investors have recently modified their holdings of SBGI. Geneos Wealth Management Inc. raised its position in shares of Sinclair by 142.0% during the second 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 during the period. Hilton Head Capital Partners LLC purchased a new position in Sinclair in the 4th quarter worth about $32,000. Tower Research Capital LLC TRC raised its holdings in Sinclair by 175.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock worth $41,000 after buying an additional 1,882 shares during the period. Aquatic Capital Management LLC purchased a new stake in Sinclair during the third quarter valued at about $48,000. Finally, Raymond James Financial Inc. purchased a new stake in Sinclair during the second quarter valued at about $54,000. 41.71% of the stock is owned by institutional investors.

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.