Sinclair (NASDAQ:SBGI) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Sinclair, Inc. (NASDAQ:SBGI) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.92 and traded as high as $17.13. Sinclair shares last traded at $17.06, with a volume of 184,151 shares.

Wall Street Analyst Weigh In

A number of analysts recently commented on SBGI shares. Rosenblatt Securities increased their price target on Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a research report on Friday, September 20th. StockNews.com raised Sinclair from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th. Finally, Benchmark boosted their price target on shares of Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Sinclair currently has a consensus rating of “Hold” and an average price target of $19.88.

Sinclair Price Performance

The firm has a 50 day moving average price of $15.18 and a two-hundred day moving average price of $13.94. The company has a market cap of $1.15 billion, a P/E ratio of -3.18, a P/E/G ratio of 0.14 and a beta of 1.55. The company has a debt-to-equity ratio of 14.93, a quick ratio of 1.78 and a current ratio of 1.78.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.40. The company had revenue of $829.00 million for the quarter, compared to analyst estimates of $836.65 million. Sinclair had a negative net margin of 10.78% and a positive return on equity of 22.55%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.09) earnings per share. On average, analysts predict that Sinclair, Inc. will post 4.57 EPS for the current fiscal year.

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.79%. The ex-dividend date of this dividend was Friday, August 30th. Sinclair’s payout ratio is currently -18.28%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. bought a new position in shares of Sinclair in the third quarter valued at approximately $39,000. Pinnacle Associates Ltd. boosted its holdings in Sinclair by 2.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 642,738 shares of the company’s stock valued at $9,834,000 after purchasing an additional 14,384 shares during the period. nVerses Capital LLC boosted its stake in Sinclair by 71.4% during the third 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. GAMMA Investing LLC grew its holdings in shares of 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 in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Sinclair in the 3rd quarter worth $310,000. Hedge funds and other institutional investors 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.