Sinclair, Inc. (NASDAQ:SBGI) Receives Consensus Recommendation of "Hold" from Analysts

Shares of Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) have received an average rating of "Hold" from the five analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $18.50.

Several analysts recently weighed in on SBGI shares. Benchmark dropped their price objective on Sinclair from $30.00 to $29.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Wall Street Zen downgraded shares of Sinclair from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. JPMorgan Chase & Co. lowered their price objective on shares of Sinclair from $14.00 to $13.00 and set an "underweight" rating for the company in a research report on Wednesday, May 21st. Guggenheim reissued a "buy" rating on shares of Sinclair in a research note on Thursday, May 15th. Finally, Wells Fargo & Company cut their target price on shares of Sinclair from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 27th.

Insiders Place Their Bets

In related news, Chairman David D. Smith purchased 63,073 shares of Sinclair stock in a transaction dated Wednesday, April 9th. The stock was bought at an average cost of $12.91 per share, for a total transaction of $814,272.43. Following the completion of the transaction, the chairman now owns 1,526,029 shares in the company, valued at $19,701,034.39. This trade represents a 4.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 389,824 shares of company stock valued at $5,671,397 over the last ninety days. 41.90% of the stock is currently owned by insiders.

Institutional Trading of Sinclair

Several hedge funds and other institutional investors have recently bought and sold shares of SBGI. Acadian Asset Management LLC grew its position in Sinclair by 134.7% during the 1st quarter. Acadian Asset Management LLC now owns 11,525 shares of the company's stock worth $182,000 after acquiring an additional 6,615 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Sinclair by 3.3% during the first quarter. Empowered Funds LLC now owns 251,943 shares of the company's stock valued at $4,013,000 after purchasing an additional 7,970 shares during the period. Aristeia Capital L.L.C. grew its holdings in shares of Sinclair by 158.8% in the first quarter. Aristeia Capital L.L.C. now owns 45,276 shares of the company's stock worth $721,000 after purchasing an additional 27,782 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Sinclair by 4.3% in the first 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 during the period. Finally, Cinctive Capital Management LP purchased a new position in shares of Sinclair in the first quarter worth $1,058,000. Hedge funds and other institutional investors own 41.71% of the company's stock.

Sinclair Stock Up 2.7%

NASDAQ:SBGI opened at $13.17 on Friday. Sinclair has a twelve month low of $11.13 and a twelve month high of $18.46. The firm has a market capitalization of $916.26 million, a price-to-earnings ratio of -3.99 and a beta of 1.32. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. The stock's 50 day moving average price is $14.41 and its two-hundred day moving average price is $15.31.

Sinclair (NASDAQ:SBGI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($2.18) EPS for the quarter, missing analysts' consensus estimates of ($1.78) by ($0.40). Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The company had revenue of $776.00 million during the quarter, compared to analyst estimates of $774.79 million. During the same quarter last year, the company posted $0.35 EPS. The firm's quarterly revenue was down 2.8% on a year-over-year basis. Equities research analysts expect that Sinclair will post 4.24 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.59%. The ex-dividend date of this dividend is Friday, May 30th. Sinclair's dividend payout ratio is currently 49.75%.

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.

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