Sinclair (NASDAQ:SBGI) Trading Down 4.7% – Time to Sell?

Sinclair, Inc. (NASDAQ:SBGI)’s share price was down 4.7% during trading on Wednesday . The stock traded as low as $14.16 and last traded at $14.23. Approximately 154,062 shares were traded 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 research firms recently commented on SBGI. JPMorgan Chase & Co. upped their price objective on Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Wells Fargo & Company raised Sinclair from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $13.00 to $19.00 in a report on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and issued a $30.00 price target on shares of Sinclair in a report on Tuesday, January 28th. Finally, Guggenheim raised their price objective on shares of Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $20.10.

Sinclair Trading Down 3.6 %

The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. The company has a fifty day moving average price of $16.23 and a 200-day moving average price of $15.54. The firm has a market cap of $955.27 million, a price-to-earnings ratio of -4.36 and a beta of 1.55.

Sinclair (NASDAQ:SBGI) last posted its earnings results on Wednesday, November 6th. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.54. The firm had revenue of $917.00 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 19.6% on a year-over-year basis. During the same period last year, the firm earned ($0.30) EPS. As a group, research analysts expect that Sinclair, Inc. will post 4.24 EPS for the current year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 6.95%. Sinclair’s dividend payout ratio (DPR) is presently -30.30%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Sinclair in the 3rd quarter valued at about $310,000. GAMMA Investing LLC raised its stake in Sinclair by 81.6% during the third quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock worth $35,000 after purchasing an additional 1,026 shares during the period. nVerses Capital LLC grew its stake in shares of Sinclair by 71.4% in the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $55,000 after buying an additional 1,500 shares during the period. Pinnacle Associates Ltd. increased its holdings in shares of Sinclair by 2.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 642,738 shares of the company’s stock worth $9,834,000 after buying an additional 14,384 shares during the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Sinclair during the 3rd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

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.