Sinclair (NASDAQ:SBGI) Shares Down 7.7%

Sinclair, Inc. (NASDAQ:SBGIGet Free Report) shares dropped 7.7% during mid-day trading on Friday . The company traded as low as $14.99 and last traded at $15.00. Approximately 354,117 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 447,428 shares. The stock had previously closed at $16.26.

Analyst Upgrades and Downgrades

SBGI has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their target price on shares of Sinclair from $12.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, March 1st. Rosenblatt Securities increased their target price 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. Finally, StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a research report on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.14.

Check Out Our Latest Stock Analysis on Sinclair

Sinclair Stock Performance

The company’s 50-day simple moving average is $12.78 and its 200 day simple moving average is $13.54. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 18.73.

Sinclair (NASDAQ:SBGIGet Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.46 by $0.35. The company had revenue of $826.00 million for the quarter, compared to the consensus estimate of $838.75 million. Sinclair had a negative return on equity of 2.36% and a negative net margin of 14.34%. The company’s revenue for the quarter was down 14.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 earnings per share. On average, sell-side analysts predict that Sinclair, Inc. will post 2.42 EPS for the current fiscal year.

Sinclair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.67%. The ex-dividend date is Monday, June 3rd. Sinclair’s dividend payout ratio is currently -14.04%.

Insiders Place Their Bets

In other Sinclair news, Director Daniel C. Keith sold 30,086 shares of Sinclair stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $13.58, for a total value of $408,567.88. Following the transaction, the director now directly owns 30,000 shares of the company’s stock, valued at approximately $407,400. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Sinclair news, Director Daniel C. Keith sold 30,086 shares of Sinclair stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $13.58, for a total value of $408,567.88. Following the transaction, the director now directly owns 30,000 shares of the company’s stock, valued at approximately $407,400. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO David R. Bochenek sold 20,803 shares of Sinclair stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $13.44, for a total value of $279,592.32. The disclosure for this sale can be found here. Company insiders own 39.60% of the company’s stock.

Institutional Trading of Sinclair

Institutional investors have recently modified their holdings of the company. American Financial Group Inc. grew its holdings in shares of Sinclair by 12.7% during the 3rd quarter. American Financial Group Inc. now owns 658,420 shares of the company’s stock worth $7,387,000 after purchasing an additional 74,101 shares in the last quarter. Choreo LLC acquired a new stake in shares of Sinclair during the 4th quarter worth approximately $2,982,000. AQR Capital Management LLC grew its holdings in shares of Sinclair by 102.0% during the 3rd quarter. AQR Capital Management LLC now owns 478,946 shares of the company’s stock worth $5,374,000 after purchasing an additional 241,895 shares in the last quarter. Capital Management Corp VA boosted its stake in Sinclair by 16.5% in the 3rd quarter. Capital Management Corp VA now owns 1,652,805 shares of the company’s stock valued at $18,544,000 after buying an additional 233,977 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in Sinclair in the 3rd quarter valued at $446,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

About Sinclair

(Get Free Report)

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.

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