Sinclair, Inc. (NASDAQ:SBGI) Receives Consensus Rating of “Hold” from Brokerages

Shares of Sinclair, Inc. (NASDAQ:SBGI) have earned an average recommendation of “Hold” from the six brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $19.40.

A number of analysts recently weighed in on the stock. Zacks Research upgraded shares of Sinclair from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 8th. Wall Street Zen lowered Sinclair from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. increased their target price on shares of Sinclair from $14.00 to $15.00 and gave the stock an “underweight” rating in a report on Friday, August 21st. Finally, Weiss Ratings upgraded Sinclair from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 25th.

Insider Activity at Sinclair

In related news, EVP David Gibber sold 29,246 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $13.74, for a total transaction of $401,840.04. Following the transaction, the executive vice president directly owned 184,244 shares of the company’s stock, valued at approximately $2,531,512.56. The trade was a 13.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 42.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Converium Capital Inc. grew its position in shares of Sinclair by 15.8% in the first quarter. Converium Capital Inc. now owns 1,062,452 shares of the company’s stock valued at $13,748,000 after purchasing an additional 144,674 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Sinclair by 7.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,622,794 shares of the company’s stock worth $21,001,000 after purchasing an additional 113,788 shares during the period. Madison Avenue Partners LP acquired a new position in shares of Sinclair in the 4th quarter valued at approximately $13,918,000. Bank of America Corp DE raised its position in Sinclair by 82.6% during the first quarter. Bank of America Corp DE now owns 86,137 shares of the company’s stock valued at $1,115,000 after purchasing an additional 38,962 shares in the last quarter. Finally, Waverly Advisors LLC raised its holdings in shares of Sinclair by 9.7% during the 2nd quarter. Waverly Advisors LLC now owns 13,346 shares of the company’s stock worth $190,000 after buying an additional 1,181 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Sinclair Trading Down 1.4%

Shares of SBGI opened at $12.51 on Friday. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 13.28. The firm has a market capitalization of $904.72 million, a PE ratio of 16.68 and a beta of 1.12. The stock’s fifty day simple moving average is $13.82 and its 200-day simple moving average is $14.08. Sinclair has a 12-month low of $12.33 and a 12-month high of $17.88.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.82). The business had revenue of $840.00 million during the quarter, compared to analyst estimates of $838.99 million. Sinclair had a net margin of 1.60% and a negative return on equity of 16.09%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.91) earnings per share. As a group, research analysts predict that Sinclair will post 1.01 earnings per share for the current year.

Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.0%. Sinclair’s dividend payout ratio (DPR) is presently 133.33%.

About Sinclair

Sinclair, Inc (NASDAQ: SBGI) is a diversified media company focused primarily on local television broadcasting in the United States. Through its television stations, the company provides local news, weather, sports, entertainment and syndicated programming to audiences in markets across the country.

Sinclair also develops and distributes content through national and regional networks, digital platforms and streaming services. Its portfolio has included sports-focused programming, news and information services, and digital products designed to extend the reach of its broadcast content across connected televisions, websites and mobile devices.

The company was founded in 1986 by David D.