Sinclair (NASDAQ:SBGI) Cut to Sell at StockNews.com

Sinclair (NASDAQ:SBGI - Get Free Report) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a report issued on Monday.

A number of other brokerages have also commented on SBGI. Guggenheim cut their price objective on shares of Sinclair from $19.00 to $17.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Wells Fargo & Company cut their price objective on shares of Sinclair from $19.00 to $17.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. Finally, Benchmark cut their price objective on shares of Sinclair from $30.00 to $29.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $19.10.

Sinclair Stock Performance

Sinclair stock traded up $0.66 on Monday, reaching $15.90. 385,131 shares of the stock were exchanged, compared to its average volume of 355,727. The stock has a market cap of $1.06 billion, a PE ratio of -4.82 and a beta of 1.36. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. Sinclair has a twelve month low of $11.13 and a twelve month high of $18.46. The firm has a fifty day moving average price of $14.89 and a two-hundred day moving average price of $15.60.

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

Insider Buying and Selling

In other Sinclair news, Chairman David D. Smith purchased 63,073 shares of the company's stock in a transaction that occurred on Wednesday, April 9th. The stock was purchased at an average price of $12.91 per share, with a total value of $814,272.43. Following the completion of the transaction, the chairman now directly owns 1,526,029 shares of the company's stock, valued at approximately $19,701,034.39. This trade represents a 4.31% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 458,530 shares of company stock valued at $6,636,392 over the last quarter. Corporate insiders own 41.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Sinclair by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 3,714,036 shares of the company's stock worth $59,945,000 after purchasing an additional 64,683 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in Sinclair by 1.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 3,704,282 shares of the company's stock worth $59,787,000 after buying an additional 55,350 shares during the last quarter. Empyrean Capital Partners LP grew its stake in Sinclair by 8.0% during the fourth quarter. Empyrean Capital Partners LP now owns 1,144,493 shares of the company's stock worth $18,472,000 after buying an additional 84,493 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Sinclair by 65.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 717,007 shares of the company's stock worth $11,422,000 after buying an additional 282,400 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its stake in Sinclair by 2.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 528,719 shares of the company's stock worth $8,534,000 after buying an additional 11,883 shares during the last quarter. 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.

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