Sinclair, Inc. (NASDAQ:SBGI) Given Consensus Rating of "Hold" by Analysts

Shares of Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) have been assigned a consensus rating of "Hold" from the five ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $19.30.

Several equities research analysts recently weighed in on the company. Guggenheim cut their price objective on Sinclair from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Monday, March 10th. StockNews.com downgraded Sinclair from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Benchmark reiterated a "buy" rating and set a $30.00 target price on shares of Sinclair in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company cut their price target on shares of Sinclair from $19.00 to $17.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th.

Insider Activity at Sinclair

In other news, Chairman David D. Smith bought 63,073 shares of the company's stock in a transaction on Wednesday, April 9th. The shares were purchased at an average price of $12.91 per share, with a total value of $814,272.43. Following the transaction, the chairman now directly owns 1,526,029 shares in the company, valued at $19,701,034.39. This represents a 4.31 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought 458,530 shares of company stock valued at $6,636,392 over the last ninety days. Corporate insiders own 46.60% of the company's stock.

Institutional Trading of Sinclair

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its stake in Sinclair by 26.9% in the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company's stock valued at $47,000 after purchasing an additional 613 shares during the period. Federated Hermes Inc. bought a new position in Sinclair during the fourth quarter valued at about $47,000. NBC Securities Inc. grew its position in Sinclair by 105,075.0% during the first quarter. NBC Securities Inc. now owns 4,207 shares of the company's stock valued at $67,000 after buying an additional 4,203 shares during the period. Harbor Capital Advisors Inc. increased its holdings in Sinclair by 71.5% during the first quarter. Harbor Capital Advisors Inc. now owns 4,937 shares of the company's stock worth $79,000 after buying an additional 2,058 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in Sinclair by 29.4% in the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company's stock worth $121,000 after acquiring an additional 1,700 shares during the period. 41.71% of the stock is owned by hedge funds and other institutional investors.

Sinclair Price Performance

NASDAQ:SBGI traded up $0.06 during trading hours on Friday, hitting $14.32. The company's stock had a trading volume of 279,976 shares, compared to its average volume of 357,480. Sinclair has a twelve month low of $11.13 and a twelve month high of $18.46. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. The stock has a fifty day simple moving average of $14.75 and a 200-day simple moving average of $15.79. The company has a market capitalization of $951.84 million, a P/E ratio of -4.34 and a beta of 1.29.

Sinclair (NASDAQ:SBGI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, beating analysts' consensus estimates of $1.99 by $0.62. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. On average, analysts anticipate that Sinclair will post 4.24 EPS for the current fiscal year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a $0.25 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.00 annualized dividend and a dividend yield of 6.98%. Sinclair's dividend payout ratio is currently 21.46%.

Sinclair Company Profile

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.