Sinclair (NASDAQ:SBGI) Downgraded to “Sell” at StockNews.com

Sinclair (NASDAQ:SBGI) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Separately, Rosenblatt Securities boosted their price target on shares of Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a research report on Friday.

Sinclair Stock Up 4.3 %

NASDAQ SBGI traded up $0.61 during trading on Friday, reaching $14.67. 1,415,797 shares of the company’s stock were exchanged, compared to its average volume of 426,130. Sinclair has a 1 year low of $9.39 and a 1 year high of $17.58. The stock has a market cap of $973.50 million, a P/E ratio of -2.06, a price-to-earnings-growth ratio of 0.12 and a beta of 1.54. 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 company has a 50 day moving average price of $13.90 and a two-hundred day moving average price of $13.22.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share (EPS) 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 firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.09) earnings per share. On average, equities research analysts anticipate that Sinclair will post 4.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Sinclair

A number of institutional investors have recently modified their holdings of SBGI. Capital Management Corp VA boosted its stake in Sinclair by 36.7% during the 1st quarter. Capital Management Corp VA now owns 2,006,720 shares of the company’s stock worth $27,031,000 after purchasing an additional 538,740 shares during the period. Alden Global Capital LLC boosted its stake in shares of Sinclair by 86.1% during the fourth quarter. Alden Global Capital LLC now owns 645,400 shares of the company’s stock worth $8,410,000 after buying an additional 298,508 shares during the period. Empyrean Capital Partners LP acquired a new stake in shares of Sinclair during the second quarter worth about $2,873,000. Inspire Advisors LLC purchased a new position in shares of Sinclair during the second quarter worth about $1,552,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Sinclair in the 1st quarter valued at about $1,359,000. 41.71% of the stock is owned by institutional investors and hedge funds.

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.