Sinclair (NASDAQ:SBGI) Shares Gap Up to $13.28

Sinclair, Inc. (NASDAQ:SBGI)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $13.28, but opened at $14.67. Sinclair shares last traded at $15.77, with a volume of 193,558 shares traded.

Wall Street Analyst Weigh In

SBGI has been the topic of a number of recent research reports. StockNews.com cut shares of Sinclair from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Wells Fargo & Company lifted their target price on shares of Sinclair from $12.00 to $13.00 and gave the stock an “underweight” rating in a research report on Friday, March 1st. Finally, Rosenblatt Securities boosted their price target on shares of Sinclair from $10.40 to $15.70 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.14.

Sinclair Trading Up 10.8 %

The company has a market capitalization of $935.59 million, a PE ratio of -3.27, a price-to-earnings-growth ratio of 0.32 and a beta of 1.38. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 18.73. The stock’s fifty day moving average price is $12.74 and its two-hundred day moving average price is $13.47.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.35. The business had revenue of $826.00 million during the quarter, compared to analysts’ expectations of $838.75 million. Sinclair had a positive return on equity of 26.46% and a negative net margin of 9.29%. The business’s revenue was down 14.0% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. Sell-side analysts anticipate that Sinclair, Inc. will post 2.42 earnings per share for the current year.

Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were issued a $0.25 dividend. The ex-dividend date was Friday, March 8th. This represents a $1.00 annualized dividend and a yield of 6.80%. Sinclair’s dividend payout ratio (DPR) is presently -20.70%.

Insider Transactions at Sinclair

In other Sinclair news, CAO David R. Bochenek sold 20,803 shares of Sinclair stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $13.44, for a total transaction of $279,592.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Daniel C. Keith sold 30,086 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $13.58, for a total transaction of $408,567.88. Following the sale, the director now owns 30,000 shares of the company’s stock, valued at $407,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO David R. Bochenek sold 20,803 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $13.44, for a total transaction of $279,592.32. The disclosure for this sale can be found here. Corporate insiders own 39.60% of the company’s stock.

Institutional Trading of Sinclair

A number of hedge funds have recently made changes to their positions in the stock. Gamco Investors INC. ET AL raised its stake in Sinclair by 2.7% during the third quarter. Gamco Investors INC. ET AL now owns 3,524,743 shares of the company’s stock valued at $39,548,000 after buying an additional 91,870 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Sinclair by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,889,863 shares of the company’s stock worth $24,626,000 after purchasing an additional 78,793 shares during the last quarter. Capital Management Corp VA boosted its stake in Sinclair by 16.5% in the 3rd quarter. Capital Management Corp VA now owns 1,652,805 shares of the company’s stock worth $18,544,000 after purchasing an additional 233,977 shares in the last quarter. American Financial Group Inc. grew its position in Sinclair by 12.7% during the 3rd quarter. American Financial Group Inc. now owns 658,420 shares of the company’s stock valued at $7,387,000 after purchasing an additional 74,101 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Sinclair by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 648,481 shares of the company’s stock valued at $8,450,000 after purchasing an additional 13,874 shares in the last quarter. 41.71% of the stock is owned by institutional investors.

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.