Sinclair (NASDAQ:SBGI) Shares Gap Down - What's Next?

Shares of Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $16.96, but opened at $16.35. Sinclair shares last traded at $16.43, with a volume of 24,065 shares traded.

Analysts Set New Price Targets

Several brokerages recently commented on SBGI. Benchmark reaffirmed a "buy" rating and issued a $30.00 target price on shares of Sinclair in a research report on Tuesday, January 28th. Guggenheim reduced their price objective on shares of Sinclair from $19.00 to $17.00 and set a "buy" rating for the company in a report on Monday, March 10th. StockNews.com cut shares of Sinclair from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Wells Fargo & Company cut their price target on shares of Sinclair from $19.00 to $17.00 and set an "equal weight" rating for the company in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Sinclair has an average rating of "Hold" and an average target price of $19.30.

Sinclair Stock Down 0.5 %

The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. The stock has a market capitalization of $1.04 billion, a P/E ratio of -4.72 and a beta of 1.50. The firm's fifty day moving average is $14.91 and its 200-day moving average is $15.82.

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Sinclair (NASDAQ:SBGI - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $1.99 by $0.62. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. As a group, equities research analysts predict that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.41%. Sinclair's dividend payout ratio is 21.46%.

Insider Buying and Selling

In related news, Chairman David D. Smith bought 38,410 shares of the company's stock in a transaction on Monday, March 3rd. The stock was bought at an average cost of $14.01 per share, with a total value of $538,124.10. Following the completion of the purchase, the chairman now owns 645,564 shares in the company, valued at approximately $9,044,351.64. The trade was a 6.33 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have purchased a total of 262,541 shares of company stock worth $3,844,778 in the last 90 days. Corporate insiders own 46.60% of the company's stock.

Institutional Trading of Sinclair

Hedge funds have recently modified their holdings of the stock. Kendall Capital Management acquired a new position in Sinclair during the 4th quarter worth $280,000. Verition Fund Management LLC bought a new position in Sinclair in the third quarter valued at about $822,000. Rhumbline Advisers increased its position in Sinclair by 56.3% in the fourth quarter. Rhumbline Advisers now owns 86,072 shares of the company's stock worth $1,389,000 after purchasing an additional 31,015 shares during the period. Barclays PLC lifted its position in Sinclair by 378.1% during the 3rd quarter. Barclays PLC now owns 54,229 shares of the company's stock valued at $831,000 after purchasing an additional 42,887 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in shares of Sinclair by 29.4% in the 4th quarter. New York State Common Retirement Fund now owns 7,480 shares of the company's stock valued at $121,000 after purchasing an additional 1,700 shares during the last quarter. 41.71% of the stock is owned by institutional investors.

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.