Brokerages Set Sinclair, Inc. (NASDAQ:SBGI) Price Target at $18.14

Sinclair, Inc. (NASDAQ:SBGI) has received a consensus recommendation of “Hold” from the five brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $18.14.

Several research firms recently commented on SBGI. Rosenblatt Securities boosted their price objective on shares of Sinclair from $10.40 to $15.70 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Wells Fargo & Company boosted their price target on Sinclair from $12.00 to $13.00 and gave the company an “underweight” rating in a report on Friday, March 1st. Finally, StockNews.com downgraded Sinclair from a “hold” rating to a “sell” rating in a report on Friday, March 1st.

Insider Transactions at Sinclair

In other news, Director Daniel C. Keith sold 30,086 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $13.58, for a total value of $408,567.88. Following the completion of the transaction, the director now owns 30,000 shares in the company, valued at approximately $407,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO David R. Bochenek sold 20,803 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $13.44, for a total transaction of $279,592.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Daniel C. Keith sold 30,086 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $13.58, for a total transaction of $408,567.88. Following the sale, the director now directly owns 30,000 shares in the company, valued at $407,400. The disclosure for this sale can be found here. Company insiders own 41.70% of the company’s stock.

Institutional Investors Weigh In On Sinclair

A number of institutional investors and hedge funds have recently modified their holdings of SBGI. Raymond James Financial Services Advisors Inc. acquired a new position in Sinclair during the third quarter worth approximately $240,000. Grant GrossMendelsohn LLC boosted its stake in shares of Sinclair by 6.3% during the 3rd quarter. Grant GrossMendelsohn LLC now owns 43,298 shares of the company’s stock worth $486,000 after acquiring an additional 2,571 shares during the period. Verdence Capital Advisors LLC acquired a new position in shares of Sinclair during the 3rd quarter worth approximately $145,000. Allspring Global Investments Holdings LLC raised its stake in Sinclair by 911.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,477 shares of the company’s stock valued at $230,000 after acquiring an additional 18,452 shares during the period. Finally, Capital Management Corp VA lifted its holdings in Sinclair by 16.5% during the 3rd quarter. Capital Management Corp VA now owns 1,652,805 shares of the company’s stock valued at $18,544,000 after purchasing an additional 233,977 shares during the last quarter. 41.71% of the stock is owned by institutional investors.

Sinclair Trading Up 4.0 %

NASDAQ:SBGI opened at $12.79 on Monday. The company has a debt-to-equity ratio of 18.73, a current ratio of 1.34 and a quick ratio of 1.34. The business’s 50-day simple moving average is $12.86 and its 200-day simple moving average is $13.37. Sinclair has a fifty-two week low of $9.39 and a fifty-two week high of $19.97. The stock has a market capitalization of $813.44 million, a PE ratio of -2.65, a price-to-earnings-growth ratio of 0.30 and a beta of 1.40.

Sinclair (NASDAQ:SBGI) last announced its earnings results on Wednesday, February 28th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.46 by $0.35. The firm had revenue of $826.00 million for the quarter, compared to the consensus estimate of $838.75 million. Sinclair had a negative net margin of 9.29% and a positive return on equity of 26.46%. The business’s quarterly revenue was down 14.0% on a year-over-year basis. During the same period last year, the company posted $0.90 EPS. Sell-side analysts expect that Sinclair will post 2.42 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were paid a $0.25 dividend. The ex-dividend date was Friday, March 8th. This represents a $1.00 annualized dividend and a yield of 7.82%. Sinclair’s payout ratio is currently -20.70%.

About Sinclair

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.