Sinclair (NASDAQ:SBGI) Trading Down 3.9% - Should You Sell?

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report)'s stock price fell 3.9% during trading on Tuesday . The stock traded as low as $14.33 and last traded at $14.30. 64,915 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 356,336 shares. The stock had previously closed at $14.87.

Analyst Ratings Changes

Several brokerages have recently issued reports on SBGI. Benchmark reaffirmed a "buy" rating and set a $30.00 target price on shares of Sinclair in a research report on Tuesday, January 28th. Guggenheim reduced their price objective on Sinclair from $19.00 to $17.00 and set a "buy" rating for the company in a report on Monday, March 10th. StockNews.com downgraded Sinclair from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Wells Fargo & Company lowered their price objective on Sinclair from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $19.30.

Sinclair Price Performance

The firm has a market capitalization of $1.02 billion, a P/E ratio of -4.65 and a beta of 1.29. The business's 50-day simple moving average is $14.72 and its 200 day simple moving average is $15.69. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported $2.61 EPS for the quarter, topping analysts' consensus estimates of $1.99 by $0.62. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The company had revenue of $1 billion for the quarter, compared to analysts' expectations of $1.01 billion. Sell-side analysts forecast that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date was Monday, March 10th. Sinclair's dividend payout ratio (DPR) is presently 21.46%.

Insider Buying and Selling

In other news, Chairman David D. Smith acquired 63,073 shares of the firm's stock in a transaction on Wednesday, April 9th. The shares were purchased at an average price 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 of the company's stock, valued at $19,701,034.39. The trade was a 4.31 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought a total of 458,530 shares of company stock valued at $6,636,392 over the last three months. 46.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Barclays PLC raised its holdings in shares of Sinclair by 378.1% during the third quarter. Barclays PLC now owns 54,229 shares of the company's stock valued at $831,000 after acquiring an additional 42,887 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Sinclair by 26.9% during the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company's stock valued at $47,000 after purchasing an additional 613 shares in the last quarter. San Luis Wealth Advisors LLC purchased a new position in shares of Sinclair during the fourth quarter valued at about $791,000. Empowered Funds LLC raised its stake in Sinclair by 5.1% in the fourth quarter. Empowered Funds LLC now owns 243,973 shares of the company's stock worth $3,938,000 after buying an additional 11,883 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Sinclair by 56.3% in the fourth quarter. Rhumbline Advisers now owns 86,072 shares of the company's stock worth $1,389,000 after buying an additional 31,015 shares during the period. Hedge funds and other institutional investors 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.