Sinclair (NASDAQ:SBGI) Stock Price Down 4.7% – Should You Sell?

Sinclair, Inc. (NASDAQ:SBGI)’s stock price dropped 4.7% during trading on Wednesday . The company traded as low as $14.16 and last traded at $14.23. Approximately 154,062 shares traded hands during trading, a decline of 25% from the average daily volume of 204,287 shares. The stock had previously closed at $14.92.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SBGI shares. Wells Fargo & Company raised shares of Sinclair from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $13.00 to $19.00 in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their price objective on shares of Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Guggenheim increased their price objective on Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, Benchmark reissued a “buy” rating and issued a $30.00 target price on shares of Sinclair in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $20.10.

Sinclair Trading Down 1.1 %

The business has a 50 day moving average of $16.09 and a 200 day moving average of $15.53. The firm has a market capitalization of $972.39 million, a price-to-earnings ratio of -4.44 and a beta of 1.55. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91.

Sinclair (NASDAQ:SBGI) last posted its earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.54. The company had revenue of $917.00 million during the quarter, compared to analyst estimates of $923.02 million. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.30) EPS. As a group, research analysts predict that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.83%. The ex-dividend date of this dividend was Monday, December 2nd. Sinclair’s payout ratio is presently -30.30%.

Institutional Investors Weigh In On Sinclair

Several large investors have recently modified their holdings of SBGI. GAMMA Investing LLC raised its holdings in Sinclair by 81.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock worth $35,000 after buying an additional 1,026 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Sinclair during the third quarter worth $39,000. nVerses Capital LLC raised its holdings in shares of Sinclair by 71.4% during the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $55,000 after acquiring an additional 1,500 shares during the period. Point72 DIFC Ltd bought a new stake in Sinclair in the 3rd quarter valued at $91,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Sinclair in the 3rd quarter worth $121,000. 41.71% of the stock is currently owned by institutional investors.

About Sinclair

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.