Sinclair, Inc. (NASDAQ:SBGI) Stock Rated “Hold” by Wall Street Brokerages

Shares of Sinclair, Inc. (NASDAQ:SBGI) have been given a consensus rating of “Hold” by the six analysts that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $19.40.

A number of analysts have recently weighed in on SBGI shares. Weiss Ratings lowered shares of Sinclair from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Wall Street Zen downgraded Sinclair from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. boosted their price target on Sinclair from $14.00 to $15.00 and gave the company an “underweight” rating in a report on Friday, August 21st. Finally, Zacks Research raised Sinclair from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 8th.

Insider Activity

In other news, EVP David Gibber sold 29,246 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $13.74, for a total transaction of $401,840.04. Following the transaction, the executive vice president directly owned 184,244 shares of the company’s stock, valued at approximately $2,531,512.56. The trade was a 13.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 42.10% of the company’s stock.

Institutional Trading of Sinclair

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Simplicity Wealth LLC bought a new position in Sinclair in the 3rd quarter worth $190,000. Pinnacle Associates Ltd. lifted its position in shares of Sinclair by 4.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 774,890 shares of the company’s stock worth $9,833,000 after purchasing an additional 33,457 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Sinclair by 2,823.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,280 shares of the company’s stock worth $29,000 after purchasing an additional 2,202 shares during the period. Waverly Advisors LLC lifted its position in shares of Sinclair by 9.7% in the 2nd quarter. Waverly Advisors LLC now owns 13,346 shares of the company’s stock worth $190,000 after purchasing an additional 1,181 shares during the period. Finally, Odyssean LLC bought a new stake in shares of Sinclair during the 2nd quarter valued at about $242,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Sinclair Trading Down 3.4%

Shares of SBGI opened at $11.97 on Tuesday. Sinclair has a twelve month low of $11.96 and a twelve month high of $17.88. The company has a debt-to-equity ratio of 13.28, a current ratio of 1.94 and a quick ratio of 1.94. The firm has a fifty day simple moving average of $13.43 and a two-hundred day simple moving average of $14.14.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.82). The firm had revenue of $840.00 million during the quarter, compared to analysts’ expectations of $838.99 million. Sinclair had a net margin of 1.60% and a negative return on equity of 16.09%. Sinclair’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.91) EPS. As a group, equities analysts predict that Sinclair will post 1.01 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.4%. The ex-dividend date was Monday, August 31st. Sinclair’s dividend payout ratio (DPR) is currently 133.33%.

About Sinclair

Sinclair, Inc is a diversified media company that owns and operates local television stations across the United States. Its broadcast portfolio includes ABC, CBS, FOX, NBC, and other network-affiliated stations, as well as independent stations. Sinclair’s local media operations produce news, weather, sports, and community-focused programming for viewers in markets throughout the country.

The company also develops and distributes national and regional content through cable networks, digital platforms, and streaming services.