Sinclair (NASDAQ:SBGI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Sinclair (NASDAQ:SBGI) from a sell rating to a hold rating in a research report report published on Sunday morning.

Several other analysts also recently commented on SBGI. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sinclair in a research report on Monday, December 29th. Zacks Research upgraded shares of Sinclair from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Finally, Guggenheim increased their target price on shares of Sinclair from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $19.00.

Sinclair Trading Down 0.4%

SBGI opened at $14.06 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 14.77. Sinclair has a 52 week low of $11.89 and a 52 week high of $17.88. The business’s 50 day moving average is $14.92 and its two-hundred day moving average is $14.67. The firm has a market cap of $979.70 million, a price-to-earnings ratio of -22.68 and a beta of 0.96.

Insider Activity

In other Sinclair news, Director Benson E. Legg sold 6,548 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $15.81, for a total transaction of $103,523.88. Following the transaction, the director owned 71,165 shares in the company, valued at approximately $1,125,118.65. The trade was a 8.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David B. Gibber sold 29,376 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $16.67, for a total value of $489,697.92. Following the transaction, the executive vice president owned 165,272 shares in the company, valued at $2,755,084.24. The trade was a 15.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 50,637 shares of company stock valued at $815,535 over the last quarter. Corporate insiders own 46.60% of the company’s stock.

Institutional Trading of Sinclair

A number of institutional investors have recently modified their holdings of SBGI. Geneos Wealth Management Inc. lifted its holdings in Sinclair by 142.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock valued at $25,000 after acquiring an additional 1,065 shares during the period. Hilton Head Capital Partners LLC acquired a new stake in shares of Sinclair in the fourth quarter valued at about $32,000. Tower Research Capital LLC TRC lifted its stake in shares of Sinclair by 175.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock valued at $41,000 after purchasing an additional 1,882 shares during the period. Aquatic Capital Management LLC purchased a new stake in Sinclair during the third quarter worth about $48,000. Finally, Raymond James Financial Inc. acquired a new position in Sinclair during the second quarter worth about $54,000. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

About Sinclair

Sinclair Broadcast Group, Inc (NASDAQ: SBGI) is a media and entertainment company headquartered in Hunt Valley, Maryland. Founded in 1971 as a single UHF television station operator, Sinclair has grown through strategic acquisitions and organic expansion to become one of the largest owners of local television stations in the United States. Over its history, the company has pursued a diversified portfolio that includes both traditional broadcast assets and newer digital platforms.

At its core, Sinclair operates over 190 television stations affiliated with the major national broadcast networks, including ABC, CBS, NBC, Fox, The CW and MyNetworkTV.