Sinclair, Inc. (NASDAQ:SBGI) Given Average Recommendation of “Hold” by Brokerages

Sinclair, Inc. (NASDAQ:SBGI) has been given a consensus recommendation of “Hold” by the five analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $19.30.

Several equities research analysts have weighed in on the stock. Wells Fargo & Company cut their target price 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. Guggenheim lowered their target price on Sinclair from $19.00 to $17.00 and set a “buy” rating for the company in a report on Monday, March 10th. StockNews.com lowered Sinclair from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Benchmark reissued a “buy” rating and issued a $30.00 target price on shares of Sinclair in a research report on Tuesday, January 28th.

Insider Buying and Selling

In other news, Chairman David D. Smith bought 17,902 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were acquired at an average cost of $16.45 per share, for a total transaction of $294,487.90. Following the completion of the acquisition, the chairman now owns 1,082,771 shares in the company, valued at approximately $17,811,582.95. This represents a 1.68 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have purchased 262,541 shares of company stock worth $3,844,778. Corporate insiders own 46.60% of the company’s stock.

Institutional Trading of Sinclair

Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in Sinclair by 26.9% during the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock worth $47,000 after acquiring an additional 613 shares during the period. Federated Hermes Inc. bought a new stake in shares of Sinclair in the fourth quarter worth $47,000. Point72 DIFC Ltd acquired a new stake in Sinclair in the third quarter valued at $91,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Sinclair during the 3rd quarter worth $121,000. Finally, New York State Common Retirement Fund lifted its holdings in Sinclair by 29.4% during the 4th quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock worth $121,000 after buying an additional 1,700 shares during the period. Institutional investors own 41.71% of the company’s stock.

Sinclair Trading Down 0.3 %

NASDAQ SBGI opened at $15.63 on Monday. Sinclair has a 12 month low of $11.13 and a 12 month high of $18.46. The stock has a 50-day simple moving average of $14.92 and a 200 day simple moving average of $15.83. 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 company has a market capitalization of $1.04 billion, a PE ratio of -4.74 and a beta of 1.50.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Research analysts forecast that Sinclair will post 4.24 EPS for the current year.

Sinclair Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.40%. The ex-dividend date of this dividend was Monday, March 10th. Sinclair’s dividend payout ratio is currently 21.46%.

About Sinclair

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.