Sinclair, Inc. (NASDAQ:SBGI) Short Interest Update

Sinclair, Inc. (NASDAQ:SBGI) was the target of a large decrease in short interest in November. As of November 15th, there was short interest totalling 2,560,000 shares, a decrease of 16.6% from the October 31st total of 3,070,000 shares. Approximately 6.7% of the shares of the company are sold short. Based on an average daily trading volume, of 374,800 shares, the short-interest ratio is currently 6.8 days.

Sinclair Trading Up 1.5 %

Shares of Sinclair stock opened at $18.32 on Friday. The business has a fifty day simple moving average of $16.61 and a 200-day simple moving average of $14.54. Sinclair has a fifty-two week low of $11.13 and a fifty-two week high of $18.45. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -5.55, a price-to-earnings-growth ratio of 0.16 and a beta of 1.53. 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) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.54. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The company had revenue of $917.00 million during the quarter, compared to the consensus estimate of $923.02 million. During the same period in the prior year, the company earned ($0.30) EPS. Sinclair’s revenue was up 19.6% on a year-over-year basis. On average, equities analysts forecast that Sinclair will post 4.24 EPS for the current fiscal year.

Sinclair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 5.46%. Sinclair’s dividend payout ratio is currently -30.30%.

Analyst Upgrades and Downgrades

SBGI has been the topic of several research analyst reports. StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th. Wells Fargo & Company raised Sinclair from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $13.00 to $19.00 in a report on Thursday, November 7th. Guggenheim increased their price objective on shares of Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Benchmark increased their price target on shares of Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, Rosenblatt Securities lifted their price objective on Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a research report on Friday, September 20th. 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. According to data from MarketBeat, Sinclair has an average rating of “Hold” and an average price target of $20.10.

Institutional Investors Weigh In On Sinclair

Institutional investors and hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Sinclair by 52.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 114,864 shares of the company’s stock worth $1,549,000 after buying an additional 39,624 shares during the period. Segall Bryant & Hamill LLC purchased a new position in Sinclair during the 3rd quarter worth approximately $1,605,000. Empyrean Capital Partners LP acquired a new stake in Sinclair during the 2nd quarter valued at $2,873,000. Alden Global Capital LLC lifted its holdings in shares of Sinclair by 10.5% in the second quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company’s stock valued at $16,341,000 after purchasing an additional 116,074 shares in the last quarter. Finally, Inspire Advisors LLC acquired a new position in Sinclair during the second quarter valued at $1,552,000. 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.