Sinclair, Inc. (NASDAQ:SBGI) Receives $18.14 Average PT from Brokerages

Shares of Sinclair, Inc. (NASDAQ:SBGI) have earned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat.com reports. One equities 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 1 year target price among brokerages that have issued ratings on the stock in the last year is $18.14.

A number of analysts have recently issued reports on SBGI shares. StockNews.com raised shares of Sinclair from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Wells Fargo & Company increased their price objective on shares of Sinclair from $12.00 to $13.00 and gave the stock an “underweight” rating in a research note on Friday, March 1st.

Insider Buying and Selling

In related news, CAO David R. Bochenek sold 20,803 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $13.44, for a total transaction of $279,592.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Sinclair news, CAO David R. Bochenek sold 20,803 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $13.44, for a total transaction of $279,592.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel C. Keith sold 30,086 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $13.58, for a total transaction of $408,567.88. Following the transaction, the director now owns 30,000 shares of the company’s stock, valued at approximately $407,400. The disclosure for this sale can be found here. 46.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sinclair

Several institutional investors have recently bought and sold shares of the business. Capital Management Corp VA lifted its holdings in shares of Sinclair by 36.7% in the 1st quarter. Capital Management Corp VA now owns 2,006,720 shares of the company’s stock worth $27,031,000 after acquiring an additional 538,740 shares during the last quarter. Alden Global Capital LLC boosted its stake in shares of Sinclair by 86.1% during the 4th quarter. Alden Global Capital LLC now owns 645,400 shares of the company’s stock worth $8,410,000 after purchasing an additional 298,508 shares during the period. AQR Capital Management LLC boosted its stake in shares of Sinclair by 102.0% during the 3rd quarter. AQR Capital Management LLC now owns 478,946 shares of the company’s stock worth $5,374,000 after purchasing an additional 241,895 shares during the period. Choreo LLC purchased a new position in shares of Sinclair during the 4th quarter worth about $2,982,000. Finally, Kingsview Wealth Management LLC purchased a new position in shares of Sinclair during the 3rd quarter worth about $2,231,000. Institutional investors own 41.71% of the company’s stock.

Sinclair Stock Up 0.3 %

Shares of SBGI stock opened at $12.36 on Friday. Sinclair has a 12 month low of $9.39 and a 12 month high of $17.58. The stock has a market cap of $817.98 million, a P/E ratio of -1.74, a P/E/G ratio of 0.19 and a beta of 1.38. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 15.29. The company has a 50 day simple moving average of $12.96 and a two-hundred day simple moving average of $13.67.

Sinclair (NASDAQ:SBGI) last announced its earnings results on Wednesday, May 8th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.97. Sinclair had a negative net margin of 14.34% and a negative return on equity of 2.65%. The business had revenue of $798.00 million during the quarter, compared to analysts’ expectations of $798.68 million. On average, research analysts expect that Sinclair will post 3.75 earnings per share for the current year.

Sinclair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.09%. Sinclair’s dividend payout ratio is -14.04%.

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.