Sinclair (NASDAQ:SBGI) Shares Gap Down to $11.84

Sinclair, Inc. (NASDAQ:SBGI)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $11.84, but opened at $11.58. Sinclair shares last traded at $11.79, with a volume of 13,050 shares trading hands.

Analyst Upgrades and Downgrades

SBGI has been the topic of several research analyst reports. StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Wells Fargo & Company upped their target price on Sinclair from $12.00 to $13.00 and gave the stock an “underweight” rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Sinclair has an average rating of “Hold” and an average price target of $18.14.

Sinclair Price Performance

The stock’s fifty day moving average is $12.87 and its 200-day moving average is $13.47. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 15.29.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.97. Sinclair had a negative return on equity of 2.65% and a negative net margin of 14.34%. The business had revenue of $798.00 million for the quarter, compared to analyst estimates of $798.68 million. As a group, equities analysts anticipate that Sinclair, Inc. will post 3.75 EPS for the current year.

Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 8.13%. Sinclair’s payout ratio is presently -14.04%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Fidelis Capital Partners LLC bought a new position in shares of Sinclair in the first quarter worth about $49,000. NBC Securities Inc. grew its holdings in Sinclair by 35.1% in the 4th quarter. NBC Securities Inc. now owns 3,845 shares of the company’s stock valued at $50,000 after buying an additional 1,000 shares during the last quarter. EntryPoint Capital LLC increased its position in Sinclair by 37.2% in the 1st quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock worth $54,000 after buying an additional 1,085 shares during the period. Central Pacific Bank Trust Division acquired a new position in shares of Sinclair during the first quarter worth approximately $76,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Sinclair in the fourth quarter valued at approximately $117,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

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.