Sinclair (NASDAQ:SBGI) Stock Price Up 6.7%

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) shares traded up 6.7% on Wednesday . The company traded as high as $13.36 and last traded at $13.36. 141,696 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 482,676 shares. The stock had previously closed at $12.52.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SBGI shares. Wells Fargo & Company increased their target price 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. StockNews.com downgraded Sinclair from a "hold" rating to a "sell" rating in a research note on Friday, March 1st. Finally, Rosenblatt Securities lifted their price target on shares of Sinclair from $10.40 to $15.70 and gave the company a "neutral" rating in a research note on Thursday, January 18th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Sinclair presently has an average rating of "Hold" and a consensus price target of $18.14.

Sinclair Trading Up 4.6 %

The company has a debt-to-equity ratio of 18.73, a quick ratio of 1.34 and a current ratio of 1.34. The company has a 50 day moving average of $14.15 and a 200 day moving average of $13.14. The stock has a market capitalization of $832.52 million, a price-to-earnings ratio of -2.71, a P/E/G ratio of 0.31 and a beta of 1.40.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.35. The business had revenue of $826.00 million during the quarter, compared to analysts' expectations of $838.75 million. Sinclair had a negative net margin of 9.29% and a positive return on equity of 26.46%. The company's quarterly revenue was down 14.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 earnings per share. On average, research analysts predict that Sinclair, Inc. will post 2.42 EPS for the current fiscal year.

Sinclair Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were issued a $0.25 dividend. The ex-dividend date was Friday, March 8th. This represents a $1.00 annualized dividend and a dividend yield of 7.64%. Sinclair's dividend payout ratio is presently -20.70%.

Insider Buying and Selling

In related news, CAO David R. Bochenek sold 20,803 shares of the company's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $13.44, for a total value 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 news, Director Daniel C. Keith sold 30,086 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $13.58, for a total transaction of $408,567.88. Following the completion of the transaction, the director now directly owns 30,000 shares in the company, valued at approximately $407,400. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO David R. Bochenek sold 20,803 shares of the firm's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $13.44, for a total value of $279,592.32. The disclosure for this sale can be found here. 41.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SBGI. American Financial Group Inc. raised its stake in shares of Sinclair by 12.7% in the 3rd quarter. American Financial Group Inc. now owns 658,420 shares of the company's stock valued at $7,387,000 after acquiring an additional 74,101 shares during the period. AQR Capital Management LLC boosted its position in shares of Sinclair by 102.0% during the third quarter. AQR Capital Management LLC now owns 478,946 shares of the company's stock worth $5,374,000 after buying an additional 241,895 shares during the period. Capital Management Corp VA boosted its position in shares of Sinclair by 16.5% during the third quarter. Capital Management Corp VA now owns 1,652,805 shares of the company's stock worth $18,544,000 after buying an additional 233,977 shares during the period. Comerica Bank acquired a new stake in shares of Sinclair in the second quarter valued at $3,607,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Sinclair in the 3rd quarter valued at $446,000. Institutional investors and hedge funds own 41.71% of the company's stock.

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.