Sinclair (NASDAQ:SBGI) Shares Down 6.4%

Sinclair, Inc. (NASDAQ:SBGI)’s share price fell 6.4% during mid-day trading on Monday . The stock traded as low as $12.55 and last traded at $12.56. 25,699 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 425,694 shares. The stock had previously closed at $13.42.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. 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. Based on data from MarketBeat.com, Sinclair has a consensus rating of “Hold” and a consensus target price of $18.14.

Sinclair Price Performance

The company has a market cap of $855.05 million, a P/E ratio of -1.80, a P/E/G ratio of 0.26 and a beta of 1.56. The stock has a 50-day simple moving average of $13.38 and a 200 day simple moving average of $13.50. The company has a debt-to-equity ratio of 15.29, a quick ratio of 1.42 and a current ratio of 1.42.

Sinclair (NASDAQ:SBGI) last issued its earnings results on Wednesday, August 7th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.40. Sinclair had a positive return on equity of 21.25% and a negative net margin of 10.78%. The firm had revenue of $829.00 million during the quarter, compared to analysts’ expectations of $836.65 million. During the same period last year, the business earned ($1.09) earnings per share. Sinclair’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities analysts expect that Sinclair, Inc. will post 3.75 EPS for the current year.

Sinclair Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.00 annualized dividend and a dividend yield of 7.74%. Sinclair’s dividend payout ratio (DPR) is currently -14.04%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SBGI. Dimensional Fund Advisors LP boosted its holdings in Sinclair by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,889,863 shares of the company’s stock valued at $24,626,000 after purchasing an additional 78,793 shares in the last quarter. Choreo LLC bought a new stake in Sinclair in the fourth quarter valued at $2,982,000. Alden Global Capital LLC grew its position in Sinclair by 86.1% in the fourth quarter. Alden Global Capital LLC now owns 645,400 shares of the company’s stock valued at $8,410,000 after acquiring an additional 298,508 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Sinclair by 52.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 114,864 shares of the company’s stock worth $1,549,000 after acquiring an additional 39,624 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Sinclair during the first quarter valued at $1,359,000. 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.