Sinclair (NASDAQ:SBGI) Stock Price Up 4.2%

Shares of Sinclair, Inc. (NASDAQ:SBGI) rose 4.2% during mid-day trading on Friday . The stock traded as high as $14.68 and last traded at $14.65. Approximately 102,195 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 418,912 shares. The stock had previously closed at $14.06.

Sinclair Stock Up 8.2 %

The firm’s 50-day simple moving average is $13.90 and its 200 day simple moving average is $13.21. The company has a debt-to-equity ratio of 14.93, a quick ratio of 1.78 and a current ratio of 1.78. The stock has a market capitalization of $1.01 billion, a P/E ratio of -2.08, a PEG ratio of 0.12 and a beta of 1.54.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.40. The firm had revenue of $829.00 million during the quarter, compared to the consensus estimate of $836.65 million. Sinclair had a positive return on equity of 22.55% and a negative net margin of 10.78%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company earned ($1.09) earnings per share. As a group, research analysts expect that Sinclair, Inc. will post 4.57 EPS for the current year.

Sinclair Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.57%. The ex-dividend date of this dividend was Friday, August 30th. Sinclair’s dividend payout ratio (DPR) is presently -14.04%.

Institutional Investors Weigh In On Sinclair

A number of institutional investors and hedge funds have recently modified their holdings of SBGI. Gamco Investors INC. ET AL raised its position in shares of Sinclair by 2.4% in the first quarter. Gamco Investors INC. ET AL now owns 3,591,266 shares of the company’s stock valued at $48,374,000 after buying an additional 85,070 shares in the last quarter. Capital Management Corp VA grew its position in Sinclair by 36.7% in the first quarter. Capital Management Corp VA now owns 2,006,720 shares of the company’s stock valued at $27,031,000 after acquiring an additional 538,740 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Sinclair by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,889,863 shares of the company’s stock worth $24,626,000 after acquiring an additional 78,793 shares during the last quarter. Alden Global Capital LLC boosted its stake in shares of Sinclair by 10.5% in the 2nd quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company’s stock valued at $16,341,000 after purchasing an additional 116,074 shares in the last quarter. Finally, Gabelli Funds LLC grew its holdings in shares of Sinclair by 1.7% during the 2nd quarter. Gabelli Funds LLC now owns 1,208,700 shares of the company’s stock valued at $16,112,000 after purchasing an additional 20,700 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.