Sinclair (NASDAQ:SBGI) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of Sinclair, Inc. (NASDAQ:SBGI) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.92 and traded as high as $17.13. Sinclair shares last traded at $17.06, with a volume of 184,151 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Rosenblatt Securities boosted their target price on shares of Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a report on Friday, September 20th. StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. Finally, Benchmark boosted their target price on shares of Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $19.88.

Sinclair Trading Up 1.4 %

The company has a market cap of $1.13 billion, a P/E ratio of -3.12, a PEG ratio of 0.14 and a beta of 1.55. The stock’s 50 day moving average is $15.10 and its 200-day moving average is $13.92. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 14.93.

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

Sinclair Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.86%. The ex-dividend date of this dividend was Friday, August 30th. Sinclair’s dividend payout ratio is currently -18.28%.

Hedge Funds Weigh In On Sinclair

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. bought a new position in Sinclair during the 3rd quarter valued at about $39,000. Pinnacle Associates Ltd. lifted its stake in Sinclair by 2.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 642,738 shares of the company’s stock valued at $9,834,000 after acquiring an additional 14,384 shares during the period. nVerses Capital LLC lifted its stake in Sinclair by 71.4% during the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $55,000 after acquiring an additional 1,500 shares during the period. GAMMA Investing LLC increased its position in shares of Sinclair by 81.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock valued at $35,000 after purchasing an additional 1,026 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Sinclair during the 3rd quarter valued at about $310,000. Institutional investors 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.