Sinclair (NASDAQ:SBGI) Shares Up 7.3% – Still a Buy?

Shares of Sinclair, Inc. (NASDAQ:SBGI) rose 7.3% during mid-day trading on Monday . The stock traded as high as $14.98 and last traded at $14.6950. Approximately 84,488 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 327,106 shares. The stock had previously closed at $13.69.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Guggenheim lifted their price objective on Sinclair from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Sinclair in a research note on Monday, December 29th. Wall Street Zen raised Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Zacks Research raised shares of Sinclair from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Sinclair presently has an average rating of “Hold” and an average target price of $19.00.

Sinclair Stock Up 6.8%

The firm has a market cap of $1.02 billion, a P/E ratio of -23.58 and a beta of 0.96. The stock’s 50 day simple moving average is $15.12 and its 200 day simple moving average is $14.61. The company has a debt-to-equity ratio of 14.77, a quick ratio of 2.01 and a current ratio of 2.01.

Insider Activity at Sinclair

In other Sinclair news, EVP David B. Gibber sold 29,376 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $16.67, for a total transaction of $489,697.92. Following the transaction, the executive vice president directly owned 165,272 shares in the company, valued at approximately $2,755,084.24. This trade represents a 15.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Howard E. Friedman sold 14,713 shares of Sinclair stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $15.11, for a total transaction of $222,313.43. Following the transaction, the director directly owned 77,685 shares in the company, valued at $1,173,820.35. This represents a 15.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 50,637 shares of company stock valued at $815,535 over the last 90 days. Insiders own 46.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Sinclair by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,082 shares of the company’s stock worth $304,000 after buying an additional 780 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Sinclair by 26.2% during the second quarter. Ameritas Investment Partners Inc. now owns 3,945 shares of the company’s stock valued at $55,000 after acquiring an additional 820 shares during the last quarter. Kendall Capital Management increased its position in shares of Sinclair by 3.8% during the third quarter. Kendall Capital Management now owns 26,495 shares of the company’s stock valued at $400,000 after acquiring an additional 965 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Sinclair by 142.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock worth $25,000 after acquiring an additional 1,065 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Sinclair by 5.1% in the second quarter. JPMorgan Chase & Co. now owns 31,075 shares of the company’s stock worth $429,000 after purchasing an additional 1,511 shares during the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Sinclair Company Profile

Sinclair Broadcast Group, Inc (NASDAQ: SBGI) is a media and entertainment company headquartered in Hunt Valley, Maryland. Founded in 1971 as a single UHF television station operator, Sinclair has grown through strategic acquisitions and organic expansion to become one of the largest owners of local television stations in the United States. Over its history, the company has pursued a diversified portfolio that includes both traditional broadcast assets and newer digital platforms.

At its core, Sinclair operates over 190 television stations affiliated with the major national broadcast networks, including ABC, CBS, NBC, Fox, The CW and MyNetworkTV.