Sinclair, Inc. (NASDAQ:SBGI – Get Free Report) EVP David Gibber sold 29,246 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $13.74, for a total transaction of $401,840.04. Following the sale, the executive vice president owned 184,244 shares in the company, valued at approximately $2,531,512.56. This represents a 13.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Sinclair Stock Up 3.9%
SBGI opened at $14.84 on Friday. The company has a fifty day moving average of $14.08 and a two-hundred day moving average of $14.31. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 19.79 and a beta of 1.06. Sinclair, Inc. has a fifty-two week low of $12.46 and a fifty-two week high of $17.88. The company has a debt-to-equity ratio of 13.28, a quick ratio of 1.94 and a current ratio of 1.94.
Sinclair (NASDAQ:SBGI – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.82). Sinclair had a negative return on equity of 16.09% and a net margin of 1.60%.The firm had revenue of $840.00 million for the quarter, compared to analysts’ expectations of $838.99 million. During the same period in the previous year, the company earned ($0.91) earnings per share. The company’s revenue was up 7.1% compared to the same quarter last year. On average, research analysts expect that Sinclair, Inc. will post 1.48 earnings per share for the current year.
Sinclair Announces Dividend
Analyst Ratings Changes
Several analysts have commented on SBGI shares. Zacks Research lowered Sinclair from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Weiss Ratings downgraded Sinclair from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. Wells Fargo & Company decreased their target price on Sinclair from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Wall Street Zen cut shares of Sinclair from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Guggenheim cut their price target on shares of Sinclair from $20.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Sinclair has a consensus rating of “Reduce” and a consensus target price of $19.20.
Get Our Latest Research Report on Sinclair
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. boosted its holdings in Sinclair by 142.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock worth $25,000 after buying an additional 1,065 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new position in shares of Sinclair during the fourth quarter valued at approximately $32,000. Tower Research Capital LLC TRC raised its holdings in shares of Sinclair by 175.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock valued at $41,000 after acquiring an additional 1,882 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Sinclair in the third quarter valued at approximately $48,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Sinclair in the second quarter valued at approximately $54,000. 41.71% of the stock is 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.
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